When it comes to refinancing your Fraser Valley home, the property’s current value plays a crucial role in determining how much equity you can access. Strategic renovations and beautification projects can significantly increase your home’s appraisal value, giving you more financial options.
Why Renovate Before Refinancing?
Refinancing allows you to tap into your home’s equity, but that equity is directly tied to your property’s current market value. By investing in targeted improvements before an appraisal, you can:
- Increase your borrowing power by boosting your home’s value
- Potentially qualify for better interest rates with an improved loan-to-value ratio
- Create a more enjoyable living space while also building wealth
- Address maintenance issues that could otherwise reduce your home’s value
These updates not only improve comfort but can also impact how your home is evaluated for refinancing.
Fraser Valley homeowners are particularly well-positioned to benefit from strategic renovations, as our local market continues to place a premium on well-maintained and updated properties. You can explore some of the top renovations with the highest return to get the most out of your investment.
Top 3 Value-Boosting Improvements
1. Kitchen Updates
The kitchen remains the heart of the home and one of the most influential spaces for appraisers. You don’t necessarily need a complete renovation—strategic updates can deliver significant returns:
- Replace outdated countertops with quartz or granite
- Update cabinet hardware or refinish cabinet doors
- Install energy-efficient appliances
- Add a fresh backsplash
- Improve lighting with pendant fixtures or under-cabinet options
A thoughtful kitchen refresh typically returns 75–85% of its cost in added home value, making it a smart investment before refinancing.
A renovated white kitchen interior with an oven, sink, faucet, a wooden cabinet, and table
2. Bathroom Refreshes
Bathrooms rank just behind kitchens for impact on home value. Consider:
- Replacing outdated vanities and fixtures
- Installing new flooring (luxury vinyl tile offers excellent value)
- Updating lighting
- Re-grouting or replacing tile in shower areas
- Adding modern touches like frameless mirrors
Smart bathroom remodels in the Fraser Valley market typically return 70–80% of their cost in added value.
3. Professional Landscaping
Curb appeal creates that crucial first impression for appraisers and sets the tone for the entire valuation. Professional landscaping is particularly valuable in the Fraser Valley, where our lush environment provides excellent opportunities for creating showcase outdoor spaces. Look for reputable local landscaping companies in Chilliwack or Abbotsford that specialize in creating appealing, low-maintenance properties. These companies often have expertise in selecting plants that thrive in Fraser Valley conditions, ensuring your investment continues to appreciate over time.
Key landscaping improvements include:
- Professional garden design with year-round visual interest
- Installation of hardscaping elements like stone pathways or retaining walls
- Pressure washing of outdoor living spaces
- Strategic tree placement for shade and privacy
- Proper drainage solutions (especially important in our rainy Fraser Valley climate)
According to the NAR 2023 Remodeling Impact Report, professional landscaping typically returns 150% or more of its cost in added home value, making it one of the most financially rewarding pre-refinance investments.
Large Beautiful Residential Backyard Garden Grass Mowing Aerial View.
Planning Your Renovation Strategy
Before diving into renovations, consider these steps:
- Consult with your Browne Mortgage Broker to understand how much additional value would benefit your refinancing goals
- Obtain multiple quotes from reputable contractors
- Focus on improvements visible to appraisers
- Keep improvements appropriate to your neighborhood—over-improving rarely pays off
- Document all improvements with before-and-after photos
At Browne Mortgage Broker + More, we can help you determine which renovations make the most financial sense for your specific refinancing goals. Our deep knowledge of Fraser Valley property values allows us to provide targeted advice that maximizes your return on investment.
