5 Home Renovations Kelowna Homeowners Can Do For the Best ROI

New flooring is one of the home renovations Kelowna residents can do to get a return on their investment.

New flooring is one of the home renovations Kelowna residents can do to get a return on their investment.

With the trend in Okanagan real estate tipped towards the sellers’ market, there are some home renovations Kelowna homeowners can do now before the snow flies to help them get a return on their investment (ROI) and even boost their home’s value up to 15 per cent. According to Canadian Mortgages Inc., home improvement projects that create the best curb appeal, both inside and out, can help with your ROI. Other factors depend on the value of the home, its location, the cost of homes in the neighbourhood, and the cost of contracting.

Here are some of the best projects to start with:

 

1. Bathroom and kitchens

If you’re looking at renovating and want to make the best decision on where to start, then you just need to look at the two rooms we use the most: the bathroom and kitchen.  If you do it right and hire from home renovation contractors Kelowna trusts, you will likely get a 75-100 per cent ROI.

Areas to consider upgrading or replacing include:

  • Appliances, including tubs and showers
  • Floors
  • Lighting and plumbing fixtures
  • Paint, tiles
  • Doors, trim and baseboards

 

2. Basements

They may not be seen by the average visitor, but renovating your basement can give you up to a 50-75 per cent ROI, especially if you add new rooms to your home, such as bedrooms, an entertainment space, and more storage. For those thinking about  turning their basements into secondary suites, it’s best to make sure zoning requirements for the City of Kelowna are met, as an illegal suite can lead to notice on your tax certificate or legal action.

 

3. Flooring Upgrades

Replacing or upgrading the flooring in your home not only freshens up the look, it can give you a decent return on investment, up to 50 per cent. Sanding and finishing hardwood floors will give you the best return, as it is relatively inexpensive to do, while carpeting seems to give the least return in value. Other medium-to-low cost materials to consider for flooring are:

  • Porcelain
  • Ceramic Tiles
  • Laminate
  • Vinyl

 

4. Replacing exterior siding

The outside of your home is just an important as the inside, as it gives the first impression. There is a misnomer that siding is really expensive. However, there have been significant improvements in both materials and the way Kelowna construction companies install siding that is faster and more efficient. Homeowners may want to look at fiber cement board because of energy savings as well as curb appeal.

 

5. Upgrading Patios and Decks

Another exterior renovation that will give you a high ROI is improving your outdoor living space. More expensive options such as composite or wood decks can give you up to 70 per cent ROI, while other trends, including concrete pavers, may cost less, but the return should pay off if you are installing a ground-level patio.

Looking to remodel your kitchen? Read 4 Things to ask Contractors About Kitchen Renovations in Kelowna.

 

Rafter 4K Contracting have been conducting home renovations in Kelowna for the past 30 years. We specialize in kitchens, bathrooms, decks, patios, flooring, tile work, painting and much more. Ask us how we can help you get the best return on your investment. 

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