When preparing to sell you home, one of the best ways to enhance the value of your property and differentiate it from other homes on the market is to complete a number of basic renovations which will further attract buyers.  Investments into areas such as flooring, roofing, kitchens and bathrooms typically add significant margin to the resale value of your home.

 

When considering a renovation to your home prior to sale, it is very important to take into factor the current value of home and the market conditions.  The investment into a new bathroom may not make sense in a bachelor suite where it may make sense in a two bedroom, two bathroom home. 

 

The following represents some examples of potential renovations that a seller may consider and a representative return on the investment;

 

Renovation Type	Cost of the Renovation	Added Resale Value
Interior Paint	$1,000	$2,000
Lighting Fixtures	$2,500	$4,000
Hardwood Flooring Installation	$5,000	$7,500
New Bathroom	$6,500	$12,500
New Kitchen	$12,500	$22,500