What To Consider When Renovating for Resale
If you’ve been following along for a while, you’ll know that my husband and I purchased our first home about 3 years ago and have been working through updating it ever since. Our home is a smaller bungalow that was built in 1957 and at the time of purchase, was in dire need of some love. Long story short, we’ve overhauled the main floor by removing one of the existing bedrooms to create a more functional primary suite, updated the main bath, installed new floors throughout, refinished the entire basement, and re-painted every surface in the entire home.
In addition to all the fun stuff, we also did a bunch of not so much fun stuff to make the house more energy efficient. The attic was reinsulated, we’ve replaced the (original) furnace with a heat pump, installed a new hot water heater (also run by a heat pump), air sealed all the headers in the basement, and replaced the majority of our appliances.
Since we plan on being in our house for the next 20+ years, I wasn’t overly concerned about renovating for resale but for many people looking to renovate their home, that’s not the case. So today I wanted to share some of the best updates to guarantee your home remains desirable to today’s buyer based on my personal experience and my experience working in the new home building industry.
The Kitchen
Let’s start with the biggest item; the kitchen. When we were house shopping, the idea of having to renovate a kitchen was a bit of a hot topic. I knew I didn’t want a super outdated kitchen but felt overwhelmed by the idea of renovating one right away. Thankfully, the kitchen in the home we purchased felt good enough. Despite the finishes being a bit dated and the appliances needing to be replaced, the layout of the kitchen works really well for us.
Interestingly enough, function is also key for today’s buyer. Islands are incredibly popular because not only do they provide a space to work, they can provide additional storage and give family members and guests a place to gather. Open concept kitchens are also desirable, which I didn’t find overly surprising when you consider that for many families, the kitchen is the heart of the home, and an open concept allows space to prep, visit, and host, while also remaining connected to the rest of the main living space.
If a full on kitchen renovation isn’t feasible, simply replacing older appliances with energy efficient ones (bonus points if they are also smart appliances) would go a long way.
In terms of materials, these days buyers seem to be leaning towards tile floors, painted cabinets, and quartz countertops.
The Primary Bedroom
Our home initially had three bedrooms and one bathroom on the main floor and at the time, removing one of the bedrooms did feel like a bit of a risk in terms of re-sale. But despite a bit of hesitation we went for it because having a spacious bedroom, functional walk-in closet, and well designed ensuite was incredibly important to us.
As it turns out, we aren’t the only ones who feel that way. For many of today’s buyers, a primary retreat which includes all of those features is becoming more and more of a non-negotiable.
And if you are thinking about updating your ensuite, the more desirable elements are double sinks and an oversized walk-in shower.
The Mudroom
Mudrooms are interesting to me because I think that the evolution of the mudroom really speaks to how much our daily lives have changed over time. Here’s what I mean: one thing I noticed in many of the older homes we looked at while we were house shopping was that they really didn’t have much of an entry space. Our home in particular has a back landing that’s maybe 5’x7’ in size and when you consider that a typical household in the 1950’s & 60’s included 4 people, it’s baffling to me how they were able to make such a small space work.
Fast forward to today; if the kitchen is where everyone gathers and settles, the mudroom is where everyone gathers and chaos ensues. It’s a place where people (and pets) are constantly coming and going yet it’s also a drop zone for coats, shoes, bags, keys, seasonal gear, and pet supplies. It’s an area where storage is key, but space to move is equally important. In new builds, it’s very common to have full walk-in closets right off the entry, but I’ve also noticed more and more higher end homes incorporating very spacious mudrooms which include full height cabinets, locker style storage, and long benches.
Technology
With how reliant we are on technology, I feel like it’s no surprise that it’s making it’s way into our homes. My husband is all over this, but the conspiracist in me is still a bit skeptical (does anyone else remember The Simpson’s ‘House of Whacks’ episode where the robot house tried to murder Homer?) But I digress.
I’ll start with energy efficiency, which has become more of a must-have for buyers who are looking to reduce their utility costs. In addition to swapping out old appliances for more energy efficient ones, installing high efficiency windows and an HRV/ERV air exchange systems will make your home much more appealing. It’s also worth considering a tankless water heater, as they seem to be growing in popularity. At this time, solar panels are a nice to have and would certainly set your home apart from the competition if it was listed on the market, but it’s not something buyers are willing to pay significantly more for.
Smart technology is also worth considering if you’re doing any upgrades to your home. I’ve already mentioned smart appliances, but Wi-Fi thermostats, smart lighting, and security systems are also very popular among today’s home buyers.
Aging In Place
‘Aging in Place’ features may not be easy to incorporate into your home, but I think it’s worth mentioning as many Canadians want to live in their homes as long as possible. If you’re unfamiliar with the term, ‘Aging in Place’ refers to features which allow an aging individual to live safely and independently in their home so long as they are able.
I’m going to list a few ideas here, recognizing that some of them may not be possible to incorporate into a reno, but could be considered if you are starting from scratch:
Wide doorways and hallways. Not only will the accommodate wheel chairs, they can make a home feel more luxurious.
A primary suite on the main floor. This is actually becoming a huge deal in the new housing industry in recent years partially due to aging in place but also as a result of multiple generations sharing the same house.
Grab bars in bathrooms, touchless faucets, motion sensor lights, and stairless/step-less entries.
Key Takeaways
Ultimately, I personally believe that your home should function for you and your family. While making changes for re-sale may make you feel better about spending the money, the advice I would give any one is if the changes your considering won’t positively impact your life, I would question whether or not the change is really worth it. That said, when it comes to adding market value to your home, the three things I would recommend keeping in mind are:
Incorporating effective & functional storage space(s) throughout the entire home.
Open concept kitchen w/ an island.
Overall energy efficiency home.
Did you find this post helpful? I’d love to hear your thoughts in the comments below!
BY EMILY RADKIE
