Calgary Business Blog

Does That Answer Your Question?

What types of home improvements yield the lowest R.O.I?

If you are considering a home renovation to increase the resale value, we recommend staying away from these misconcieved upgrades.

Home Office

Home offices may be a necessary investment for home-based businesses. It is incredibly important to have a functional working space where you can focus on your business in a comfortable environment. Don’t expect this to add value to your home, however, as you will again be appealing to a very small niche of prospective buyers. According to the Remodeling Cost Vs. Value Report, home offices recoup less than half of the project’s cost. When you renovate your home, your aim is to open the market to a wide variety of people who are all qualified to buy, giving you a higher chance of getting what you asked for and selling it in a reasonable amount of time. If you need to add a home office, it is strongly recommended to avoid permanent features, such as a wall of built in cabinets or a built-in desk. Make sure your office contains moveable furniture so the new homeowner can easily set-up or redesign the room as he/she pleases.

Sunroom

Sunrooms can seem like a great addition at first, and for some people they may even become a frequently used space. And if you are planning on staying in your home for many more years, it may just be an appropriate upgrade for you. However, if you’re specifically looking to increase the value, you’ll likely want to invest your dollars elsewhere. Homeowners won’t turn away from a home just because it has a sunroom, but they certainly will not be willing to pay extra for it. Sunrooms recoup a mere 51% of the project’s cost in added home value, making it an impractical option.

Kitchen Laundry Room

While having your laundry machines in the kitchen may seem trendy and convenient, quite often homeowners soon regret this decision. Not only doesn’t it look off, it’s also annoying listening to the machines run while eating dinner with the family or paying bills at the island. If you're thinking about adding your laundry room to the extra space in the kitchem, you may want to think twice. You'd do better off adding a breakfast nook or a built in desk.

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