Want to make sure you get your investment back on your next home renovation project?
Then make sure you choose a project that will get you the most bang for your buck.
If you plan on living in your home forever than looking for an ROI for your project might not be a big deal. But the reality is, according to Lisa Sinopoli, a real estate agent in Vaughan says the average family moves once every 5 years.
There are hundreds of home renovation projects you can do to both improve the value of your home as well as provide a more enjoyable living space for you and your family.
Most of the home reno projects that prove to be a good value involve either improving important spaces in your home or adding additional living space in your home.
The most popular places int he home for most families is the kitchen. The kitchen is the place where the family gathers to eat and talk about their day. It is the central place for families to gather. This is why a kitchen renovation can be one of your best bets when it comes to a renovation project for your home.
An outdoor deck also provides a great space for the family to gather and for you to entertain guests. It is also an inexpensive renovation compared to adding an entire room to your house.
Getting the best ROI for your project is to turn current space in your home into enjoyable living space. Adding quality square footage using your existing footage is always a great investment.
While you may not be concerned about getting a good ROI for your home renovation project, it’s always a good idea and you will be happy once you decide to sell your home one day.
You’ll also have to decide what kind of renovations are within your own skill set and which ones would require a professional contractor to help with. Something like tiling your kitchen bathroom might be within your skill set to do but a larger project like a full home renovation would certainly require the help of a contractor.
When we did a home addition in Toronto for our home, it was a big project and we were very happy we let a professional contractor take on the project instead of us, which would have ended in disaster.