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Our homes took on a whole new meaning during the pandemic, in which renovations increase home values differently as a result. In today’s world, the home is the perfect place to recharge and relax one minute, work without commuting to work the next, and vacation without having to leave when necessary.
Kitchens and bathrooms are still important to buyers, but a home office and outdoor entertainment area are now equally important.
Here are renovation ideas and trends that will add value to your home.
Bathroom Upgrades
1. Add a double-sink bathroom vanity
If a potential buyer spends more time at home, they want to know that their bathroom can handle a busy weekday morning. Enter the double sink vanity. In the bathroom, a double-sink vanity also defines personal space when things feel a little too tight.
2. Adding colour/ patterns
“But don’t realtors recommend sticking to neutral palettes?” You’re right. Changing the whole house’s design may hurt your home’s value, but confining these changes to one small area may increase the value! Boldly wallpapered powder rooms are on trend so a little bathroom is a perfect candidate for a drastic makeover. To really maximize value, opt for classic fixtures and furniture, but boost the walls with some bright wallpaper.
“But don’t realtors recommend sticking to neutral palettes?” You’re right. Changing the whole house’s design may hurt your home’s value, but confining these changes to one small area may increase the value! Boldly wallpapered powder rooms are on trend so a little bathroom is a perfect candidate for a drastic makeover. To really maximize value, opt for classic fixtures and furniture, but boost the walls with some bright wallpaper.
Additional Dwelling Units
ADUs have become incredibly useful and popular during the pandemic because they provide spaces for people to work away from kids and other members of the family. They can also be a source of income for homeowners.
ADUs remain popular due to their ability to increase property values. Although an additional dwelling unit on your existing property is a significant upfront investment, it can pay you back over time as well as increase your property value. An ADU can look like a finished basement apartment, an addition attached to your home, or a separate unit within your backyard or driveway. These spaces can be rented out while you own it, and will also increase your property value overall if you sell.
Outdoor Space
Another thing the pandemic has introduced us to is finding new ways to enjoy our homes. This means more people are upgrading their outdoor spaces, from vast backyards to cozy balconies. Whether that be building a new patio or revamping a terrace with a bistro table and chairs,this is something buyers will continue to prioritize when looking for a new home. As we continue to navigate this new normal, it is valuable to have these spaces to be able to safely gather with loved ones. Boost your property value by renovating your outdoor recreational space, whether this means installing a pool, remodeling your patio area, or updating your balcony.
Transitional Spaces
Another option for Canadians rather than splurging on backyards and balconies are transitional spaces. Our weather means many of us can only enjoy our outdoor patios and decks for about half the year. Investing in transitional spaces that blur the line between indoors and outdoors is a great idea. Consider renovating your porch or back deck area and turning it into a glass-enclosed conservatory. Even your main house can be extended with a sunroom if you have enough space. This additional square footage can significantly boost your property value.
Kitchen Upgrades
1. Install an island or walk-in pantry
The kitchen, being the center of the home, is always the main feature. Nowadays, it’s more common to have more than one person cooking at the same time, and people with different food prep and storage needs. Multiple sinks, a flexible pantry, refrigerator space, and convection microwaves to heat meals between conference calls and video meetings all have become desirable trends.
2. Add some colour
If you’re scared to take the plunge, opt for a deep or muted shade of blue and green. These colours and tones stand the test of time, maintaining your home’s value while also making it stand out. Create a vintage aesthetic by pairing with lux gold or brass accents, or keep things cool and modern with sleek silver or black hardware.
Additional Storage
Any type of extra storage, whether it’s an outdoor shed, a beautifully designed walk-in closet, or a pantry can increase your home’s value. It’s also a smart upgrade that won’t be falling out of favor any time soon, so it will never be a bad idea to maximize storage. With super-satisfying Tiktok videos and Instagram reels featuring the most organized spaces you’ve ever seen, a neat and tidy home is at the top of everyone’s wishlist. Boost your property value by building high-quality storage in all the opportunities you see fit, from shelves flanking your living room fireplace to sleek floor-to-ceiling concealed cabinets in your garage.
Multipurpose Spaces
Multipurpose spaces that give homeowners flexibility also have appeal and can increase value. Covid has changed how people interact with their homes. Open-concept floor plans, while popular and inviting, have been at the forefront of challenging work and school from home. It would be a great idea to find how to carve out a niche in your home that can double as a home office or a schoolroom for your children’s online learning.
1. At Home Office
While many of us have been hoping for life to get back to normal, the days of working nine to five in the office aren’t exactly here again. Many companies have also gone to a hybrid model, requiring employees to go in just a few days per week. This means home offices are a mainstay room in many homes. That’s why implementing a dedicated home office space in your home can boost its value. Of course, not everybody has a spare room to turn into a study. And that’s okay! A den, a nook, or even a multifunctional corner of your living room can be the perfect workspace.
2. Wellness / Fitness Space
Wellness is now an important request to add value to a home such as spa-like master bathrooms or well-equipped home gyms. These spaces are meant to give the homeowners the seclusion and privacy they desire.
Wellness is now an important request to add value to a home such as spa-like master bathrooms or well-equipped home gyms. These spaces are meant to give the homeowners the seclusion and privacy they desire.
Laundry Room Upgrade
Everyone needs clean clothes and having the space to do laundry can add value to your home. Having a sink, line for hanging delicates, a table for folding, and shelves for all the accouterments simplify this often daily task. Outfitting it with organization and storage and in a convenient location will make a big impact.
Sustainability
One of the smartest value-boosting renovations you can do for your home is investing in sustainable choices. finding a new use for old furniture and décor. This can mean a wide range of things: Using reclaimed wood for beams or floorboards, installing LED lighting, implementing energy-efficient appliances in your kitchen, adding solar panels to your roof, and much more. There’s a reason why they say ‘vintage never goes out of style. Instead of buying furniture that is completely new, homeowners will look to restore vintage pieces that can be passed down from generation to generation.
