Where to Spend Your Renovation Dollars - April 3rd 2007


Where to Spend Your Renovation Dollars


Whether you're planning to sell your home soon or to stay put for a while, you'd probably rather have any improvements you make to your home add as much value as possible. A study by the Appraisal Institute of Canada has shown that bathroom and kitchen renovations provide the highest possible payback potential. It is estimated that at least 75% of the money invested in kitchen renovation projects is recouped when the property is sold, while interior and exterior painting can help you recoup between 50% to 100% of the costs.

Renovation projects that provide the highest resale payback potential for homeowners include:


  1. - Bathroom renovation
  2. - Kitchen renovation
  3. - Painting (interior/exterior)
  4. - Replacing roof shingles
  5. - Replacing the furnace and heating system
  6. - Renovating the basement
  7. - Adding a recreation room
  8. - Installing a fire place
  9. - Up-grading floors
  10. - Building a garage
  11. - Replacing windows and doors
  12. - Building a deck
  13. - Installing central air conditioning


Six lowest payback potentials

  • - Landscaping
  • - Interlocking paving
  • - Building a fence
  • - Asphalt paving
  • - Adding a swimming pool
  • - Installing a skylight


The top home renovation trends in the marketplace

  • - Home theatre room
  • - Hardwood flooring in kitchen
  • - Main floor laundry room
  • - Use of non-neutral interior paint colours
  • - Installing a jacuzzi or whirlpool bath
  • - Built-in kitchen appliances
  • - Ground floor office
  • - Addition of island in kitchen