Top Renovations & Resale Value

If  you are thinking of renovating for the purposes of resale you will find this list interesting.  When renovating for resale it is a good idea to go with neutral colours throughout  your home.  The Appraisal Institute of Canada has highlighted the top 10 renovations and their average rate of return at resale:

* Interior Painting -  73%
* Kitchen Renovation - 72%
* Bathroom Renovation - 68%
* Exterior Paint - 65%
* Window/Door Replacement - 57%
* Main Floor Family Room Addition - 51%
* Fireplace Addition - 50%
* Basement Renovation - 49%
* Furnace/Heating System Replacement - 48%

In the opinion of Canada's professional real property values, the top trends in home renovation in 2004 were:

1. Home theatre room
2. