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Kitchen Renovation Has Largest Potential to Increase a Property’s Value

TORONTO, JUNE 28, 2018 – According to a cross-Canada survey a kitchen renovation is the clear upgrade of choice with the potential to boost a property’s value by more than 12.5 per cent.  Ranking second, a finished basement or a new bathroom has the potential to increase a property’s value between 2.5 per cent and 12.5 per cent, depending on the investment.

To financially benefit from a home improvement project, you need to keep potential homebuyers in mind.  While updating a kitchen should increase your sale price, a pool can actually deter families with young children or those who are looking for less maintenance.  Adding a pool or deck is considered the least worthwhile renovation to increase a property’s value with pricing potential limited to a maximum of 2.5 per cent of the value of the home.

For Canadians looking for more general guidance on where to focus their home projects, the vast majority of surveyed experts recommended interior renovations (95.0%) over exterior renovations (5.0%).

Curb appeal is important but more time is spent indoors at the open house and that is where buyers typically fall in love with a home,.  When renovating with the potential to sell, the most important thing to remember is to use colours and materials that are popular and not too personal.

The survey showed that prospective sellers are willing to invest less than 2.5 per cent of a property’s value on home renovations prior to listing their home, which represents an investment of up to $15,138 on a property valued at $605,512– the current median home price in Canada.

When asked which generation is the most likely to renovate their home, 45.1 per cent of surveyed experts said baby boomers, as many are planning to sell and downsize. They are also most likely to have the funds needed for a significant renovation.  Baby boomers run the risk of their property selling for a lower price or languishing on the market for longer than expected if they held their property for a long period of time without updating periodically. Although many buyers can see themselves making home improvements themselves, its very hard for a buyer to get excited or imagine living in a space that is run down or the decor reflects another generation.

Popular Home Improvements

Rank Project Potential increase to home’s selling price Respondents
1 Kitchen Greater than 12.5% 54.7%
2 Bathroom Between 2.5% and 12.5% 50.8%
2 Finished basement Between 2.5% and 12.5% 60.0%
4 Eco-upgrades (ie, windows, heating) Less than 10.0% 60.0%
4 Basement apartment Less than 10.0% 55.2%
6 Landscaping Less than 7.5% 60.2%
6 Interior painting Less than 7.5% 60.2%
8 Exterior painting Less than 5.0% 54.9%
9 Deck Less than 2.5% 55.0%
9 Pool Less than 2.5% 66.4%

Provided courtesy of:

Michael Jesus
Kaiser Lachance Communications

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Mahogany is the result of meticulous planning, tremendous commitment and a bold vision for what a complete and inclusive community can be. With a collection of distinctive home styles, amenities designed for better living, Calgary’s largest lake, unparalleled recreational activities, and abundant natural spaces, Mahogany offers something for everyone. Visit today and discover what it means to be part of a truly extraordinary way of life.


The Mahogany Homeowners Association (HOA) is a society established by Hopewell Residential for the residents of Mahogany, and is incorporated under the Societies Act. On behalf of all homeowners, this organization will become the legal owner of certain community amenities to be constructed by Hopewell, together with the lands upon which such amenities are located.

With all residents contributing annually, funds will be used to successfully maintain the amenities and lands that the HOA will inherit from Hopewell, as well as to provide lifestyle programs and community events within the community.

Under the leadership of the HOA’s volunteer board, the community will continue to offer outstanding social, educational and recreational opportunities and enhanced value for generations to come. Working on behalf of all residents, the HOA will help create a genuine sense of community, to be shared and enjoyed by all who choose to make Mahogany their home.

To learn more about the Mahogany HOA, visit



All of Calgary’s finest builders are featured within the growing community of Mahogany.  To ensure that you don’t miss out on any of these homes contact one of our REALTORS® at 403.278.8899.  We look forward to helping you with your next move.

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