Skip to main content

How to Start Renovating Your Home in 2023

people painting house

If you decide to redo your basement, bathroom, or your whole house, get ready for an adventure. At the start, when you’re just planning everything, it’s really exciting. You can’t wait to see the changes. And when everything is done, you feel great and happy with what you’ve achieved. You’ve made your home better and increased its value.

But, there’s a hard part in the middle of all this – when things are being taken apart and rebuilt. You need to be really careful and think about everything from the very start. Success means doing your homework, asking the right questions, and finding the best people to do the job. This article is here to help you start planning your home makeover.

Before you start, ask yourself: is this worth the time and money? If you’re fixing up your house before you move, and you live far away, it might be a good idea to get a key lockbox. Big projects usually mean you need a contractor, and they like to start early in the day. Unless you want to drive in the early morning traffic just to let them in, a lockbox or a smart door lock can save you a lot of time and hassle. Plus, you won’t have to wake up so early!

people painting house

Start by Researching and Creating a Game Plan

Embarking on a home renovation journey requires a strong understanding of the process, especially if you’re a newbie. Engage in conversations with friends and family who have gone through it, and soak up their experiences. Dive into research on best practices and strategies for a smooth renovation. While a contractor will be a valuable guide, having a solid understanding beforehand puts you at an advantage.

Now, if you decide to go forward with the renovation, dedicate time to thorough research. Investigate the overall cost, the timeline from start to finish, and potential unexpected challenges. In order to make decisions that align with your goals and set you on the right path, you need careful planning and thoughtful consideration. Don’t hesitate to consult with a variety of experts to get diverse feedback and information, ensuring your decisions are well-informed.

Additionally, your research might reveal whether now is the right time to renovate, or if waiting might be a smarter choice. You might need a few more months to get your finances ready, or you might find that the costs are higher than your budget allows, or that the timeline conflicts with other commitments like sports seasons or school.

Set a Budget and Prepare for Hidden Costs

As you delve deeper into your research, one crucial step is estimating your renovation costs. While online searches can provide a ballpark figure, be aware that costs can vary widely, and Google might not have all the answers. To get a clearer picture of your project’s costs, reach out to local contractors for estimates. Gathering three to five estimates will give you a solid base for your budget.

Contacting contractors isn’t just about getting a bid; it’s also about uncovering potential hidden costs, also known as ‘slippage.’ You might find plumbing issues during a kitchen remodel, or realize you need new trim when replacing windows.

To be on the safe side, add an extra 15 to 30% to your initial quote to cover these unexpected costs. If you end up not needing it, great! But if you do, you’ll be ready and won’t have to make rushed decisions that you might regret later.

If all of this pushes you over budget, it might be smart to wait until you’re in a better financial position to start your renovation. This way, you can achieve what you want without compromising or feeling stretched too thin.

house contractor looking at the project

Choose the Right Contractor for Your Project

Emphasizing the importance of selecting a qualified contractor is crucial when transforming your renovation dreams into reality. Homeowners often realize this after spending ample time envisioning the potential outcomes of their project.

If you’re brimming with ideas, the right contractor can turn them into reality, potentially introducing new perspectives and options you hadn’t considered. Start by reading reviews and client feedback to assess their reputation and quality of work. Then, set up a meeting to dive deep into your project specifics and pose any questions you might have. Aim to hire a collaborative partner, skilled in crafting creative solutions that respect both your vision and budget.

An outstanding contractor brings more to the table than mere execution of tasks. They can also suggest structural improvements, enhancing both the energy efficiency and overall functionality of your home.

For a smooth remodeling experience, choose a contractor who values transparency, respects your time, arrives punctually, cares for your property, and consistently delivers impressive results. With their extensive experience, they become a crucial asset, offering valuable advice for any home issues that might arise during the renovation.

