We’ve all heard that kitchen and bathroom renovations sell a home but which is the better investment? It’s important to understand the factors that contribute to increasing the value of your home before you embark on any renovation. Even if you’re not planning to sell your home you want to spend your money in areas that will enhance your living environment as well as add value to your property.

After years of designing homes I understand exactly where to spend your money and which items can bring the most value to your space.

Which Room Offers the Best Return on Your Investment?

You may have heard the expression that kitchens and bathrooms sell a house. There’s no question that these are the two rooms that will increase the value of your home more than any other.

Before you embark on a construction project you need to get crystal clear on the intention behind this renovation. Are you renovating for yourself or is this for resale?

It’s not uncommon for homeowners to renovate for themselves with the intention to sell down the road. If that sale gets delayed by several years you may find that your material selections have become outdated. Take your time at the early stages of planning and really understand your reasons so you can maximize your investment. 

Kitchen Renovations - The Return on Investment

If you feel like everyone you know is renovating their kitchen, there’s a good reason for that. This is the room with the best return. A kitchen typically offers a return of 75-100%. 

The kitchen is the heart of the home. It’s not just a place to cook meals anymore. It’s become a gathering place for friends and family. If you like to entertain you may find that your parties and family get-togethers end up with everyone huddled in the kitchen together.

Aside from parties, families now use the kitchen for homework, crafts, games and paying bills. This room is often used more than any other room and that makes it high on the list of places that need to function well and look great at the same time. 

Not everyone is so interested in the kitchen. If you are young and urban you may find that you rarely cook and are not home often enough to entertain. In this case, there’s no real value in a kitchen renovation and your investment dollars can be better spent elsewhere.

Bathroom Renovations - The Return on Investment

The bathrooms in your home are a close 2nd place runner up to the kitchen in terms of investment. A typical return will be 60-70% making this another great place to spend money.

Since the bathroom is where we begin and end our days it’s important that this space functions well. We want our time here to enhance the start of our day and help us wind down and get ready for good sleep at the end of the day.

It’s important to note that mid-range bathroom renovations have a higher return on investment than high end renos. The quality and cost of materials for a high end bathroom renovation can make it hard to recover those costs. It’s also common for a high end bathroom reno to involve changes to the floor plan. This can also be hard to recover but if this renovation is for you and not for resale then it can be invaluable.

Where to Spend Your Money in Kitchen Renovations

Where you spend your investment dollars is incredibly important if you’re looking for a great return. These items will give you the best bang for your buck:

1/ Stone Counters - it’s probably no surprise that stone will give you an amazing return. Although there are a lot of lovely laminates on the market, the demand for stone is exceptional at the moment. The best investment for kitchens is granite, quartz, marble or porcelain. You also can’t go wrong with a wood countertop so if that aesthetic feels more aligned with your home you’ll see a good return here as well.

2/ Flooring - There are fewer options available in terms of flooring with hardwood and tile being the best go-to options. The selection will be immense for either option but a good neutral colour that works with the rest of the design will always give you a great return.

3/ Multi-Functional Kitchen Island - This is one of the areas in our homes that has changed the most over the last decade or two. Islands are the workhorse in our kitchen and function as the hub. 

It gives us additional surface area for prep and a space for a second sink. We also have an opportunity for additional seating and additional storage. And rather than having an extra beverage fridge in our garage we can now add a small beverage fridge into the island. It truly is the hardest working item in our kitchen.

Where to Spend Your Money in Bathroom Renovations

1/ Walk-In Shower - This is a must-have for anyone investing in their bathroom. The demand for a luxurious walk-in shower is high and it’s a great place to recover your investment dollars.

2/ Shower Head - Not surprisingly, after you’ve designed your beautiful walk-in shower you’ll need to finish off the experience with a great shower head. There are so many options available in terms of water flow and spray so do your research before you get started.

3/ Vanity - We don’t all have the space for a large vanity but regardless of the size you’ll want to optimize both the counter space and the storage space. Pay attention to the size of your sink in relation to the countertop. Your designer can help you create solutions to take advantage of every square inch and get the most out of your vanity.

What To Consider in Your Kitchen and Bathroom Renovation

1/ How Long Will You Live Here - Renovating to sell can be great if you know what to prioritize. You may not recover every dollar spent on a full renovation so look for ways to neutralize paint colours and fix anything that is broken or unsightly. 

2/ Selecting Finishes - Classic materials will stand the test of time but sometimes you fall in love with the latest trend and want to have some fun. If you are opting for a trendy material you’ll want to consider how long you can live with it. People tend to tire of a trend within 10 years so know that you’ll be investing in that same space again if you select trendy items. Consider leaving the trends for decor items and using classic, neutral finishes for your renovation.

3/ Cost of Finishes - If you’re renovating for yourself and know that you’ll stay in this home long term, you can opt for more expensive finishes. Alternatively, if this is a space that’s being renovated for resale, keep the cost of materials lower. You want to maximize every dollar spent so spend cautiously.

4/ Timeline - Bathrooms and kitchens are the most complicated spaces to renovate. There are a myriad of things that can go wrong. It’s never wise to undertake either of these renovations when there are timeline pressures involved. Leave these spaces for when you have the time and flexibility for the possibility of delays.

5/ Living Through a Renovation - Kitchen renovations take approximately 6-8 weeks and bathrooms are just slightly less than that. Living through either of these projects is stressful on the entire family. Before you embark on this type of project, consider how your family will function, particularly if you’ll be living in the space throughout the process.

What To Avoid When Renovating a Kitchen or Bathroom

1/ No Space Plan - The functionality of these spaces is of major importance. The way you live and move in these spaces depends on a great layout. Spend time working with your designer to get this right. Your future self will thank you for the investment of time and energy. 

2/ Starting Without a Budget - Both of these rooms can be completed on a spectrum of moderate to extremely high cost. Without a budget it’s easy to overspend and no way to prioritize materials throughout the project. 

3/ Choosing Style Over Functionality - Marble counters look great but are they practical for your family? Materials that don’t perform well will lead to daily frustration, regardless of how great they look.

PRO TIP - Don’t demolish your cabinetry from your old kitchen or bathroom. Almost all of my renovation clients have been able to sell their cabinetry. There’s a big demand for used cabinets that will be repurposed in a garage, workshop or a cabin. This is also an easy way to make some additional renovation money.

What Does it Cost in Cranbrook to Renovate?

You can renovate a kitchen in a typical Cranbrook home for $50,000-$80,000. If you want to learn more, I have written an information packed post highlighting everything you need to know to prepare for a kitchen remodel. See the post here.

A bathroom renovation will cost between $15,000-$30,000. You can learn all about the details in this blog post. 

I hope all of this information has helped you better understand how valuable a kitchen and bathroom renovation can be. There’s a lot of work involved but the return on investment can be immense.

If you need help with a renovation, reach out to me and book a complementary 15-minute consultation.

Warm regards,

Adrienne