The Best Renovations to Increase Your Home’s Value

5 November, 2021 Hi-Lite Electric Inc.

Renovating your home can freshen up your space and make your home look new. However, another reason to renovate is to boost your home’s curb appeal. With the right changes to your property, you could raise your asking price. Moreover, an updated look can increase your chances of selling your home faster. And, as the demand for housing continues to climb, now might be the right time to take on an extra project or two.

From smaller projects you could do over the weekend to larger renovations that may take longer, here are some of the best changes you can make to your home.

Renovations With the Best ROI

Over the past year, almost half of Canadian homeowners have opted to invest in home renovations. This surge has been attributed to the increase in time people have spent at home thanks to the global pandemic. If you’re wondering what type of renovation might pay off when it comes time to sell, here are some ideas.

Surge Protection

Adding house-wide surge protection gives you the safety and security you need from an unstable energy supply. The protection ensures that your television, microwave, or laptop won’t be damaged in the next electrical storm. This upgrade is an excellent investment for you and your family, and can be an attractive addition when you sell your home.

You may also want to include an update to your electrical panel. Over time, your panel can become worn or damaged. It may even become outdated. For example, if your home still depends on a fuse box, you’ll definitely want to switch to a circuit breaker.

If you’re not sure if either of these are necessary for you, then you can talk to a licensed electrician who will tell you if it’s time to update your panel.

Outlet and Light Switches

While it may sound like a small change, updating your light switches or outlets can make your home seem new again. Other changes that can go a long way to boosting your return on investment include adding USB outlets, extra outlets, and light dimmers.

Ceiling Fans

This renovation can add character and charm to your house, but is also a practical and environmentally friendly way to stay cool in the summer. Consider adding a ceiling fan to the light fixture in bedrooms, dining rooms, and living rooms. This is a simple change that your electrical company can do quickly, but it can make a big difference to your space.

Outdoor Lights

Brighten up and expand your living space by adding some lighting around your property. About 25 percent of Canadians renovating their home are making adjustments to their outdoor space. When it comes to extending your living area, adding pathway lights, landscape lights, or wiring for your deck are just some of the possibilities. With all the time that people are spending inside their homes, escaping to an outdoor retreat will be a big selling point. Outdoor lighting also has the additional benefit of providing extra security for your property.

Kitchen Lighting

You don’t need to make a big change to your kitchen space to make it seem like a whole new room. Consider adding some pendant lights for charm and to brighten it up. While this is not the only lighting that offers good ROI, it can be one of the most popular renovations to do. Adding new fixtures or ambient light can be a major improvement for your kitchen space.

Generators

Having a generator adds an element of security and safety to your property. If the rest of the neighbourhood loses power, you’ll still be able to keep the lights on! Depending on where you live, this additional source of power can be a big draw for home buyers. If you live in a climate that is prone to have snow storms or severe lightning storms, a generator is a must-have for your home. It can also be a great addition to rural properties.

Energy Efficiency

Protecting the environment is high on many people’s list, and they’ll be looking for homes with higher energy efficiency. Consider tackling projects like installing solar panels or connecting electric panel meters. As an added bonus, the Government of Canada offers grants to homeowners installing energy-efficient retrofits to their homes. According to the government, Canadian dwellings account for 18 percent of the country’s greenhouse gas emissions.

Smart Home Features

Adding some smart features to your home can be a wise investment. From lights to plugs to thermostats, smart homes can add extra value to your space. You can also improve the security of your property through the addition of doorbells linked to video cameras and your phone. As well, smart devices offer convenience and can be energy-efficient additions, which save you money.

Insulation

Adding insulation to your attic can be a renovation that adds significant value to your home. It is another one of the changes you can make that will save you money on energy costs, thus boosting its return on investment.

Front Door

The look and style of your front door set the character for your home. It is one of the first things that people will see when they visit. Updating your front door is an easy renovation that can add significant value to your home. Consider adding a steel door, which offers extra protection and security.

Updating the appearance of your home can help you feel more relaxed in your space. It can also boost the resale value of your property. Some of the best changes you can make include adding surge protection, installing outdoor lighting, or making your home more energy efficient.

For more information about renovating your home’s electrical system or if you want to speak with a licensed electrician in Toronto, call Hi-Lite Electric at 416-800-5523, or contact us here.