Tweet

ADDING VALUE THROUGH RENOVATIONS

  Renovation projects, wisely chosen, can enhance the value of a home and provide a healthy return on investment.

  According to the Appraisal Institute of Canada, the most profitable home renovations are kitchens and bathrooms, which generally result in a return on investment (ROI) of 75 to 100 per cent.

 An interior paint job offers 50 to 100 per cent ROI, and a finished basement recovers 50 to 75 per cent of the original cost when the property is sold. 

 The lowest returns (between zero and 25 per cent) are realized for in-ground pools and skylights.

 The top ten renovation plans among Canadian homeowners, according to a recent Bank of Montreal survey, revealed the following:

 • Nearly half of homeowners surveyed plan to renovate their kitchens and bathrooms (48 per cent and 46 per cent respectively).

 • More than one third are planning to undertake exterior renovations (36 per cent), landscaping projects (39 per cent), or basement renovations (38 per cent).

 • Fewer homeowners are planning renovations to bedrooms (25 per cent), family rooms (21 per cent), dining rooms (11 per cent), home additions (7 per cent), or pools (2 per cent).

  CLICK HERE