Where to Put Your Money In Your House: Top 5 RENO’s For Optimal Resale Returns

(As adapted from an article in Westcoast Condo and Homes April/May 2019.  Author: Homebuilder’s Association Vancouver. (pg 37/38))

I’m often asked, “Where is the best place to put your money, if you are getting ready to sell your home.”  Besides the obvious things such as performing deferred maintenance, cleaning up the landscaping, decluttering and depersonalizing, and deep cleaning, the following provide the best returns.

  1. Paint!   Give everything a fresh coat:  Doors, walls, trim and the inside of the closets.  They can be a giveaway as to how the house was treated.  Choose light tones such as Revere Pewter (a warm grey) with cloud white or oxford white for the trim, closets and ceilings.
  2. Mouldings!  Before you paint, consider replacing damaged mouldings, especially in high traffic areas.  If you decide to change all mouldings, consider trims and doors that are simple.
  3. Bathrooms!  If your fixtures are dated or the room is just run down, consider a bathroom renovation.  The least expensive is just to remove and replace the old fixtures with new ones including vanities, sinks, faucets, tubs and toilets.  Updating the flooring and lighting are also highly recommended. Stay with neutral finishes and white for the tub, sink and toilet.
  4. Flooring!  If your hardwood, tile or laminate is dated or in rough shape, new beautiful flooring can make your home feel more expansive, warm and welcoming.
  5. Kitchens!   Last, but certainly not the least expensive, a kitchen reno can significantly increase the value of your home.  However, it can also be the most intrusive and may even put you out of your home for awhile.

And unless you are a skilled craftsperson, get professionals to do the work.  Do It Yourselfer’s, without the requisite skillset, do subpar work that is easily spotted and a turn off to potential buyers. Get it done right, to get the best return.

Here is a plug for the writers of the article.  The Homebuilders Association of Vancouver (HAVAN) represents the residential construction industry in the Metro Vancouver Area.  They have a website where you can search for a professional for the job you need done. Go to havan.ca.