To determine if a contractor fits your project needs, consider asking them these crucial questions:

  1. What licensing and insurance do you hold? (They should be both bonded and insured.)
  2. Do you work with project managers? (This can improve efficiency and organization.)
  3. How often will you update me on the project’s progress? (Regular communication is essential.)
  4. Can you explain your billing process? (Understanding payment terms is crucial.)
  5. How do you keep track of billing? (Clear records ensure transparency.)
  6. When can you start working? (Ensuring start dates align with your schedule is vital.)
  7. Can you provide an estimated timeline and your availability for this project? (Knowing the project’s duration is important.)
  8. Are you willing to seek bids from multiple subcontractors to ensure competitive pricing? (This strategy can save money.)
  9. What is your policy if issues arise with the completed project after a year? (A warranty or follow-up process provides security.)
house renovation

Sign a Contract for Assurance

A detailed contract is vital for a seamless renovation, providing both assurance and clarity for various situations. Ensure it includes crucial information such as your name, address, expected start dates, warranty terms, a comprehensive scope of work, and payment details. Be cautious with generic contracts that require no customization, as they might lead to issues down the line. Always thoroughly review the entire contract, seeking clarification on any unclear terms. A well-structured contract protects both contractors and homeowners, ensuring everyone has a clear understanding of the project’s expectations and boundaries.

Get Ready for the Renovation to Kick Off

Signing the contract signals the start of your preparation phase, gearing up both your home and mental state for the renovation adventure ahead. Embarking on a home renovation is a formidable task; it encompasses considerations from budgeting to timeline planning, and it’s easy to feel overwhelmed, especially given the considerable costs tied to such a project. However, preparing thoroughly and grasping the project’s ins and outs equips you to confidently address any unexpected challenges that may crop up during the renovation.

Learn and Grow from Past Home Renovation Mistakes

Adopting a proactive stance by learning from common home renovation blunders paves the way for a smoother, more successful project. Here’s how to sidestep these pitfalls:

  1. Set a Comprehensive Budget: Ensure your budget not only covers expected costs but also includes a 20-25% buffer for unexpected expenses or changes.
  2. Communicate Effectively: Never shy away from asking questions or seeking clarification, especially regarding design decisions. Clear communication with your contractors and designers is pivotal for attaining your desired results.
  3. Know Your DIY Limits: While DIY projects can be rewarding, it’s crucial to recognize your limits. Engage professionals for complex or specialized tasks to guarantee top-notch results.
  4. Choose Quality over Price: Opting for the cheapest labor might seem cost-effective but can lead to inferior results, potentially incurring higher costs in the long run. Prioritize contractors with a reputation for quality.
  5. Be Prepared for Delays and Stress: Anticipate that the renovation might extend beyond your initial timeline. Understand that living amidst a renovation can be stressful, and plan accordingly to mitigate disruption.
  6. Be Smart with Furniture Choices: When selecting furniture, ensure it fits comfortably in your space, considering both dimensions and layout, without obstructing access or overwhelming the room.

Explore Different Types of Home Renovations

Home renovations come in various forms, each serving unique needs and preferences:

  1. Whole Property Renovation: This entails a thorough revamp of your entire home, possibly involving structural changes, remodeling, and upgrades.
  2. Single-Storey Extension: This adds more ground-floor living space, often expanding kitchens or living areas.
  3. Multi-Storey Extension: This is like a single-storey extension but adds additional floors of living space.
  4. Conservatory Build: This creates a glass or partially enclosed space, usually serving as a sunroom or additional living area connected to the outdoors.
  5. Loft Conversion: This transforms attic or loft spaces into functional living areas, such as bedrooms or offices.
  6. Kitchen Remodeling: This updates and redesigns your kitchen for improved functionality and aesthetics.
  7. Bathroom Remodeling: This modernizes bathrooms, enhancing both comfort and style.
  8. Basement Conversion: This turns an unfinished basement into a functional space, like a home theatre or guest suite.
  9. Garage Conversion: This repurposes a garage into additional living space.
  10. Garden Landscaping: This enhances outdoor areas through landscaping and design, creating functional, beautiful spaces.

Understand the Timeline for Home Renovations

The duration of a house renovation can vary significantly, influenced by factors such as project scope and unforeseen complications. However, here’s a rough guide to some common renovation timelines:

  • Kitchen Renovation: 4-10 weeks
  • Bathroom Renovation: 3-6 weeks
  • Loft Conversion: 7-12 weeks
  • 1-2 Storey Extension: 8-16 weeks

These are general estimates, and it’s crucial to consult with your contractor to determine a more accurate timeline tailored to your specific project.

