Home Builder Canada Readers survey

PRODUCT FINDER

NP_lineHome Builder Magazine New Products Online
NP_line
Computers, Educational
&Technology

NP_line
Electrical & Mechanical
NP_line
Exteriors
NP_line
Finishes & Surfaces
NP_line
Kitchens & Baths
NP_line
Landscape & Design
NP_line
Speciality Products
NP_line
Structural
NP_line
Tools & Equipment
NP_line
Windows & Doors
NP_line
New Products home
NP_line

buyers guide button


External Links: Associations & Governments. Builders & Renovators . Manufacturers & Suppliers

Home . About Us . Subscribe . Advertise . Editorial Outline . Contact Us . Current Issue . Back Issues . Jon Eakes



© Copyright - Work-4 Projects Ltd.

Some renovations pay off. Others not so much.

Renovation spending in Canada is $12 billion a month pace and the typical consumer is dropping more than $13,000 into the effort, according to Statistics Canada and TD Bank.
Some of that reno money will boost a home’s resale value, but others are just not worth the effort.
Based on home appraisal studies, these are the five renovations that pay off the most:
Updated kitchen: New cabinet fronts and new hardware to a full-on renovation with new appliances and flooring, the kitchen is often the money-room at resale time.
Updated bathroom: Bathroom renovations are among the most reliable in terms of boosting the overall value of your home. Popular mid-range renovations could include modern showerheads and faucets, and a new sink and counter top.
Fresh painting: A fresh coat of paint can work wonders on the overall impression and resale value. Light and mid-range neutral colours tend to appeal to the widest range of prospective homebuyers.
Finish the basement: Finishing increase the value and square footage of a home can even provide a mortgage-helper rental suite. Add a bathroom and wet bar so it is ready for suite conversion – buyers will appreciate it.
Energy upgrades: Particularly popular in Ontario, energy-saving new windows, doors and insulation can also boost a home’s resale value.

 
Renos that don’t pay off:
Expensive, extensive landscaping: Many homebuyers view expansive landscaping as a potential upkeep chore, and it will add little to the resale price, unless you find the perfect green-thumb buyer.
High-end, one-off upgrades: Installing an expensive stainless steel fridge will not add value unless the entire kitchen is redone to match. Ditto for that fancy faucet package or the built-in surround-sound speakers.
Carpeting: It is often better these days to rip out the carpets and replace with hardwood flooring or tiles. For many Canadian consumers, wall-to-wall carpet is passé and potentially harmful due to chemical compounds and allergies.




homeBUILDERcanada.com | Home BUILDER Magazine | Canada's #1 Information Source for Residential Home Builders and Professional Renovators

HB house ad sub
Home Builder Magazine Ask Jon Eakes
Official Magazine of the Canadian Home Builders Association
Home Builder current issue