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!
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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.