Get Clear on Renovation Costs

The total cost of renovating a house can fluctuate widely, influenced by factors like project scope, contractor choice, architect involvement, necessary permits, and unexpected challenges. Here’s a rough cost breakdown for common renovations:

  • Extension: £25,000 to £50,000
  • Loft Conversion: Around £40,000
  • Bathroom Renovation: £6,000 to £10,000
  • Kitchen Renovation: £7,000 to £15,000
  • New Windows: £400 to £600 per window
  • New Heating System: Around £4,000

How to Plan a Budget-Friendly Home Renovation

Successfully planning a home renovation on a budget requires strategic thinking and smart choices. Follow these guidelines to keep your renovation within financial limits while achieving your objectives:

  1. Establish Realistic Goals: Start by setting achievable objectives based on your budget, prioritizing essential tasks or those that add the most value.
  2. Get Multiple Quotes: Don’t settle for the first quote you receive. Seek bids from various contractors, considering their reputation and the value they provide.
  3. Consider a Designer: Investing in a designer can pay off, as they can suggest cost-effective solutions and help prevent expensive mistakes.
  4. Invest in a Property Survey: A professional survey can uncover potential structural issues, helping you allocate your budget more effectively.
  5. Enhance Your DIY Skills: Tackling some tasks yourself can cut labor costs. Utilize online resources to learn basic home improvement skills.
  6. Phase Your Project: If you don’t have a lot of money, break your renovation into parts. Fix the most important things or the rooms you use all the time first. Save up for the smaller projects later. This way, you keep moving forward without spending too much at once.
  7. Reuse What You Can: Don’t buy everything new. See if you can use old things in new ways. Old furniture or wood can add a cool touch to your space and save you money. Plus, it’s good for the planet.
  8. Shop Smart: Look for deals when you need to buy new stuff. Check out sales and clearance items. Second-hand things can also be great, and you might be able to fix them up to look like new.
  9. Save for Surprises: Things you weren’t expecting will probably come up. So, put some money aside (around 10-20% of your budget) just in case. This is your emergency fund.
  10. Check Your Budget Often: Keep an eye on what you’re spending and make sure it matches your budget. Adjust things if you need to. This helps you stay on track and avoids any nasty surprises with money.
kitchen renovation

Optimize Your Rental Property Through Strategic Renovations

Transform and enhance your rental property’s appeal and functionality with strategic renovations. This makeover not only attracts new tenants but also encourages current ones to stay longer, significantly boosting your property’s value.

Be Smart with Your Renovation Investments However, renovations can be expensive, so it’s crucial to ensure that every penny spent is a wise investment, particularly in rental properties. Understand what your tenants desire to ensure that your renovations align with their needs and preferences, just like you would consider your family’s needs when redecorating your living room. Strive to understand your tenants’ preferences, investing in upgrades that add real value and appeal to your property.

Transform with a Fresh Coat of Paint Repainting is an affordable and effective renovation option. Refresh your space each time a tenant moves out to maintain its allure. Stick to neutral colors for universal appeal, and hire professionals for a flawless finish. This budget-friendly option significantly enhances the visual appeal of your rental spaces.

Boost Curb Appeal Without Breaking the Bank Enhance your property’s curb appeal with simple, cost-effective maintenance and attention to detail. Add vibrant flowers, maintain your fence, and create inviting outdoor spaces. These enhancements create a welcoming atmosphere without requiring a substantial investment.

Upgrade Appliances Wisely Incorporate modern appliances to attract tenants and increase your property’s rental value. Plan your budget carefully and seek expert advice to ensure you choose reliable brands and avoid financial setbacks.

Modernize Your Kitchen With more people cooking at home, a well-equipped kitchen has become a top priority for renters. Invest in modern amenities, ensuring your kitchen meets the current market demand. A thorough cleaning can rejuvenate appliances in good condition, making your kitchen a major selling point.

Refresh Your Furnished Apartment’s Furniture In the furnished apartment market, furniture condition is crucial. Upgrade worn-out pieces or refurbish existing ones to maintain an appealing and well-maintained space.

Embrace Contemporary Design Incorporate modern design elements to align with contemporary tenant preferences. Think spacious rooms, large windows, open kitchens, and luxurious bathroom features to create an attractive and comfortable living space.

Revitalize Your Bathroom Transform your bathroom into a standout feature of your rental property. Upgrade tiles, add smart storage solutions, and replace outdated fixtures to create a modern and inviting space.

