With the price of real estate continuing to rise, home renovation projects are more important than ever. With careful planning and smart renovation strategies, homeowners can increase the value of their property while staying within a reasonable budget. North Vancouver is one of the most popular areas in the region for home renovations due to its high density of old houses with huge potential for improvement. Whether you own a small condo, a cottage, or the main residence, there’s no better time than now to start planning your upcoming renovations. We will take a look at some of the top trends in North Vancouver home renovations this year. If you’re thinking about renovating but aren’t sure where to begin, keep reading for some great ideas and advice.
Add value to your property
The first thing to keep in mind when considering a home renovation project is how it will impact the value of your property. In many ways, increasing your property’s value is one of the main reasons for undertaking renovations in the first place. When you’re trying to sell your house, the higher its value, the more money you can get for it. While some renovations will increase the value of your property more than others, they all have some effect on it. A home renovation project can add anywhere from 5 to 20% to the value of your property. Some projects, like landscaping, have a small effect on the value of your property, but they can still be a good investment if it’s something you’re interested in doing anyway. The most effective renovations for increasing the value of your property are those that increase the property’s livability and functionality. In other words, renovations that make your property more comfortable and enjoyable to live in are the best options.
Modernizing your bathroom
While modernizing your bathroom doesn’t have quite the same effect on the value of your property as some of the other renovations on this list, it’s still a worthwhile project. Most people don’t think about the bathroom when planning their home renovations, but it’s actually an important room that can add value to your property. Bathroom renovation is one of the most effective ways to increase the value of your property. You can add as much as 5% to bathroom renovations. While this may not sound like a lot, it’s actually a significant increase. This is a good project for the budget-conscious homeowner. There are many ways you can modernize your bathroom without spending a lot of money.
Re-tile your bathroom
If you’re planning a home renovation project, you’ll be happy to hear that, according to a recent study, replacing your bathroom tiles is one of the most effective ways to increase the value of your property. Although it’s an often-overlooked home renovation project, re-tiling your bathroom can add as much as 8% to the value of your property. Most homeowners who consider this renovation project believe that it only adds a small amount to the value of their property, so they often choose to spend a small amount on it. Even though the value increase may be small, the return on investment is extremely high. This is because this is one of the cheapest renovations that you can do to increase the value of your property and it’s also one of the easiest to complete. In bathroom renovations, keep in mind that the type of tile you choose will have a big impact on the value of your property. The best type of tile to use for this project is porcelain or ceramic tile.
Addition of an indoor kitchen or eating area
Another great way to increase the value of your property through home renovations is by adding an indoor kitchen or eating area. With the rise of the modern homeowner, this type of renovation is expected to become increasingly common over the next few years. Adding an indoor kitchen or eating area can add up to as much as 14% to the value of your home. An indoor kitchen is a great way to add value to your property, especially if you own detached home. This type of renovation is often used to add value to detached homes that are being sold because it increases the property’s livability and functionality while also giving the home more curb appeal. When planning an indoor kitchen renovation, keep in mind that the more appliances and features you add, the more value it will add to your property.
Update your kitchen
Another fantastic renovation idea for homeowners in North Vancouver is renovating your kitchen. It will increase the value of your property. While updating your kitchen, there are a few things you should keep in mind to get the most value out of the project. It’s important to stay up to date with current design trends to make sure your kitchen is functional and stylish. It’s also important to stay within your budget and use the best materials for your future home. If you’re planning to sell your home in the near future, it’s a good idea to renovate your kitchen before you put it on the market. This will give potential buyers a reason to buy your home over others. A kitchen renovation helps increase the value of your home!
Replace your windows
Another great renovation project for homeowners in North Vancouver is replacing their windows. Replacing your windows is one of the most effective ways to increase the value of your property. According to a study, homeowners can add as much as 12% to the value of their property by replacing their windows. This renovation project is a good choice for homeowners who want to increase the value of their property but don’t want to spend a lot of money. The average cost of replacing the windows in a residential home is between $3,000 and $6,000. This is significantly less than many other home renovations, which makes it a great value for the dollar. When planning a window replacement project, remember to stay up to date with current design trends. You don’t want your new windows to look out of place with the style of your home. Also, choose a material that will be durable and energy efficient.
Renovations for your home’s exterior
The exterior of your home is one of the first things a potential buyer will notice and it’s also one of the easiest places to add value to your property through renovations. There are several ways you can add value to your property through exterior renovations. You can replace your roof, add a new deck or patio, or repaint the exterior of your home. Replacing your roof is one of the most effective ways to increase the value of your property. In fact, this renovation project can add as much as 16% to the value of your home, making it one of the best ways to do so. This is a large and expensive renovation project, but it’s well worth the cost. Adding a deck or patio is another great way to increase the value of your property. This renovation project is a bit less expensive than replacing your roof, but it can still add as much as 10% to the value of your home. The last way you can add value to your home through exterior renovations is by repainting your home. This is one of the cheapest ways to increase the value of your property.
Additions and patio renovations are also extremely popular
Another great renovation project you can do to increase the value of your home is adding an addition. Homeowners can add as much as 10% to the value of their property by adding a new addition. Adding a patio is another common home renovation project in North Vancouver. You can add up to 8% to the value of your home by renovating your patio. These are two of the most common types of home renovations in North Vancouver and for good reason. They’re relatively inexpensive and effective ways to increase the value of your property.
Adding a second story is one of the most popular renovations in North Vancouver this year
A second story is a major addition that extends your home’s indoor area above ground level. It’s a cost-effective way to add living space to your house while still keeping your renovation costs low. A second story can increase the value of a home by as much as 90%. This is the highest return on investment of any home renovation. If you’re thinking about adding a second story to your home, you have a few options. You can decide to add a single-story addition to your house, build a two-story addition, or a combination of the two.
Smart Home Updates
Technology is constantly evolving, and home renovations are a great way to keep up with the latest innovations. If you want to take your real estate from good to great, it’s a good idea to include some smart home updates in your renovation plans. Adding smart home technologies like smart speakers, automatic shades, motion sensors, and wireless alarms can greatly improve the functionality of your house. These smart home updates can increase the value of your house by an average of 42%.
Conclusion
You should have a good idea of some of the top trends in North Vancouver home renovations this year. If you’re thinking about renovating but aren’t sure where to begin, it’s best to start by looking at your home’s needs and flaws. Once you’ve identified the areas in your home that need work, you can start to think about what renovations you’d like to do. With careful planning and smart renovation strategies, homeowners can increase the value of their property while staying within a reasonable budget. Let Lower Coast help! Our team of home renovation specialists can help.
