{"id":3057,"date":"2023-08-17T12:46:45","date_gmt":"2023-08-17T16:46:45","guid":{"rendered":"https:\/\/www.mennosmartin.com\/blog\/?p=3057"},"modified":"2025-05-15T15:34:28","modified_gmt":"2025-05-15T19:34:28","slug":"is-a-home-renovation-a-good-investment","status":"publish","type":"post","link":"https:\/\/www.mennosmartin.com\/blog\/is-a-home-renovation-a-good-investment\/","title":{"rendered":"Is a Home Renovation a Good Investment?"},"content":{"rendered":"\n<p>Whether you\u2019re looking to make improvements to your home to sell or to make your home more livable and enjoyable, making sure that you get a return on your renovation investment might have differing strategies. Still, it is always worth maximizing your investment when and where you can.<\/p>\n\n\n\n<p>\u201cIf you plan to stay in your home for five years or more, invest what you can afford for the look and upgrades you want. If you\u2019re planning to sell, take a different approach. Focus on getting back the maximum return on your investment,\u201d says <a href=\"https:\/\/www.housebeautiful.com\/home-remodeling\/renovation\/a21970155\/renovation-worth-the-cost\/\" target=\"_blank\" rel=\"noreferrer noopener\">Brett Martin of House Beautiful<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Get a Home Inspection to Locate Any Potential Issues<\/h3>\n\n\n\n<p>It doesn\u2019t matter how stunning your kitchen is if your foundation is cracked and leaking. Buyers won\u2019t be motivated to move on your property\u2014no matter how beautiful it looks\u2014if there are major structural issues to consider.<\/p>\n\n\n\n<p><em>&#8220;It is always best to take a good look at the building envelope first (foundation, exterior walls and roof). These are the things that protect whatever money you spend on the inside.&#8221; <\/em><a href=\"https:\/\/www.mennosmartin.com\/meet-the-team\/\"><em>Trent Bauman<\/em><\/a><em>, Owner \/ Project Manager \/ Designer<\/em><\/p>\n\n\n\n<p>Don\u2019t spend on major facelifts in your home until you\u2019re sure the bones are in good shape.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Invest in Basic Home Maintenance Before Cosmetic Remodels<\/h3>\n\n\n\n<p>It may not be as exciting as a brand new kitchen or bathroom but siding replacements recoup more on your investment than a major kitchen or bathroom remodel.&nbsp;<\/p>\n\n\n\n<p>According to <a href=\"http:\/\/www.remodeling.hw.net\/\" target=\"_blank\" rel=\"noreferrer noopener\">Remodeling Magazine<\/a>, siding replacement (in the US) saw a 92.8% recoup on costs while replacing roofs and windows returned 80% or more at resale.<\/p>\n\n\n\n<p>\u201cBuyers are wise to structural issues, and learning that a homeowner has done their homework and made the proper investments to prevent flooding and leaks will go a long way in a buyer\u2019s eyes (and offer!),\u201d according to RE\/MAX.<\/p>\n\n\n\n<p>When looking at the \u201cbones\u201d of your home, the <a href=\"https:\/\/blog.remax.ca\/canadian-real-estate-renovation-trends\/\" target=\"_blank\" rel=\"noreferrer noopener\">RE\/MAX 2021 Renovation Investment Report<\/a> recommends prioritizing the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Roof<\/li>\n\n\n\n<li>Windows<\/li>\n\n\n\n<li>Gutters and drains<\/li>\n\n\n\n<li>Foundation<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" width=\"768\" height=\"975\" src=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-1.webp\" alt=\"\" class=\"wp-image-3063\" style=\"width:576px;height:731px\" srcset=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-1.webp 768w, https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-1-236x300.webp 236w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>These renovations will pay off: according to RE\/MAX, \u201cRenovations that will save homeowners money in the long run will draw a higher return, around 75 percent, depending on the scale of the reno.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cosmetic Renovations<\/h3>\n\n\n\n<p>Don\u2019t be disappointed if you were really hoping for a kitchen reno: while you\u2019re less likely to recoup your investment with a major kitchen renovation, minor kitchen renovations fared much better, <a href=\"https:\/\/www.hgtv.com\/lifestyle\/clean-and-organize\/which-home-improvements-pay-off\" target=\"_blank\" rel=\"noreferrer noopener\">returning at 92.9%<\/a>, so consider some smaller updates.