Renovations and Home Improvements: A Smart Investment?

Wondering what kind of return you can expect after investing all that money in home improvements? Here are some rough ideas for the percentage recouped at the time you sell your home.*

150% Remodelled Kitchen:
Kitchen updates can reward home sellers with substantial payback. Keep in mind though, that fancy finishes and highly personalized taste can make a dent in your profit. Simple, functional and neutral are the bywords here.

100% Revitalized Lawn and Garden:
Rolling green and a splash of floral colour - it draws potential buyers like hummingbirds to lilacs. A few hundred dollars invested may return thousands in profit.

100% Fireplace:
Warmth, tradition, hearth and home. Especially if it's energy-efficient (like many gas models), this one's a sure winner.

90% Second Bath:
... or even a humble lavatory - it can make a difference in civilized living for many families.

80% Room Addition:
Most popular choices for resale value: a family room or an extra bedroom.

60-80% Remodelled Bath:
With a master bath on most buyers' wish lists, this is a wise place to invest. Consider installing two sinks to handle the morning rush hour.

70% Deck:
Regardless of locale, outdoor living spaces are in demand! Low-maintenance decking material leaves more time to enjoy the view.

50% Exterior Paint:
You'll take years off an older home with fresh colour and finish. Tops for adding "curb appeal".

40% Finished Basement:
A terrific way to add space without building a costly addition. Walk-out access adds even more value.

40% Heating System:
Replace the existing one only if it's dysfunctional. Buyers' preferences vary on this one.

35% New Windows and Doors:
Energy-efficient and visually appealing, these worthy additions don't necessarily translate into recouped investment. Alert prospective buyers to the reduced energy bills.

Changes That May Not Matter:
Some renovations don't affect resale profits, and others could actually detract. Swimming pools, water gardens, and greenhouse additions - their value is in the eye of the prospective buyer!

(*Rates of return vary by region, trends and period of time.)

Renovation Resources and Links:

Canada Housing and Mortgage Corporation (CMHC) is the Government of Canada's National housing agency. They provide many useful tools, articles and resources for the Canadian home owner.

Building, Renovating & Maintaining