Elevate Your Property Management with Keey Partner with Keey for expert rental property management. Our dedicated team ensures every aspect of your property is well-maintained, providing peace of mind, exceptional returns, and a standout rental experience. Choose Keey for a partnership that adds value and excellence to your rental property management.

How Lighting Can Make Your Airbnb Better

As an Airbnb host, you shouldn’t underestimate the power of good lighting and how it can transform a space. It’s also a great method of enhancing the overall appearance of your Airbnb without making any permanent changes!   

Whether your lighting setup is in dire need of an update or not, these simple tips will help you to improve the style and appearance of your rental property. 

person looking at a lamp
Expertly placed lighting adds another dimension to a space! 

Best Suited Lighting for Certain Rooms 

Great lighting can create an atmosphere and set the mood of a room. The key to effective lighting is understanding each room and installing the appropriate lighting to optimise the space. Each space requires a different style and amount of light, so it’s important to know which lighting style should be used for each room.

Read now: How to Choose an Interior Designer for Your Airbnb 

Functional Lighting  

An often-overlooked aspect of lighting a property is ensuring adequate light for functional areas, for example, kitchen islands and bathrooms. Adding spotlights to these areas will keep them well-lit for when it’s important to be able to see clearly.  

Reflective Surfaces 

A great way of enhancing your existing lighting setup is by introducing reflective elements to each room. For example, in smaller rooms, you could paint the walls white to reflect the natural light that comes in or introduce mirrors around your rental to give the sense of more space.  

Lighting the Corners 

Another important element of good lighting is ambient lighting. You don’t want all the corners of your Airbnb to be dark as this isn’t good for the atmosphere. Try adding standing lamps or wall lighting to improve the overall feel of the space.  

Natural Light

Natural light is key to making your rental feel spacious and fresh. Make sure you have windows in every room, particularly in lounge areas that are more communal. This will create an inviting space for your guests, and will help them to feel relaxed.

Read now: Taking Your Own Airbnb Photos On A Budget 

natural lighting
Without sufficient lighting, the space of a room will feel small and cramped. 

Things to Consider with Certain Light Fixtures

  • Bedside Table Lamps: Remember to measure where the base of the shade meets eye level when you are sitting or lying on the bed. This will help you choose the right height of lamp that won’t shine directly into your guest’s eyes when they’re relaxing.  
  • Reading Lamps: Think about how dark of a space your reading area is and how bright the lamp will need to be to illuminate it. Light shades can diffuse light and affect the brilliance of the bulb.  
  • Side Table Lamps: Lights arranged on a side table in the living room are usually brighter than the ones you’d place in the bedroom. 
  • Desk Lamps: Work area lights are very important as appropriate lighting in workspaces can affect your efficiency. Place lights in the best spot to eliminate shadows and choose lights that are manoeuvrable, so your guests can move the light if they need to. 
  • Dim Lights: Don’t forget to install dimmers on overhead lights, as these allow guests to create their atmosphere in a room. A bonus to dimmer switches is they also help you save on energy consumption. 

Read now: 8 Plants Your Airbnb Guests Will Love 


There’s no better way to welcome your guests but with appealing, contemporary and modern lighting. Well-picked lighting can brighten a whole room and have a positive impact on the mood of your guests. 

For further advice on how to decorate your Airbnb, contact our experts at Keey today! 

How to Choose an Interior Designer for Your Airbnb

Choosing an interior designer is a very important decision for your rental space. After all, how an Airbnb is furnished can greatly impact your bookings. Interior design projects can be expensive, so you’ll want to make sure you get the very best for your budget.  

So how do you choose an interior designer? Below are ten things to consider before making your decision.  

  1. Your Style 

Although not a necessity, it can be helpful to have a similar sense of style to the designer you choose. This way the whole process will be more streamlined as your designer will have experience in the materials you’re wanting to introduce to your rental. 

However, a good interior designer will be able to adapt to the style and brief you give them. 

2. Your Budget 

Every project has a budget and having an interior designer can help you get the best results for your money. Below are three ranges of budgets: 

  • A minimal budget: Your money is tight so you’ll require creative cost saving from your designer, like upcycling, or revamping your existing furniture. 
  • A decent budget: You have a reasonable budget for your project that’ll allow you to balance quality and cost. You’ll need advice from your designer on where to spend and where to save. 
  • A generous budget: You want the best interior design money can buy with all elements completed to a very high standard. You’ll need a designer you can trust to make the best choices.  

