Home   |   Contact

Renovation Info

Renovations with the Best Return

 

Whether doing-it-yourself or hiring a professional, interior painting, hardwood flooring and kitchen upgrades are amongst top renovations.

Painting the outside of your home enhances the curb appeal of your home relatively inexpensively and is an excellent investment bringing substantial ROI.

*But be warned: good design and execution are the only way to get your money back.

Important in any renovation: Don’t eliminate options for future buyers when you remodel.

For further detailed information on preparing your home to sell please contact Susan at 416.573.2472 or Susan@LancasterLuxuryHomes.com.

Setting the Stage to Sell is something Susan knows … Decorate to Live, Stage to Sell

As an Accredited Canadian Staging Professional, Susan will work with you to Stage your Home to create that “WOW” factor that Buyers expect … Susan understands that Homes have seconds to make a FIRST impression, make sure your home makes that lasting impression on the Buyers. Call Susan today!

___________________________________________________________________________________

 

Return on Investment for Renovations and Upgrades

 According to the Appraisal Institute of Canada.

 

Expected Return (Range of Return)

Poor Return on Investment

  • Skylight installation                    (0% – 25%)
  • Swimming pool                         (0% – 25%)
  • Whirlpool Tub installation          (0% – 50%)
  • Interlocking Brick walkways        (25% – 50%)
  • Home Theatre                           (25% – 50%)
  • Building a Fence                        (25% – 50%)
  • Paving with asphalt                    (25% – 50%)
  • Landscaping                             (25% – 50%)

 

Medium Return on Investment

  • Central Air installation                (25% – 75%)
  • Roof Shingle Replacement          (25% – 75%)
  • Deck Building                           (25% – 75%)
  • Paving with Concrete                 (25% – 75%)
  • Basement Renovation                (50% – 75%)
  • Construct A Garage                   (50% – 75%)
  • Recreation Room                       (50% – 75%)
  • Fireplace installation                   50% – 75%)
  • Flooring upgrade                       (50% – 75%)
  • Heating System upgrade             (50% – 75%)
  • Windows & Door replacement   (50% – 75%)
  • Garage Construction                 (50% – 75%)

 

 High Return on Investment

  • Bathroom Renovation               (75% – 100%)
  • Kitchen Renovation                   (75% – 100%)
  • Exterior Paint                            (50% – 100%)
  • Interior Paint                             (50% – 100%)

 

The Appraisal Institute of Canada has a useful worksheet that calculates potential return according to the above range. If you are planning to upgrade have a look.


Return on Investment

On upgrades according to

The National Association of the Remodeling Industry

 

Not surprisingly they are more optimistic than the Appraisers’ (conservative) return estimates, but the order of return remains much the same.

 

RenovationPaint
Add a Bathroom
Add a Fireplace
Kitchen Renovation (minor)
Kitchen Renovation (major)
Bathroom Renovation
Add a Skylight
New Siding
Add Insulation
Addition
New Roof
Deck
Greenhouse Addition
Replace Windows /Doors
Add a Swimming Pool
Average Cost$700
$10,000
$4,000
$8,500
$24,000
$7,500
$4,000
$7,500
$1,750
$35,000
$4,600
$6,000
$17,000
$12,000
$24,000
Resale Recovery200% plus
96%
94%
79%
70%
69%
68%
67%
65%
62%
61%
60%
56%
55%
39%

 

 

The above information and stats are approximate and not guaranteed.

Follow Susan on:
Facebook  Linkedin  Twitter  Pinterest  YouTuber