| Improvements That Will Provide The Most Return On Your Investment |
| Improvements that will make your home more saleable and provide the biggest
return on investment (ROI) according to the 2008 Appraisal Institute of Canada
(AIC) RENOVA Survey are kitchen, bathroom and energy-efficient upgrades. |
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| The 20 Most Frequent Renovation Projects: |
| Four Greatest Payback Potentials |
- Bathroom Renovation - 75% - 100%
- Kitchen Renovation - 75% - 100%
- Exterior Paint - 50% - 100%
- Interior Paint - 50% 100%
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| Ten Average Payback Potentials |
- Roof Shingle Replacement - 50% - 80%
- Furnace/Heating System Upgrade - 50% - 80%
- Basement Renovation - 50% - 75%
- Recreation Room Addition - 50% - 75%
- Install a Fireplace - 50% - 75%
- Flooring Upgrade - 50% - 75%
- Construct a Garage - 50% - 75%
- Window/Door Replacement - 50% - 75%
- Build a Deck - 50% - 75%
- Install Central Air Conditioning - 25% - 75%
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| Six Lowest Payback Potentials |
- Landscaping - 25% - 50%
- Interlocking Paving - 25% - 50%
- Build a Fence - 25% - 50%
- Asphalt Paving - 20% - 50%
- Add a Swimming Pool - 10% - 40%
- Install a Skylight - 0% - 25%
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| Every other year, AIC surveys its members and compiles a list of renovations
that, in the opinion of professional appraisers, yield the highest recovery
rate. This information is valuable for homeowners to measure what effect
home improvement projects will have on the resale value of their homes.
Consumers should be aware that home values and returns on renovation investments
are dependant on many factors such as the location of the property - i.e.
province, rural/urban, and neighbourhood. Notably important is the quality
of workmanship and materials. |
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