Knowing your budget before looking for a designer can be helpful for your search. For the best results for your rental you’ll want to choose a designer who has experience working with budgets like yours. 

3. The Scale of the Project 

Another important element to consider is the scale of your project. Are you looking to renovate a single room or a whole house? 

The larger the project the wiser it is to choose an interior designer who is experienced in tackling large scale projects. 

Read Now: Airbnb Interior Design Advice: How to Create a Cohesive Space 

4. How Involved in the Process Do You Want to Be? 

Before pairing with an interior designer, consider how involved you would like to be with the project so you can communicate this with your designer. 

Do you want to be making furniture and colour choices or do you want to fully leave the project in the hands of your designer? 

A hands-on client would be wise to choose a more laid-back designer who is okay with their decisions being overruled, so make sure to communicate how you’d like to approach your particular project with your designer. 

5. Reviews and Recommendations 

Before you make your final decision on your designer make sure to ask for feedback from their previous clients. 

This is very common practice in the design world and any good designer will be happy to provide you with references.  

Read Now: Interior Design in 2022: The Best Style for Your Airbnb 

6. Interior Designer or Architect? 

A very common question is whether you need an interior designer or an architect – sometimes this can be a bit of a grey area. 

A general rule of thumb for which one you need is: 

  • Architect: whenever the work required concerns the external structure of the building, like the walls or the roof. 
  • Interior designer: whenever the work includes the design and specification of interior finishes and furniture. 

Anything in between such as internal alterations can really be done by either. If the work needed is just moving a few non-structural walls, an interior designer can work with you. 

However, if the building requires large scale internal alterations it would be better to work with an architect. 

7. Use a Contract 

Having a contract with your interior designer is very important so you both have a clear outline of what to expect from each other for the duration of the project. 

Your designer should have one they use with all of their clients and sometimes this can simply be an outlining letter which includes their fee. 

8. Do You Need a Local Designer? 

For most projects you want to look for a designer based within the 20-mile range of your rental. But this is very much based on the scale of your project.   

For large and long-term project where your designer will need to visit the site regularly it makes sense to choose a local designer. 

However, depending on the project some interior designers can work remotely. If you simply want a few drawings as guidance for a room and nothing more, a remote designer could be perfect for you. 

9. What’s the Time-Frame for Your Project? 

When selecting an interior designer be clear with your expectations for the project being completed. 

The deadline for when you need your rental fully furnished might not match up with your chosen designer’s availability, so make sure to be communicative about the urgency of your project from the start. 

Read Now: 3 Reasons Every Landlord Should Use an Interior Designer 

10. Do You Get On? 

An often-overlooked aspect of choosing an interior designer is whether or not you get on with them. No matter how much you like their design style, if you can’t establish a good working relationship with your designer it’ll make the whole process harder than necessary. 

For more interior design advice for your Airbnb, contact our experts at Keey today! 

How To Boost the Value of Your Property in 2022

When listing your property for rental, you should always consider increasing its value before putting it on the market. 

Financial value might be the first thing we think of when we talk about value, but when it comes to renting, aesthetic value can have a huge impact on returns.  

A property can justify high rent prices with its function and size, but if it looks dull, or even oppressive, it’ll be hard to attract enough interested renters to provide you with regular income. 

Read on for some key checks to make on functionality and top tips to get your property looking stylish and welcoming in 2022. 

Read Now: Renting Out Your Home on Airbnb: The Pros and Cons 

Make Utility Repairs 

Before thinking about updating the look of your property, the first thing to address is your plumbing and electric. 


Ensuring that your water pipes are in the best condition they can be ensures that there won’t be any problems with water flow, such as blockages, or noises from the pipes. 

Neglecting your plumbing is one of the worst things you can do for your property’s value.  

Avoiding burst pipes and damp appearing on ceilings is key. Make sure to reseal the areas around the showers and baths in your property regularly.  


Your property’s electricity may be functional, but you’ll want to ensure that your wiring is efficient, practical and safe as possible.  

For example, if you’ve got one light switch that controls two sets of lights in a room, you could adjust this for a higher-quality renting experience. 

