Renovating can increase your home’s value significantly—or slightly—depending on the type of renovation, the current state of your home, and how much time and money you invest in it.

Not all renovation projects are the same, and knowing what to do and what not to do is the best way to ensure that any changes you make will come back to you when you sell and be up to code with local regulations.

Prioritize Accordingly

Before you start any renovation, you should ask yourself what needs to be updated versus what you want to update. For example, if you live in an older home with outdated electrical or plumbing, bringing your kitchen into the modern era probably isn’t the best way place to start.

However, if your house is relatively new and there’s no issue with any less-fun renovations, you should choose the areas you use most, such as the kitchen or bathroom. These high-traffic areas offer a significant return on investment.  

Think Long-Term

That trendy new renovation you see all over Pinterest might look beautiful now, but it could become outdated in a few years. Instead of following trends, consider timeless, long-term changes that will stand the test of time.

You should also consider renovations that will last longer, such as a roof. Once you install a new roof, you’ll get ten to fifteen good years of use out of it, so if you sell in that time, buyers will love that they don’t have to spend the money to do it themselves for a long time.

It’s all about investing in something that will last, whether that be design or structural upgrades.

Know Your Local Regulations

Knowing your local regulations is the most critical aspect of renovating in Ottawa. While all other factors regarding return on investment are crucial, they won’t mean anything if they’re not done legally.

For example, if you plan on making any structural changes, like adding or removing walls, windows, or doors, converting a basement into a living area, or doing an addition to your current home, you’ll need a permit. You’ll also need a permit if you plan to do major upgrades on plumbing or electrical, change or alter the foundation, or even demolish a part of your property.

Other renovations you’d need a permit for include:

·  Decks larger than 108 square feet

·  Detached garages and pre-fabricated tiny homes larger than 108 square feet

·  Creating or widening a new driveway or getting rid of an existing driveway

·  Adding a rental unit or coach house within your property

Consider Cost

Renovations take time and cost money, and there’s no getting around that. To ensure you get the most out of your renovation, you’ll have to ask yourself how much you’re willing to put into the project and how much time you’re willing to sacrifice to get it done right.

When considering cost, it’s vital to check the return on investment before putting too much money into a renovation so you won’t be disappointed. For example, adding a pool may seem like a huge bonus, but in reality, it can be as low as 5%.

Renovations can make your home more sellable when you’re ready to move, but they can also make the property more livable while you’re still there. 

Before taking on any significant renovation project, it’s essential to assess what needs to be done, what’s important to you, and how much effort and money will be required to get your home to where you want it to be.