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"768\" height=\"512\" src=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-2.webp\" alt=\"\" class=\"wp-image-3062\" srcset=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-2.webp 768w, https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-2-300x200.webp 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In addition to ensuring the structural integrity of your home, the <a href=\"https:\/\/blog.remax.ca\/canadian-real-estate-renovation-trends\/\" target=\"_blank\" rel=\"noreferrer noopener\">RE\/MAX 2021 Renovation Investment Report<\/a> outlines some areas to consider to ensure your return on investment, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Paint &#8211; A fresh coat of paint typically garners a 60% return on your investment.<\/li>\n\n\n\n<li>Doors &amp; Hardware &#8211; Smaller projects that have less of a \u201cwow\u201d factor, and may even go unnoticed in an open house, draw a smaller return, around 50% of your initial investment.<\/li>\n\n\n\n<li>Countertops &#8211; Kitchen renovations have the best return on investment, typically garnering a 75-100% return.<\/li>\n\n\n\n<li>Flooring &#8211; Depending on the flooring you choose, the return is generally 100-150% of your investment.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Curb Appeal<\/h3>\n\n\n\n<p>You want to bring potential buyers into your home, so make sure they\u2019re not turned away by the appearance of the outside of your home.<\/p>\n\n\n\n<p>&#8220;Even a little goes a long way in terms of renovating or refreshing the curb appeal of your home. I always recommend buyers drive by a house before booking a viewing, to get a feel for the neighbourhood. You want your home to look as inviting as possible on that first visit, or in your listing photos. The less work a potential buyer needs to do, inside AND out, is going to put your home at the top of their list,&#8221; says realtor Jen Zeigler, with RE\/MAX Solid Gold Realty (II) LTD in Waterloo Region.<\/p>\n\n\n\n<p>Thankfully the basic maintenance updates like windows, roofing, gutters, drains, and siding keep your home\u2019s exterior looking fresh and well cared for.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"768\" height=\"512\" src=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-3.webp\" alt=\"\" class=\"wp-image-3061\" srcset=\"https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-3.webp 768w, https:\/\/www.mennosmartin.com\/blog\/wp-content\/uploads\/2023\/08\/msm-blog-august-2023-3-300x200.webp 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>\u201cWhen you want to sell your house for the best possible price, you need to grab the attention of the potential buyer quickly,\u201d says <a href=\"https:\/\/www.thespruce.com\/resale-value-of-your-renovations-1822431\" target=\"_blank\" rel=\"noreferrer noopener\">Lee Wallender of The Spruce<\/a>.<\/p>\n\n\n\n<p>Wallender recommends high-value home remodels like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Fiber-cement siding replacement<\/li>\n\n\n\n<li>Garage door replacement<\/li>\n\n\n\n<li>Manufactured veneer stone<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Try to complete these renovations without spending too much money in order to make a profit or break even on the house sale, he advises.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Improve Energy Efficiency<\/h3>\n\n\n\n<p>Investing in <a href=\"https:\/\/www.mennosmartin.com\/blog\/the-hidden-benefits-of-a-home-renovation\/\">improving your home&#8217;s energy efficiency<\/a> will save you money on bills.&nbsp;<\/p>\n\n\n\n<p>Consider:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Installing double- or triple-paned windows&nbsp;<\/li>\n\n\n\n<li>Upgrading your insulation&nbsp;<\/li>\n\n\n\n<li>Replacing your HVAC system<\/li>\n<\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Getting Started<\/h3>\n\n\n\n<p>Rest easy knowing that we can guide you in what renovations will provide the best return on your investment. We pride ourselves on delivering custom, high-quality projects that are designed to suit your specific needs all while standing the test of time.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.mennosmartin.com\/contact\/\">Send us a message<\/a> to get started on your renovation!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re looking to make improvements to your home to sell or to make your&#8230;<\/p>\n","protected":false},"author":6,"featured_media":3060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[35],"tags":[],"class_list":["post-3057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-renovation-tips"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is a Home Renovation a Good Investment? - Menno S Martin Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mennosmartin.com\/blog\/is-a-home-renovation-a-good-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is a Home Renovation a Good Investment? 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