Checkatrade, a contractor listings company, estimates that repairs can add 3-5% to your property’s value, and note that working to rectify imperfections will make your property more appealing to renters. 

Taking these pre-emptive measures early can save you money on short-term property improvements while increasing the value and appeal of your property. 

Read Now: How to Carry Out a Thorough Rental Property Inspection 

Give Your Interior an Appealing Redesign 

If you get creative, redecorating indoors can be one of the cheapest ways to increase a property’s value. Aim for design choices that are eye-catching, yet have broad appeal. 

If your property is coated in off-white or beige paint, or simply hasn’t been decorated in many years, you may want to consider repainting it using brighter, more aesthetically pleasing colours. 

The best redecoration has mass aesthetic appeal, as you’ll likely draw in more potential renters in addition to being able to charge more on your property’s listing. 

Read Now: 3 Reasons Every Landlord Should Use an Interior Designer  

Painting your property’s interior can freshen it up, erasing years of wear and tear and adding value. 

Re-carpeting or installing wooden flooring can have a similar effect. In fact, Evolution Money, a loan company, suggest that by investing around £365 on your flooring, your property’s value can rise by 2%. 

Consider Remodelling a Room or Two 

Interior rooms that undergo lots of use like bathrooms and kitchens are those which show the worst signs of aging and wear.  

Remodelling these rooms will be expensive and time-consuming, especially if you’ve taken the time to pore over every element and hired a contractor. 

However, if you have the time and budget, remodelling your kitchen alone can raise the value of your property by 4.6%. Remodelling the bathroom can raise it by 2.9%. 

In the kitchen, consider replacing cupboards, shelves and doors. Countertops are an option, but you might need to pay a contractor to perform this work. 

In the bathroom, you can replace taps and sinks. 

Read Now: The Best and Worst Property Maintenance Projects for Your Rental Value 

Consider Remodelling Your Exterior 

Applying some TLC to the exterior of your property can give it new aesthetic ‘curb’ appeal, great for a first impression. This is hugely important when the first photos renters see of your property will likely be of the outside. 

The most extreme measures you can take here are: 

  • Repainting the exterior altogether 
  • Retiling the roof 
  • Installing solar panels 
  • Double-glazing windows. 

If you have a garden, adding a tile patio, gazebo, or garden office can modernise or add interest to an otherwise bog-standard lawn. 

If you’d prefer not to increase the scope of your property improvement project to this level, there are smaller changes that you can make that can still increase the value of your property. 

Outside, you can repaint your front door, add or replace a knocker, or replace the handle. You might also consider an entirely new door to make the best possible first impression. 

Whatever you decide to do, Checkatrade have a useful breakdown of the prices you can expect to pay when contracting the work out in 2022. 

Read Now: 5 Low Maintenance Landscaping Ideas to Complete Your Property 


If your budget is large enough, one of the most drastic steps you can take to increase the value of your property is to install an extension. 

Extensions typically involve having a whole other room, and sometimes even more, affixed to the property.  

Flying Homes, a real-estate hub, found that 4-bedroom properties listed on Zoopla, a real-estate listing site, cost on average £85,000 more than 3-bedroom properties. 

Extensions are a costly undertaking, and it’s worth conducting your own research to compare the amount of money you’ll need to put into the project versus the valuation of your property afterward.  

As a landlord, you’ll also need to factor in how long it will take to recoup your costs from renters. The upshot is, of course, that you should be able to charge more for rent, and recoup costs quicker. 

If you already have an extension on your property, consider if there’s anything about it that feels ‘off’ when compared to the rest of it, and be ready to invest in solutions to make the whole house feel like one building. 

In Summary 

Maintaining your utilities, remodelling your most used rooms, and updating key features are the best ways to increase the financial and aesthetic values of your property. 

The good news is that you can tailor the extent to which you improve your property based on your resources. If on a budget, prioritise: consider replacing that scratched floor or stained carpet.  

Putting time and energy into updating your rental property ensures that your renters come away with the best impression and reviews to give of their stay. 

Related Articles

Keey can provide the best advice for improvements on single rental properties or an entire portfolio. Contact us today 

The Best and Worst Home Maintenance Projects

Any landlord has to consider a few vital things when they start letting out their property. What renovations can they do to their property to make it look better? Which home improvements will lead to the biggest return on investment? And how can I avoid investing money in pricey projects that won’t give me a return on your investment? To help you answer these questions, we’ve highlighted a list of the best and worst home renovations you could do to your property.  

