What renovations will give me the greatest return when selling my property?
The top three renovations that get you the most money* are:
- Bathrooms (75 to 100% return)
- Kitchens (75 to 100% return)
- 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%)
