Get a free, no obligation personal loan quote with rates as low as 6.99%
Get Started You can apply with no effect to your credit score

Whether an individual wishes to sell their current home or just make it a better place to live, home renovation should be considered. By making necessary updates, improving curb appeal, and renovating rooms like kitchens and bathrooms, it is possible to increase a home’s value.

Necessary Updates

Adding value to a home may be as simple as upgrading all major systems in the house. Old or outdated wiring, central heating or cooling systems, or plumbing may require frequent repairs or be costly to operate. By renovating these major systems, a home owner may increase the value of a home, as well as decreasing regular operating costs. Older roofs should also be considered for renovation. An older roof is more likely to leak, decrease heating and cooling efficiency, or even collapse. By completing these necessary updates, an owner may increase the value of a home.

Curb Appeal

How a house looks from the street impacts the first impression a potential buyer develops, impacting the value of the home. Increasing curb appeal may be as simple as applying a fresh coat of paint. The paint should be in a visually appealing color and not extremely bright or garish, since bright or garish colors may be a turn-off for many potential buyers. Adding easy to care for plants, such as perennials or plants that don’t require much maintenance, also improves the curb appeal of a home. Furthermore, homes that have walkways or driveways should keep the concrete clean and clear of weeds. Dirty, weed-infested driveways send a negative signal to a potential home buyer. If the outside of a home is not cared for, a potential home buyer will imagine that the inside of the house will be equally unkempt, regardless of truth.

Kitchen Renovations

Kitchens are frequently cited as one of the rooms that increases a home’s value. Therefore, renovation of a kitchen may be a way to improve a home’s overall value. Things that make a kitchen functional, such as a lot of counter space and cabinets, may be improved to increase the value of a kitchen. Counters should be made of material that is easy to clean, and cabinets should be large, while aesthetically pleasing. Also important to the value of a kitchen are the appliances. Stainless steel is popular due to its durability and how easy it is to clean. Any appliances should be coordinated to match. Another feature that may add or detract from the value of a kitchen is the lighting. If a kitchen has a single, dim light fixture, it may detract from the kitchen’s value. To improve a kitchen’s value, consider installing brighter light fixtures, which makes a kitchen seem more open.

Bathroom Renovations

Renovating a bathroom is also a good way to increase the value of any house. When renovating bathrooms, it is important to update the appliances. Outdated toilet, sink, or shower fixtures makes a bathroom seem much less appealing. By simply replacing sink fixtures, showers, and toilets, the quality and value of the bathroom may be improved. An outdated or plastic shower should be replaced with ceramic or glass. This creates greater aesthetic appeal, as well as a sense of durability. Another option to consider when renovating a bathroom is to replace the flooring. Bathrooms that have wood or linoleum flooring are not ideal. Wood and linoleum are less able to deal with large amounts of water, are harder to clean, and may develop mold. To increase the value of a bathroom space, consider ceramic tile flooring. Ceramic tiling not only makes bathrooms more aesthetically pleasing and easy to clean, but may also increase the bathroom’s value.

Money-Saving Tips

There are several ways that an individual may save money while renovating a home. For instance, consider ordering lighting or sink fixtures online. With a little research, it’s possible to find great deals over physical stores when buying items like lighting fixtures, tiles, or sink fixtures. However, it’s important to keep shipping costs and delivery time in mind when ordering online. This will prevent overpaying for an item or potentially delaying a renovation when fixtures don’t arrive on time.

For those who don’t wish to buy online, saving money may also be accomplished in person. For instance, when buying in bulk, ask for a volume discount. Oftentimes, the store owner may have discounts to offer for buying in bulk. Furthermore, may home improvement or hardware stores offer a price match guarantee. By shopping around, it’s possible to get renovation supplies for less through taking advantage of price match offers.

Overview

Home renovation may be expensive. However, by doing the research, it is possible to save money. Furthermore, by updating a home’s major systems, kitchen, curb appeal, and bathrooms, it is possible to easily increase the value of a home through renovation without breaking the bank.

Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

More From This Author

Special Offers

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2023/09/GlobeMailTopCompanies2023-1.png
Loans Canada places No. 228 on The Globe and Mail’s fifth-annual ranking of Canada’s Top Growing Companies.

By Caitlin Wood, BA
Published on September 29, 2023

Loans Canada is excited to announce it has made it onto the Globe and Mail’s Top Growing Companies list for the second year in a row.

https://loanscanada.ca/wp-content/uploads/2023/09/Finder-Awards.png
Finder Awards Finalists: Personal Loans Customer Satisfaction Awards 2023

By Priyanka Correia, BComm

Loans Canada is happy to announce it received the finalist award in the Best Personal Loan Search Platform category.

https://loanscanada.ca/wp-content/uploads/2016/12/caution-1.jpg
Beware of Fraudulent Lenders Impersonating Loans Canada

By Caitlin Wood, BA

A note to our clients about fraudulent lending practices and illegal upfront fees.

https://loanscanada.ca/wp-content/uploads/2020/12/Tax-Considerations-For-Parents-1.png
Family Tax Benefits For Parents

By Chrissy Kapralos

If you're looking for a federal or provincial family tax benefit as a parent, you'll come to find that there are many you can get in Canada

https://loanscanada.ca/wp-content/uploads/2021/03/Tim-Hortons-Rewards.png
Tim Hortons Rewards: What You Need To Know

By Priyanka Correia, BComm

The Tim Hortons rewards system is designed to help you get more out of your morning coffee purchase.

https://loanscanada.ca/wp-content/uploads/2020/03/Tax-Tips-Low-Income-Earners.png
Tax Tips For Low-Income Earners In 2024

By Bryan Daly

If you're a low-income earner, this is the advice you need to take full advantage of income tax season this year.

https://loanscanada.ca/wp-content/uploads/2024/04/Inheritance-Tax-In-Canada.png
Do You Pay Inheritance Tax In Canada?

By Jessica Martel

If you’re about to inherit a family asset, you may be concerned about its financial implications. Thankfully, you don't have too much to worry about w...

https://loanscanada.ca/wp-content/uploads/2021/02/Average-Rent-Payments-in-Canada.png
Average Rent Payments In Canada (By Major City) 2024

By Matthew Taylor

Are you a renter? Do you know how your rent compared to what the rest of Canada is paying? Here are the average rent payments by major city.

Recognized As One Of Canada's Top Growing Companies

Loans Canada, the country's original loan comparison platform, is proud to be recognized as one of Canada's fastest growing companies by The Globe and Mail!

Read More

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card