Renovation Tips That Add Value to Your Home

Home renovations can be an exciting yet challenging endeavor, especially when trying to balance personal preferences with projects that will add long-term value to your property. Whether you’re planning to sell your home in the near future or simply want to increase its equity, certain upgrades offer the best return on investment (ROI).

At GLM Mortgage Group, we understand the financial aspect of home improvements and how they fit into your overall mortgage strategy. Whether you’re looking at refinancing options, a home equity loan, or budgeting for upgrades, our expert mortgage advisors can help you navigate the best solutions tailored to your needs. In this blog, we’ll explore renovation projects that boost your home’s value and help you make the most of your investment.

1. Kitchen Upgrades: The Heart of the Home

The kitchen is often considered the focal point of a home, and renovations in this space tend to have the highest ROI. Some effective upgrades include:

• Cabinet Refacing or Repainting: Instead of replacing cabinets entirely, a fresh coat of paint or new veneers can modernize the space at a fraction of the cost.
• Countertop Replacement: Quartz and granite countertops remain popular choices for their durability and aesthetic appeal.
• Updated Appliances: Energy-efficient appliances not only improve functionality but also attract eco-conscious buyers.
• Lighting Enhancements: Under-cabinet lighting, pendant lights, and recessed lighting create a warm and inviting atmosphere.

ROI Expectation: 75-100%

2. Bathroom Renovations: Modernize and Increase Functionality

Updated bathrooms can significantly boost your home’s resale value. Consider these improvements:

• New Fixtures: Replacing outdated sinks, faucets, and toilets can modernize the space instantly.
• Walk-In Showers: Converting a tub to a walk-in shower can appeal to both young professionals and aging homeowners looking for accessibility.
• Heated Flooring: A small luxury that adds considerable comfort and value.
• Smart Features: Motion-sensor lighting and touchless faucets add convenience and efficiency.

ROI Expectation: 60-80%

3. Curb Appeal: First Impressions Matter

A well-maintained exterior can make or break a home’s value. Enhancing curb appeal is one of the most cost-effective ways to increase equity. Key upgrades include:

• Landscaping: Fresh mulch, trimmed hedges, and seasonal flowers make a home more inviting.
• New Front Door: A modern or well-maintained door can boost a home’s aesthetic while improving energy efficiency.
• Exterior Painting: A fresh coat of paint can dramatically improve the look of an aging home.
• Upgraded Garage Doors: A stylish, functional garage door can enhance curb appeal and increase security.

ROI Expectation: 75-150%

4. Basement Finishing: Unused Space into Livable Square Footage

A finished basement provides additional functional living space, which is a major selling point. Consider the following additions:

• Guest Suite or Rental Unit: Converting a basement into a legal secondary suite can generate rental income.
• Entertainment Area: Home theaters, game rooms, or bars create an inviting space for families and guests.
• Home Office: With the rise of remote work, a dedicated office space is highly desirable.

ROI Expectation: 70-100%

5. Energy-Efficient Upgrades: Long-Term Savings & Market Appeal

Buyers are increasingly drawn to energy-efficient homes due to rising utility costs and environmental concerns. Some top upgrades include:

• High-Efficiency Windows & Doors: Reduce heating and cooling costs while enhancing insulation.
• Smart Thermostats: Devices like Nest and Ecobee help optimize energy use.
• Solar Panels: Though costly upfront, solar energy systems can significantly reduce electricity bills.
• Upgraded Insulation: Adding insulation to walls, attics, and basements improves energy efficiency.

ROI Expectation: 50-75% (higher for insulation and windows)

6. Open Concept Layout: Modernizing Your Living Space

Knocking down non-structural walls to create an open layout can make a home feel larger and more inviting. Popular changes include:

• Merging Kitchen and Living Spaces: Enhances social interaction and natural light flow.
• Expanding Doorways & Hallways: Improves accessibility and aesthetic appeal.
• Removing Popcorn Ceilings: Outdated ceiling textures can lower perceived home value.

ROI Expectation: 60-90%

7. Smart Home Technology: The Future of Living Spaces

Modern homebuyers look for convenience, and smart technology delivers just that. Consider installing:

• Smart Security Systems: Cameras, video doorbells, and alarm systems increase safety.
• Automated Lighting & Blinds: Offers ease of use and energy efficiency.
• Whole-Home Sound Systems: Enhances entertainment experiences.
• Smart Sprinklers: Save water while maintaining a beautiful yard.

ROI Expectation: 50-70%

Financing Your Home Renovation: GLM Mortgage Group Can Help

Before embarking on home renovations, it’s essential to plan your finances wisely. GLM Mortgage Group offers expert mortgage advice and financing options, including:

Home Equity Loans

If you’ve built significant equity in your home, a home equity loan allows you to borrow against it at a competitive rate.

Refinancing Options

Refinancing your mortgage can provide the necessary funds to complete renovations while securing a lower interest rate.

Purchase Plus Improvements Mortgage

If you’re buying a home that needs work, this mortgage allows you to roll renovation costs into your loan.

At GLM Mortgage Group, we help homeowners in British Columbia navigate the financial side of renovations, ensuring you get the best advice for your unique situation.

Final Thoughts: Maximizing Your Home’s Value

Investing in home renovations can be a game-changer for property value and personal enjoyment. Prioritizing high-ROI upgrades such as kitchen remodels, bathroom improvements, curb appeal, and energy-efficient enhancements will yield the best financial returns. Before starting any project, consulting with experts—whether real estate agents, contractors, or mortgage advisors—ensures you make informed decisions.

If you’re ready to finance your home renovations or explore the best mortgage solutions, GLM Mortgage Group is here to guide you every step of the way. Contact us today for expert advice and personalized financial strategies to help you maximize your home’s potential!