Renovations can be a great way to enhance the quality and value of your home. With more incentives and government rebates than ever before, now is the time to take full advantage and get those projects done!
But, how do you know which renovations will give you the biggest return on your investment when you sell your home?
Canada Mortgage and Housing Corporation and the Appraisal Institute of Canada have analyzed the typical payback range for many home renovation projects. Did you know, the best returns on renovation projects still remain bathrooms and kitchens. They typically recover 75-100% of your investment. The second best investment is interior/exterior painting recovering anywhere from 50-100% of your investment.
| TYPICAL PAYBACK RANGES | % | | |
| Roof Shingle Replacement | 50-80 | Window and Door Replacement | 50-75 |
| Furnace and Heating Systems | 50-80 | Central Air Conditioning | 25-75 |
| Basement | 50-75 | Interlock Paving | 25-50 |
| Installing a Fireplace | 50-75 | Building a Fence | 25-50 |
| Constructing a Garage | 50-75 | Landscaping | 25-50 |
| Building a Deck | 50-75 | Asphalt Paving | 20-50 |
| Flooring | 50-75 | | |
| Adding a Recreation Room | 50-75 | | |
