9 Renovations That Increase Home Value | LIDA Construction

9 Renovations That Increase Home Value

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Unveiling the Power of Renovations with LIDA Construction

At LIDA Construction, we’re experts in creating renovations that increase home value and offer a maximized return on investment. With a keen eye for detail and a passion for exceeding expectations, we take pride in turning your vision into a stunning reality that enhances your home’s beauty and value.

When renovating your home for pleasure, the sky is the limit! On the other hand, upgrading a home to increase its selling price is an entirely different experience. Understanding your local real estate market will help you decide where to spend money within the renovation and allow you to be sure that the renos you are making will pay off in the long-term sale of your property. 

Read on to find out what renovations increase home value the most. 

9 Upgrades That Improve Selling Price

While increasing your home’s selling price might be top of mind, upgrades will also increase enjoyment and maintain your home’s worth. Join us as we learn more about how renovations can increase the value of your home.

1. Kitchen Renovations Top the List

Want the best bang for your buck? Paying back, on average, seventy-five to one hundred percent, according to the Appraisal Institute of Canada, kitchen remodels are one of the most valuable upgrades you can make. 

Do you live in a hot real estate market where high-end luxury is the expectation? Here are a few ideas to take your kitchen renovation to the next level.

  • Add an island with a wine fridge
  • Install a walk-in pantry
  • Reconfigure your space into an open layout
  • Create a custom outdoor kitchen

For even more kitchen renovation ideas, see LIDA Construction’s project gallery.

2. Bathroom Renovations Yield Big Returns

While an updated vanity or countertop is enough to attract potential buyers, updates like energy-efficient plumbing fixtures and lighting will also increase your bathroom’s functionality. According to the Appraisal Institute of Canada, bathroom remodels have similar returns on investment to kitchens at seventy-five to one hundred percent. 

Are you looking for some high-end refinishing projects?

  • Add a walk-in shower with dual showerheads
  • Install sliding glass tub surrounds
  • Integrate storage

Create a beautiful bathroom that invites you to take a moment for yourself.

3. Sunroom, Covered Porch or Patio —Extend Your Indoor/Outdoor Living Space

Increase your home’s liveable square footage with a deck or patio. Sell the dream by highlighting a view or creating the perfect outdoor retreat. Building an outdoor space will appeal to buyers looking for a lifestyle change. 

With up to 50% investment returns, decks, patios, water features, and pergolas are worth adding to your home renovation list. Not only do they increase the liveable square footage of your home, but they also enhance its overall value and desirability in the real estate market. With Vancouver Island’s temperate climate, why not extend your living space outdoors?

4. Finished Basements for the Win

In today’s real estate market, where living space and storage are at a premium, tapping into the potential of your basement can be a game-changer. Finishing your basement adds valuable square footage to your home and unlocks a world of possibilities for creating additional living space.

With an average return on investment of around 70%, basement renovations offer an excellent opportunity to maximize the value of your home. Whether you’re looking to accommodate a growing family, create a rental income opportunity, or provide a comfortable space for aging parents, adding a suite to your basement can be a strategic investment. 

5. Boost Your Home’s Value with a Garage Addition

Adding a garage to your home can significantly increase its value and appeal to potential buyers. Garages offer valuable storage space for vehicles, outdoor equipment, and other belongings, helping to declutter your home and enhance its functionality. Think about a workshop, workbench, or even a gym. A garage provides convenience and security, allowing homeowners to protect their vehicles from the elements and potential theft. Potential buyers often prioritize homes with garages, especially in areas with limited parking space or weather conditions that require vehicle protection.

6. Lift and Expand: Enhance Your Home’s Potential

Consider lifting your home to add an extra storey as a strategic renovation option. Building upwards instead of outwards allows you to expand your living space while preserving the size of your yard and maintaining outdoor areas for landscaping or recreational activities. Additionally, lifting your home provides an opportunity to repair or replace a damaged foundation, ensuring the structural integrity of the entire house. 

7. Increase Your Square Footage with an Extra Wing

Expanding your home by adding an extra wing with additional bedrooms can provide much-needed space for guests or growing family members and increase your ROI. Whether hosting visitors for short stays or welcoming new additions to the family, having extra bedrooms offers convenience and flexibility. Creating a dedicated guest wing or expanding your existing layout ensures everyone has a comfortable space to retreat to. 

8. Expand Your Property with a Carriage Home or Garden Suite

Adding a carriage home or garden suite to your property can be a game-changer, offering practical benefits and additional living space. If you want to accommodate extended family members, generate rental income, or create a private retreat, these secondary dwelling units provide versatile options to meet your needs. With their potential to enhance property value and provide flexible living arrangements, carriage homes and garden suites are becoming increasingly popular among homeowners seeking to maximize the potential of their properties. 

9. Pick Up Your Home and Move!

LIDA offers the unique capability to lift and relocate homes to new locations. So, if you find yourself:

  • Wanting to move to a new neighbourhood
  • Upgrade to a more considerable lot 
  • Change your home’s surroundings

Our home lifting and moving services can make the process seamless and stress-free. By leveraging advanced techniques and equipment, we can safely lift and transport your home to its new destination while minimizing disruption to the surrounding environment. 

LIDA Construction – Leading the Charge in Renovation Excellence

Renovations that increase home value are what we do at LIDA. Recognized for our superior craftsmanship, you can trust our homebuilders to exceed your expectations.

Located in Victoria, BC and serving the capital region to Nanaimo, LIDA Construction will complete your renovation on time and within budget. For examples of LIDA Construction’s past builds, view our recent projects

Are you looking for more design inspiration? Let our award-winning team of custom home builders advise you on the best upgrades to increase home value. 

Contact LIDA Construction, British Columbia’s builder of the year, for a complimentary consultation or more information.

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