Renovations

What renovations will give me the greatest return when selling my property?

The top three renovations that get you the most money* are:

  • 1. Bathrooms (75 to 100% return)
  • 2. Kitchens (75 to 100% return)
  • 3. Interior and exterior painting (50 to 100% return)

*Appraisal Institute of Canada's 2004 Home Renovation Survey

Other renovations and their average rate of return (the value they add compared to what they cost) include:

  • * Replacing roof shingles (50 to 80%)
  • * Replacing the furnace and heating system (50 to 80%)
  • * Renovating the basement (50 to 75%)
  • * Adding a recreation room (50 to 75%)
  • * Installing a fire place (50 to 75%)
  • * Up-grading floors (50 to 75%)
  • * Building a garage (50 to 75%)
  • * Replacing windows and doors (50 to 75%)
  • * Building a deck (50 to 75%)
  • * Installing central air conditioning (25 to 75%)