Renovations that are good investment and those that are not

Homeowners often look to add value to their home by completing renovations, which will help increase the selling price. However, certain renovations are going to help you cash in a lot more than others. Below are a few examples of renovations that are a good investment, and others that are not.

Increasing your living space or adding another room is always a good investment. If you're looking to renovate your basement, adding a bedroom is a great idea. Basements with separate entrances are also a huge draw for buyers, as this allows for privacy, should the buyer rent out the basement.

Kitchens remain as one of the top invesments for a home.

Kitchens and bathroom remain as the top two renovations. Both are an amazing investment and automatically increase the value of your home. As a buyer, if you are walking into an open house, and you can see that the bathrooms and kitchen are renovated and ready to go, you are much more likely to want to move in. Walking into an outdated space means that the buyer will eventually have to renovate the space and that may cause them to turn their heads.

A few examples of renovations that are not the greatest investment would be swimming pools and home theatres. They only yield 25 to 50 percent on your investment, so you are not even getting back half of what you spend on the renovation. A skylight also is a poor investment, as it only yields 0 to 25 percent on your investment.

Hardwood floors are always a great idea! A renovation that will add value to your home.

Hardwood flooring, ceramic sinks, stainless steel appliances are also popular with buyers and consumers.