Renovations to increase value and return on your investment
Whether you’re considering minor renovations to update a room, or a full-scale renovation of your entire home, it’s important to be aware of how renovations might affect your property value, especially if you’re thinking of selling.
Since most renovations resolve an issue or improve quality of life, many people automatically assume that they also increase a property’s sale price. That’s often true— but it’s not always the case. According to the Appraisal Institute of Canada, “If the value of your house exceeds the average market value in your neighbourhood, your renovations will not yield much return. But if your house value is below the average, you can recover a larger part of the renovation costs.” That being said, there are certain changes to a home that are more likely to yield a financial return on investment. Top renovations that have the most potential for a financial return on investment include:
Kitchens
Kitchen renovations often give you the best return on investment compared to any other room in the house. Remember to calculate your budget and to take into consideration the average house price in your area to make sure that you aren’t pricing yourself out of the market should you choose to sell. Painting the cupboards, changing the countertop or backsplash-A kitchen upgrade often yields a 75% to 100% return on investment.
Bathrooms
The majority of people prefer bathrooms with a soothing colour palette and modern design with chic materials and finishes. The current color trend is black and white with gold fixtures-an easy fix would be changing the sink cabinet-it can totally transform the space to make it look more on trend. Bathroom renovations typically yield a 75% to 100% return on investment.
Income Suites
Income suite renovations, such as a basement apartment, an attic, a loft conversion, or a coach house style suite in a garage, when done correctly, can often double your investment. An income suite adds a significant amount of value to your home, and it can help you make money while you build. This renovation can typically yield high returns, especially for first time home buyers that may need the extra income.
Floors
Hardwood floors are the number one requested type of flooring by prospective homeowners. Hardwood looks fantastic, it is classic and super durable. Make sure you do a lot of research on the different types available on the market so that you get the most bang for your buck. This renovation can be timely and costly but will make a big impact!
Doors
Replacing an older front door with a new, high-quality one can often pay back over 70% on your investment and it greatly improves curb appeal. The same thing applies for a new garage door replacement. If you are worried about cost, you may also decide to add a fresh coat of paint to the front door and or garage door to freshen up the look and to update your home. You may even want to try a bold color like red!
Hardware & Fixtures
Homes that are fresh and updated always sell faster and often at a higher price. A very simple way to modernize the look of a home is to update things like faucets, sinks, toilets, cabinet hardware, doorknobs etc. Hardware updates can improve the entire feel of a room and a small investment can equal a big return. Light fixtures are also very important as they can often set a mood or a certain look to finish off the space.
Exterior Maintenance
It’s always a good idea to maintain the exterior of your home-remember, first impressions are everything! There are more costly things like redoing the roof, deck or planting trees to less expensive things like planting a few flowers or raking leaves, it all will help with increasing your home’s value!
Whether You Are Considering Selling Or Leasing A Home Or Condo, Alex Irish & Associates offer an unparalleled level of service, discretion and marketing regardless of price point or locale.
Related Posts
August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
Ultimate Guide to Downsizing Your Home in Canada
Alex Irish & Associates and The Regan Team Announce Strategic Merger
Two of the most respected names in real estate, Alex Irish & Associates and The Regan Team, are excited to announce a strategic merger that will combine their expertise, resources, and market reach. This partnership of Regan Irish & Associates brings together the strengths of both firms, offering an enhanced real estate experience for clients across Southern Ontario, including expanding into new regions like Collingwood and Muskoka. The merger reflects both brokerages’ long-standing commitment to providing high-quality, relationship-focused service while leveraging new technologies and business strategies to ensure their clients receive unparalleled support.
“Alex is the consummate professional,” said Matthew Regan, CEO of The Regan Team. “She embodies the qualities of a person I would trust with my own home sale, and I am excited to partner with her to combine the best of both our brokerages. Our goal is to create a work culture that allows our agents to thrive, while being confident and equipped to provide the service our clients deserve. Our clients are going to benefit immensely with a wider and deeper net of potential buyers and an even further reach in marketing and advertising.”
Alex Irish, Founder of Alex Irish & Associates, emphasized that this partnership is the next natural step for her business. “By combining our resources and efforts we knew we’d be able to create a better real estate experience for our clients, our agents and business partners.” she explained. “This merger allows me to focus more on client relationships while also mentoring our agents who can continue to offer that same high level of service. Matthew has built a business model that aligns with my long-term vision, allowing us to scale while still maintaining the personal touch. Simply put, we are better together.”
Alex has built her brand over decades, particularly in the Oakville area, where her name is synonymous with excellence in real estate. Her personal approach, based on referrals and repeat business, has earned her a loyal clientele. Matthew has focused on recruiting top agents and scaling his business, growing The Regan Team to one of the top brokerages in Canada. This merger offers an exciting opportunity to grow into new territories. Together, the merged brokerage will have 15 offices spanning from Niagara to Toronto to Muskoka. This expanded presence means more resources for clients, from enhanced marketing capabilities to a wider net of potential buyers.
The merger will officially take effect on October 31, 2024, and the new branding and operations will be rolled out in the coming months.
About Alex Irish & Associates
Alex Irish & Associates, led by Alex Irish, is a highly respected name in Oakville, known for its personalized, referral-based business model and long-standing relationships with clients. Alex has built her brand on trust, excellence, and attention to detail, qualities that will remain at the forefront of the merged firm.
About The Regan Team
The Regan Team has a long-standing reputation for innovation, process-driven operations, and a focus on agent recruitment and development to provide the highest level of service for their clients. Under Matthew’s leadership, the brokerage has expanded its presence across Ontario, providing agents with the tools and support needed to succeed in a competitive market. For more information on this exciting merger, please contact Matthew Regan.