Summer is a great time to renovate. You’ve often got more time off, and the weather makes it easier to get the work done. However, you want to make sure your renovations provide a good ROI. While most of us tend to invest in the usual renovations such as kitchens and bathrooms, there are some unexpected choices ideal for summer. Here are some home value-boosting upgrades with surprising recouping powers.
Light and Breezy HVAC System
While this isn’t a renovation that will be noticeable from a cosmetic standpoint, it speaks volumes when the humid Toronto summer is at its worst. HVAC system updates are an excellent idea as they offer many benefits including:
- You can save from 20% to 40% on energy costs with a new HVAC.
- Comfort all year round.
- You can recoup as much as 85% of the cost of an HVAC replacement.
From a real estate standpoint, all of these reasons provide a strong argument to consider an HVAC replacement.
Ramp Up That Outdoor Space
If you want a value boosting upgrade this summer, you need look no further than your own backyard – literally. Backyard upgrades cover a long list of possibilities from new, more private fences to new decks or patios, and from outdoor living rooms to kitchens. Creating a backyard oasis not only gives you the ultimate place to relax or entertain, but can also offer an impressive ROI. For example, a new deck can return as much as 80%. You also can’t discount the value an outdoor living space provides when it comes to staging. Staged homes can increase sale prices by as much as 20% to 50% over asking. A well- thought out outdoor living room or kitchen creates an invitation home buyers can’t resist!
Attractive Garage Doors
You might not give your garage door much thought, but it can provide instant curb appeal while also improving insulation. In fact, something as simple as a new garage door can actually provide a surprising 95% return. The beauty of this upgrade? It is a very affordable investment. If you’re one of the lucky Torontonians with a garage, this is an excellent option.
Exterior Facelift
To add even more curb appeal, consider an exterior facelift. Stone facades are very on-trend offering an elegant detail you can install sparingly. Stone adds accents that update your home, whether it is the lower part of the home, and on pillars, porches, etc. Just 300 sq. ft. of stone can recoup up to 96% when you sell.
Pretty Laundry Room
Yes, the laundry room! Believe it or not many homeowners are excited about a pretty laundry room that isn’t so utilitarian. They want function in laundry rooms that make doing the laundry less tedious with new energy efficient appliances, pretty counters, and attractive storage space. Paint, upgrades to floors and sinks, fixtures such as faucets, and cabinet hardware all help create an organized, but very fashion-forward laundry room that stands out.
Maintenance-Free Upgrades
Home buyers love to hear about hassle-free features. Some excellent zero maintenance upgrades include:
- New, leak-free roof for 107% ROI
- New, paint-free vinyl siding for up to 76% ROI
- New energy efficient vinyl windows for up to 74% ROI
It might seem that you should be doing the traditional renovations and upgrades along with everyone else. However, these unexpected ideas will make your home more livable, offer a far better ROI, and also remain top of mind for buyers.
If you are considering selling your home, I can help. Speak to me today about how you can see improved ROI on your home renos. If you’ve got the reno bug and you’re doing your research, check out this blog on the top 5 things to avoid when you’re renovating.
Photo by Milivoj Kuhar on Unsplash
