3 Top Home Renovations for ROI in Calgary
August 12, 2024 - Michelle Murphy
Thinking about selling your Calgary home? Smart move to plan ahead! The right renovations can boost your home’s value and make it more attractive when it’s time to sell.
Calgary’s housing market is unique and sometimes… unpredictable. That means the renovation choices you make now have to be informed so your curb appeal withstands our fluctuating boom-and-bust cycles.
Let’s look at the top renovations for ROI in Calgary to give you the best bang for your buck when you’re ready to sell.
Want to get your out-of-province summer home ready for resale? Take advantage of MMID’s eDesign services!
#1 Top Home Renovation for ROI: Flooring Upgrades
If you want to maximize your home’s resale value, few renovations can match the ROI of updated flooring. In fact, flooring replacements typically recoup over 100% of their cost when you sell your home.
“In my experience, changing from an outdated look or worn-out floor is usually over 100% ROI.” - Michelle Murphy
Floors get a ton of wear and tear, especially in Calgary’s climate. Worn, damaged, or outdated flooring can make an otherwise nice home feel tired and neglected. But swap it out for fresh, high-quality materials, and you instantly makeover the entire look and feel. We’ve seen that the most popular flooring options for Calgary homes tend to be hardwood, luxury vinyl plank (LVP), and tile. These durable, low-maintenance materials hold up well against our harsh winters and busy families.
Of course, your specific flooring needs and costs will depend on the size of your home and the materials you choose. But even a modest flooring upgrade can make a big difference in how your home is perceived by potential buyers.
#2 Top Home Renovation for ROI: Interior Paint
A fresh coat of paint can completely transform the overall vibe and aesthetic of your living spaces—and for relatively low cost.
The key is choosing the right colours. Neutral, on-trend palettes tend to have the broadest appeal for Calgary buyers. Think light, airy tones that make rooms feel open and inviting. If you’re planning to sell right away, avoid anything too dark, bold, or personalized—you want buyers to be able to envision their own style in the home.
The exact numbers will depend on the size of your home and the scope of your painting project, but even smaller touch-ups in key rooms can make a big difference. Plus, with a potential ROI of 60%, a fresh coat of paint is a home renovation worth investing in!
Live in an apartment? You can still paint! Check out our feature in Redfin’s article that MMID collaborated on How to Choose Paint Colors for an Apartment.
#3 Top Home Renovation for ROI: Kitchen Renovations
With a whopping 75-100% ROI, this list would not be complete without the mention of kitchen upgrades. As the centre and often gathering place of the home, a well-designed and functional kitchen can be a major selling point for potential buyers.
_“It’s the heart of the home and whether it’s for yourself or for you to sell, people will pay for a new kitchen when it’s done well.” - Michelle Murphy _
But what exactly should you focus on in your kitchen renovation? A few key areas tend to provide the best value:
- Cabinets: Refacing or refinishing your cabinets can give your kitchen an instant facelift. Opt for neutral colours and clean lines to appeal to a wide range of buyers.
- Countertops: One of the highest ROI kitchen upgrades. Quartz and porcelain remain popular choices in our city for their durability, low maintenance, and an upscale look.
- Appliances: Energy-efficient models save on utility bills and appeal to sustainability-minded Calgary buyers.
Don’t know when (or how) to plan your reno? This guide gives you everything you need to get started.
Better Your Buy with Renos for Max ROI!
If you’re getting your Calgary home ready to sell now or down the road, making smart renovation choices matters. Even if you’re not thinking of resale right now, these top home renovations for ROI will make your space more comfortable for you and your family.
The bottom line? Strategic renovations are important if you want to maximize your home’s resale potential in Calgary. By focusing on the upgrades that provide the greatest ROI, you can position your property for a successful sale when the time is right.
Are you renovating your home for resale? We’re here to help! Contact MMID today.