The Best Renovations:

  1. Kitchen Remodelling 

Renovating a kitchen tends to involve a lot of usability upgrades, which buyers love. This is commonly considered the single best project to increase rental value, and further well-thought-out remodelling projects will add to the overall value of your property. 

  1. New Fireplace 

Installing a new fireplace can quickly increase the rental value of your property, particularly if it’s an upgrade from an older, less efficient wood stove to a gas or electric stove. Even renovations for appearance and safety can make a big difference in colder climates where fireplaces see a lot of use. 

  1. New Front Door 

One of the newest trends for updating the look of your rental property is to install a new door, as this simple feature can increase the value of a property! Prospective tenants often find a new door is immediately apparent, adding to curb appeal while also allowing you to improve security through smart device features. 

  1. Bedroom Conversion 

Converting an area of the house, especially an attic or basement, into another bedroom can greatly increase the value of a property. This is because it adds more square footage, creates a new universally usable room and opens the house up to buyers with larger families, expanding your list of potential tenants tenfold. 

  1. Attic Insulation 

An attic insulated with fiberglass can recoup its cost in no time at all! This renovation means you are technically gaining rental value at no expense when adding important attic insulation. Make sure all gaps are covered and cracks are sealed against pests and weather damage. 

  1. New Garage Door 

When renting out a house, your front-facing garage doors can impact curb appeal more than most home components, leading to a significant return on investment. Upgrade to a better garage door with windows and smart control features to really impress potential buyers and add additional security to the property. 

  1. Stone Veneers 

As noted in a few of the suggestions above, maintaining the outside aesthetic of your rental property is paramount to attracting clients. A veneer of stone to your sidings or stone-like wall patterns to various walls inside and outside your house can drastically change the appearance of your home at relatively little cost.

The Worst Renovations:

  1. Backup Generator 

A generator may be useful as a safeguard against power outages but it doesn’t add a lot of everyday rental value to a property, nor attract new clients. Exceptions occur in rural or off-grid homes where generators see a lot of use in bad weather, otherwise it would be best to steer clear of this project. 

  1. Backyard Patio 

The patio is a great DIY project, but it commonly does not recover more than half of the cost as added value to your house. This is because patios are not especially visible and are not commonly considered the highlight of the home. However, a full upgrade will be more impressive than just a layer of stone. 

  1. Bathroom Addition 

When considering a bathroom addition, it’s important to ask “does the house need a new bathroom, based on the number of bedrooms?” A bathroom involves expensive renovation, with plumbing playing a big role in the cost of the project. While bathroom remodels see better returns on investment, building an entirely new bathroom is a project that is best avoided unless absolutely necessary. 

  1. Master Bedroom Addition 

An expanded master bedroom can be an expensive project, and today’s tenants do not really care about making master bedrooms larger. Furthermore, as a rule, only plan a master bedroom addition if you want it and you’re planning on staying in the property yourself for years to come.  

  1. Sunroom 

A full sunroom needs careful design, proper insulation and a lot of maintenance. And potential clients may end up seeing it as a superfluous feature and unnecessary. If your property has the space for a potential sunroom, consider a gazebo or screened porch to increase the rental value instead. 

  1. Home Office Renovation 

Home offices are great if you regularly use them and a renovation may be important for your personal day-to-day work. However, your prospective clients may not feel the same way. Additionally, these renovations don’t contribute much to the property’s market value. 

  1. Garage Addition 

While a garage door has a big impact on curb appeal, a bigger or more elaborate garage is harder to notice. And it has limited uses compared to other indoor renovations, which add rental value. 

  1. Window Replacement 

Window replacements can vary greatly, and some may have more impact on the rental value of your property than others. Well-planned window projects may see a high return on investment, but casual window installations aren’t expected to add much value at all. Instead, look for replacements where you can expand windows for more light or greatly improve their insulation.

In Conclusion

While this list might give you a head start to finding the best renovations that will improve the rental value of your home, it’s always important to take into consideration the needs of your tenants and the nature of your property.  

Your return on investment is important but not all home projects add much value, so always consider your investments carefully. If you would like to find out more about how Keey can help you get the most out of your rental business, contact us today! 

Discover how much your property could earn you