If you ask any homeowner what they’d like to change about their home, chances are they’ll say, “Where do I start?”
Home renovations—whether for resale value, increased functionality, or personal enjoyment—can come from many motivations. Maybe you’re preparing to sell your home in Kamloops, BC, making space for a growing family, modernizing outdated designs, or addressing structural concerns.
However, not all remodeling projects offer equal financial returns. Many homeowners assume that any renovation will directly boost their home’s value, but true return on investment (ROI) goes beyond just resale price. It’s essential to factor in labour, material costs, and the time involved. Some projects provide a high-quality living experience but may not significantly increase your home’s market value, while others offer substantial financial payback.
If you’re looking to enhance your living space, build equity, or maximize your home’s resale potential in the Kamloops real estate market, here are four renovation projects with the highest ROI—plus tips to make them successful.
Before exploring specific renovation projects, it's crucial to understand how these ROI estimates were determined. This article draws insights from the 2024 Cost vs. Value Report by Zonda Media, a trusted research firm specializing in real estate and construction trends. The report calculates ROI based on national averages for labour and material costs, so actual returns may vary depending on regional factors. In Kamloops, BC, local market conditions, contractor rates, and material availability can all influence the final value of a renovation project.
Job Cost: $4,513
Resale Value: $8,751
ROI: 193.9%
Upgrading an outdated garage door is one of the easiest ways to significantly enhance your home’s curb appeal—and it also offers the highest return on investment of any renovation. Since a garage door takes up a large portion of a home’s exterior, a stylish, modern upgrade can instantly refresh its overall look, making it more appealing to potential buyers in Kamloops, BC.
Garage doors that yield the best ROI include insulated steel doors with contemporary paneling, custom carriage-style designs, and models with decorative hardware or windows. These options not only boost visual appeal but also improve energy efficiency and functionality—key selling points in Kamloops' diverse climate.
Job Cost: $2,355
Resale Value: $4,430
ROI: 188.1%
Upgrade to a Steel Entry Door for Maximum ROI in Kamloops, BC
Swapping out your existing entry door for a steel one is a simple yet high-impact upgrade that enhances both curb appeal and energy efficiency. Compared to wood doors, steel options are more affordable while still offering durability, longevity, and strong visual appeal. This makes them an excellent investment for homeowners in Kamloops looking to improve their home’s exterior without overspending.
Why It Works:
● Budget-Friendly Curb Appeal: Steel doors offer a sleek, modern look at a lower cost than wood, making them a cost-effective way to elevate your home’s first impression.
● Energy Efficiency: Many steel doors feature insulated cores that help regulate indoor temperatures, reducing energy costs—a valuable benefit for Kamloops’ seasonal weather.
● Enhanced Security: Steel doors are tougher to break into than traditional wood doors, adding an extra layer of protection that appeals to safety-conscious buyers.
Job Cost: $11,287
Resale Value: $17,291
ROI: 153.2%
Boost Curb Appeal in Kamloops, with Manufactured Stone Veneer
Adding manufactured stone veneer (MSV) is a high-ROI renovation that enhances your home’s exterior with a sophisticated, natural-stone look—at a fraction of the cost. This lightweight, artificial cladding mimics real stone, offering an affordable way to elevate curb appeal and attract buyers in Kamloops’ competitive housing market.
Why It Works:
● Striking Aesthetic Upgrade: MSV adds texture, depth, and elegance, creating a high-end look that instantly boosts curb appeal.
● Durability & Low Maintenance: Unlike natural stone, MSV is lightweight, easy to install, and highly resistant to wear, making it a long-lasting investment.
● Perceived Luxury: Even though it's a faux material, MSV exudes a high-end, craftsman-style appearance that increases buyer interest and home value.
Pro Tip: For maximum impact without overspending, use manufactured stone veneer to highlight key areas like entryways, columns, or the lower portion of your home's facade.
Job Cost: $27,492
Resale Value: $26,406
ROI: 96.1%
Kitchen Remodels: A Top ROI Renovation
A well-upgraded kitchen remains one of the strongest selling points for homeowners. According to Homelight’s Top Agent Insights End of Year 2024 Report, 88% of real estate agents say that modernized kitchens and appliances significantly boost a home's marketability—an increase from the previous year. (Source)
The key to maximizing ROI on a kitchen remodel is smart budgeting—deciding what to upgrade, choosing cost-effective materials, and working within the existing layout. Simple changes, like refacing cabinet doors and updating hardware, can refresh your space at a lower cost. When done strategically, a kitchen renovation can recoup much of the investment and help your home stand out in Kamloops’ real estate market.
Why It Works:
● High Buyer Demand: Kitchens are a major selling point, so even modest improvements can make a big impact.
● Cost-Effective Upgrades: Opting for midrange materials—like quartz countertops, energy-efficient appliances, and refaced cabinetry—keeps costs manageable while delivering a modern look.
● Layout Efficiency: Keeping the existing layout and avoiding major structural changes allows for a stylish, updated kitchen without excessive costs.
Key Takeaways for Kamloops Homeowners.
A striking 7 out of the 10 top ROI home improvement projects focus on exterior upgrades. The takeaway? Enhancing curb appeal in a cost-effective way is the best investment if you're planning to sell your home this year.
