As a contractor and real estate expert, I am often asked by homeowners for advice on the best projects for their remodeling dollars. While it's important to first consider the purpose of the remodel (is it for yourself, for resale or as part of an incomegenerating suite?), there are some remodels that have proven to be reliable investments over time. Some of these include:
Kitchens and bathrooms. Remodels here top the list. High-end finishes, like marble and quartz countertops and stainless steel or commercial grade appliances, are greatly coveted. Clever storage is desirable, along with home automation - a new and growing trend.
Bathrooms. This one is simple. The hottest bathrooms right now aim to replicate a spa-like experience. From colour and accessories to scents and lighting, transforming this room into a relaxation haven will maximize its appeal.
Insulation. Installing, topping up or replacing insulation is one of the most cost-effective ways to increase energy efficiency and save money over the life of your home.
Smaller fixes. Know that you don't have to spend a lot of money to realize a good return. Can't afford a full-out kitchen or bathroom remodel? Consider painting walls and cabinets, replacing outdated hardware or fixtures and installing new lighting for an impactful refresh. When it comes to living spaces, it's amazing what a splash of colour, some new flooring, carefully selected accessories and strategic lighting can do for the look and feel of a room.
Scott McGillivray is the award-winning TV host of the hit series "Income Property" on DIY Network, a full-time real estate investor, contractor, author and educator.
