Which Renovations Will Give You The Best Return When You Sell Your Toronto Home?

The Appraisal Institute of Canada used to have a great calculator tool on their website that would use the latest Canadian appraisal data and let you know how much you could expect to get back on your initial investment when you sold a home. In other words, how much that new swimming pool or new kitchen would really pay off in the end.

Toronto Real Estate-Renovations 

Hardwood-Floors

For some reason, the calculator doesn’t appear to be available anymore. However, we’ve compiled a list of the best renos you can do to give you a good return on your investment when you go to sell your home.

1. Kitchens

Kitchens are at the top of this list because they can give you the biggest return on your investment, but they are also one of the most expensive renovations around. However, there are all kinds of ways you can refresh your kitchen while staying on budget – even renovations as simple as new counter tops, new cabinet doors or a new backsplash can work wonders.

2. Bathrooms

Like kitchens, bathrooms can also be an expensive renovation but they provide a huge return on your investment. There’s fewer big ticket items that need replacing or refinishing in a bathroom, and even a change in decor or new accessories can make all of the difference without over stretching your budget.

3. Fixtures

If any of the fixtures in your home are outdated or a little rundown, consider replacing them. Anything from sinks, toilets, light fixtures, cabinet knobs and door knobs can be replaced with something updated and modern to look high-end when it doesn’t cost much.

4. Flooring

New flooring, especially hardwood flooring, is something that can be installed yourself and won’t break the bank. It can completely change the look of any room in your home.

Another thing you can do to increase the resale potential of your home is to add an apartment, even if it is in the basement. This will add value to your home and appeal to buyers who are interested in income property – just make sure that the proper permits are taken out to avoid major headaches later on.

Are you looking to get your steel building for sale?