Looking at the current real estate market, it's clear why this trend is emerging. During the post-pandemic housing rush, buyers had little choice and had to settle for what was available. However, with increased housing inventory over the past couple of years, buyers now have more options. Additionally, with high interest rates and affordability challenges, today’s market is driven by move-up buyers with home equity, who can afford to be more selective.
These trends are highlighted in the Top Agent Insights End of Year 2024 Report by HomeLight: (Source).
Given these trends, it's clear that the best ROI remodeling projects are those that help a home stand out in the Kamloops market and leave a lasting impression on buyers. Enhancing curb appeal and making strategic, budget-friendly upgrades can make all the difference in attracting potential buyers.
On the other hand, projects with the lowest ROI tend to involve extensive remodels or high-end materials. Anytime you alter a home’s footprint—such as moving walls or adding square footage—you’re looking at higher costs and lower returns. Unless you're a skilled DIYer or a general contractor, these upscale renovations typically don’t pay off from a financial standpoint. The exception? If you're in a luxury market where premium finishes and high-end appliances are the standard rather than the exception.
How to Get Started on a Remodeling Project
Starting a home remodeling project can feel overwhelming, but the right approach can set you up for success. Here’s a step-by-step guide to ensure your renovation is smooth, efficient, and high in return on investment (ROI).
1. Outline Your Project Goals
Before jumping into the details, take time to define what you hope to achieve.
- Are you remodeling to enhance aesthetics?
- Do you want to improve functionality or comfort for your family?
- Are you preparing to sell your home and aiming to boost resale value in Kamloops’ competitive market?
- Is it an essential repair?
Clarifying your objectives will help you prioritize tasks and determine what’s truly worth the investment.
2. Get Inspired
Gathering ideas is an important step in shaping your vision. Whether you’re updating a single room or planning a major renovation, these resources can provide inspiration:
- Houzz: Browse thousands of photos, find product recommendations, and discover local contractors in Kamloops.
- Pinterest: Create mood boards with your favorite designs and layouts. Add '-Pinterest' to Google searches for targeted remodeling ideas.
- This Old House: Offers expert guides, DIY tips, and professional remodeling insights.
- YouTube Channels: Follow home renovation YouTubers for real-life project walkthroughs, product reviews, and expert advice.
- Visit Local Showrooms: Explore Kamloops' local showrooms and warehouses for inspiration on fixtures, cabinetry, and countertops.
- Open Houses: Tour open houses in your neighborhood to see trending designs and practical remodeling ideas.
- Local Contractor Websites: Many Kamloops remodeling companies showcase project galleries with before-and-after photos.
3. Prioritize Wants vs. Needs
Once you’ve gathered ideas, it’s time to separate essential upgrades from optional extras.
- Must-Haves: Structural repairs, safety upgrades, and code-compliance fixes.
- Nice-to-Haves: Aesthetic improvements or additional features you’d love if the budget allows.
A prioritized list will help you make smart decisions if costs rise or timelines shift.
4. Define the Scope & Timeline
Clearly outlining your project details will help keep everything on track and within budget.
- What’s Included: Are you focusing on surface updates, or will you be making structural changes?
- Project Phases: If tackling multiple renovations, breaking them into phases can help with scheduling and budgeting.
- Realistic Timelines: Consider weather conditions in Kamloops, major life events, and availability of materials when planning.
5. Set a Realistic Budget
Researching typical remodeling costs will help you create a practical budget. Use resources like:
- Remodeling Magazine’s Cost vs. Value Report
- HomeAdvisor for regional pricing comparisons
- The National Association of Home Builders (NAHB) for renovation cost data
6. Include a Contingency Fund
Unexpected expenses can arise even with thorough planning. Most experts recommend setting aside 15% - 30% of your total budget for contingencies.
7. Research Contractors & Get Multiple Quotes
If hiring professionals, obtain at least three detailed quotes to compare pricing and scope of work. Use this checklist to find the best contractor:
Checklist for Hiring a Contractor in Kamloops
- Get Recommendations: Ask friends, family, neighbors, or real estate agents. Local word-of-mouth is invaluable in finding trusted contractors.
- Check Credentials, Licensing & Insurance: Verify that the contractor is licensed to work in BC. Use online databases to confirm their credentials.
- Review Past Projects & Client References: Ask for a portfolio of previous work similar to your project.
- Request Detailed Bids: Ensure estimates break down costs for labor, materials, permits, and additional fees.
- Sign a Clear Contract: Make sure it outlines the scope of work, timeline, and payment terms.
- Check References: A reputable contractor should provide references. Contact past clients about their experiences.
Avoid These Red Flags:
- Unusually Low Bids: If a quote seems too good to be true, it may indicate hidden costs or poor-quality work.
- Pressure to Pay Upfront: A small deposit is normal, but avoid contractors demanding full payment before work begins.
- No Written Contract: Never rely on verbal agreements alone.
- Poor Communication: If a contractor is difficult to reach during the quoting process, expect similar issues during the project.
Conclusion
Whether you're upgrading your home to sell or simply want to enjoy a modernized space, focusing on high-ROI projects is a smart strategy. From replacing your garage door to enhancing your exterior with stone veneer, these improvements can increase your home’s value and appeal in Kamloops.
Curious about what features are popular in your neighborhood? Thinking of selling and wondering which remodeling projects make the most sense? Need recommendations for local contractors? I’m happy to help!
