Royal LePage Identifies Top Renovations With the Best Return on Investment

Whether doing-it-yourself or hiring a professional, interior painting, hardwood flooring and kitchen upgrades are amongst top renovations.

If you’ve spent years waking up to wood-panelled walls and soft shag rugs, some home renovations, especially if you’re thinking of selling your home, may be in order. While some renovations such as updating a kitchen or bathroom may require a trained professional, there are a number of do-it-yourself projects that are sure to increase a home’s resale value. The Royal LePage Renovations and Returns Survey examines some top renovations that bring the best return on investment (ROI), as compiled by the Royal LePage network.

“Amid today’s competitive real estate market, renovations offer a relatively affordable means to boost the value of a home,” said Lisa da Rocha, vice president, marketing and sales, Royal LePage Real Estate Services. “Do-it-yourself tasks such as painting walls, changing cupboard knobs or laying new flooring will make a house not only more appealing to buyers, but also offer a great return on investment.”

Reasonable and radical renovations. From simple aesthetics to washroom overhauls, Royal LePage has identified the top renovations that will increase the equity of a home. The list is ranked in ascending order of cost of project.

Freshen up: Adding a new coat of paint can freshen up a house and make the interior look like new – not to mention more spacious. For homeowners looking to sell in the near term, neutral colours are most preferred.

Floors galore: Today, hard surfaces are all the rage. If genuine hardwood exceeds budgets, laminate works well. Buyers like to see hard floors throughout, so if possible, be sure to lay down laminate in dining rooms and living rooms, and even in bathrooms and bedrooms.

Lighten up: Old or standard-grade light fixtures, electrical and light cover plates can easily date a house. To modernize, add distinct flair to the interior, consider installing new light fixtures.
Pebble Beach? Well, close: The old adage, you never get a second chance to make a first impression is extremely true when it comes to selling a home. To increase curb appeal and entice buyers, ensure front lawns are tidy and gardening is minimal. While there is no need to go overboard and plant an expensive Japanese Maple, adding some standard shrubs and flowers will make a home more inviting.

Stylishly steel: Similar to the issue with old light fixtures, knobs, fume hoods and backsplashes can make a kitchen seem outdated. Sleek, stainless steel hardware designs have the biggest and most positive impact on those people looking to buy a home.

Opening all the right doors: An elegant entrance enhances a prospective buyer’s first impression of the house itself.

ROI from the ground up: To see an even higher return on investment, replace old flooring with new hardwood. While a range of qualities, textures and colours exist, it’s best to opt for a neutral wood colour to accommodate the widest possible array of tastes and décor.

White picket fence?: Building a fence and a deck instantly boosts a home’s appeal. Keeping kids and pets in the yard, and nosey neighbours out, fences provide the back and side yards with a sense of being finished.

Occupied, no more: A bathroom situated on the main floor is increasingly seen by homebuyers as an essential fixture in their next purchase. While many older homes were built with bathrooms only on the second floor, many homeowners are resorting to transforming closets or adding new rooms to accommodate two-piece powder rooms.

Exquisite en suite: Today’s homebuyer prefers bathrooms that have spa-style tubs and modern faucets. Granite and marble tiles are now readily available and can be purchased at relatively affordable prices.

Everything, and the kitchen sink: While prices can vary when renovating a kitchen, one thing is certain – updated kitchens bring one of the highest returns on investment. With homeowners spending more time in the kitchen than any other room, it’s no surprise they want the best possible style and functionality. Stainless steel appliances, ceramic sinks and clean lines on cupboards rank as the more preferred finish options. Since kitchens and baths can be such a personal space, it’s wise not to select a dramatic style or colour scheme since your tastes may not be the same as the next owner.

A Breath of Fresh Air: Improving Your Home's Air Quality

Is the air in your home making you sick? It can be as innocuous as a persistent cough, rash or headache. But, for the very young, the elderly and those with respiratory disease, the effects of indoor air contamination can be far more serious. The very air you breathe could be affecting the comfort and health of your family. Recognizing the symptoms of poor air quality is the first step toward fixing the problem. Bad air can be the cause any of the following symptoms:

- Fatigue
- Headaches
- Cold or flu symptoms such as coughing, congestion and sneezing
- Redness or irritation of the eyes
- Irritation of the nose or throat
- Dry, chapped or irritated skin
- Allergies
- Asthma attacks

Your home may have bad air if you or your family continuously experience any of these indicators, primarily when spending time at home.

In some cases the cause is obvious. Cigarette smoke and pet dander, particularly in poorly ventilated areas, are common culprits. But in many cases, the source is hard to identify. You may be able to locate the source by centring your attention in rooms where symptoms are more severe. Your basement is a good place to start, as basements are breeding grounds for mould, another leading cause of poor air quality. Look for damp areas, mould and mildew and dust accumulation. Is there a musty smell in the air? Is drywall, carpet or drapery stained or discoloured? Chemical fumes from a recent renovation or fumes from an attached garage or workshop could also be to blame.

Every home should have a carbon monoxide detector. Carbon monoxide is an odourless gas caused by combustion sources like gas appliances, wood stoves/fireplaces and automobiles. Initial warning signs of carbon monoxide poisoning include sore throat, dizziness, headache and sleepiness - prolonged exposure can be fatal. Carbon monoxide detectors are available commercially and are required by law in some Canadian districts.

Solving the problem can be as easy as removing the source. Mould can be destroyed by cleansing the area with a mixture of one part chlorine bleach to four parts water. Wash the area thoroughly and let it stand for about 15 minutes before rinsing. To avoid recurrence, ensure that the affected area remains free of moisture. Contaminated carpet, underlay and furniture should be removed and discarded.

Routinely change furnace and air conditioner filters and keep your home clean and dust free. When removing the source is not possible or proves ineffective, there are other measures you can take:

- Improve ventilation in affected rooms
- Humid air can cause and exacerbate air quality. Consider purchasing a dehumidifier
- An air filtration system can be installed in the home

When symptoms are severe it is best to rely on a professional. Hire an environmental consulting company to analyze the air in your home, identify the cause and recommend a solution.