| ext">When considering a renovation in order to | | | | Build a Fence (25% - 50%) |
| improve the value of your home before listing it | | | | Interlocking Paving (25% - 50%) |
| for sale, you definitely want to ensure you will | | | | Landscaping (25% - 50%) |
| receive a return on your investment when you | | | | Asphalt Paving (20% - 50%) |
| sell your home. | | | | Add A Swimming Pool (10% - 40%) |
| There is always a slight difference of opinion on | | | | Install a Skylight (0% - 25%) |
| the return to the seller. But basically, the top 10 | | | | The National Association of Remodeling Industry: |
| remain fairly close regardless of whose survey | | | | Renovation Average Cost Resale Recovery |
| the information has come from. | | | | Paint $700 200% plus |
| The attached surveys are supplied by outside | | | | Add a Bathroom $10,000 96% |
| sources, and are fairly similar in general, and come | | | | Add a Fireplace $4,000 94% |
| from very reputable organizations. | | | | Kitchen Renovation (minor $8,500 79% |
| The Appraisal Institute of Canada: | | | | Kitchen Renovation (major) $24,000 70% |
| Painting and decor, interior - 73% | | | | Bathroom Renovation $7,500 69% |
| Kitchen renovations - 72% | | | | Add a Skylight $4,000 68% |
| Bathroom renovations - 68% | | | | New Siding $7,500 67% |
| Painting, exterior - 65% | | | | Add Insulation $1,750 65% |
| Flooring upgrades - 62% | | | | Addition $35,000 62% |
| Window/door replacement - 57% | | | | New Roof $4,600 61% |
| Main floor family room addition - 51% | | | | Deck $6,000 60% |
| Fireplace addition - 50% | | | | Greenhouse Addition $17,000 56% |
| Basement renovation - 49% | | | | Replace Windows/Doors $12,000 55% |
| Furnace/heating system replacement - 48% | | | | Add a Swimming Pool $24,000 39% |
| Most common renovations being done | | | | Conclusion |
| Main floor laundry room | | | | If you are considering renovations, make sure |
| Ground floor home office | | | | you research your project carefully to ensure you |
| Hardwood flooring upgrade in kitchen | | | | are making a wise financial decision, able to do the |
| Whirlpool bath separate from shower | | | | job, have your pricing done accurately, and |
| Built-in kitchen appliances | | | | getting the most bang for your buck! |
| Addition of kitchen cooking island | | | | Remember some home renovations or |
| Non-neutral interior paint colours | | | | improvements may improve the quality of life, |
| Smart house wiring | | | | but they may not increase the value of the |
| Home theatre room | | | | home. The basic factors of value are still in full |
| Skylights | | | | effect when it comes to pricing. If the home you |
| Expected Return (Range of Return) | | | | are renovating is in a low price range |
| Exterior Paint (50% - 100%) | | | | neighborhood, improvements beyond the |
| Interior Paint (50% - 100%) | | | | neighbor’s home will not increase or |
| Bathroom Renovation (75% - 100%) | | | | maintain the dollar for dollar cost you may have |
| Kitchen Renovation (75% - 100%) | | | | put into the home. |
| Furnace/Heating System Upgrade (50% - | | | | Example: |
| 80%) | | | | If you take an old home in an old neighborhood, |
| Roof Shingle Replacement (50% - 80%) | | | | spend thousands and thousands of dollars to turn |
| Basement Renovation (50% - 75%) | | | | it into an elegant palace, its value will still reflect |
| Recreation Room Project (50% - 75%) | | | | that of the nice old home in the old neighborhood. |
| Install a Fireplace (50% - 75%) | | | | The appraisals are done using comparable homes |
| Flooring Upgrade (50% - 75%) | | | | in the area. |
| Window/Door Replacement (50% - 75%) | | | | The point is, when it comes to home renovations, |
| Build a Deck (50% - 75%) | | | | don’t try to be the best on the block. You |
| Construct A Garage (50% - 75%) | | | | may be overpricing your home for the |
| Install Central Air Conditioning (25% - 75%) | | | | neighborhood. |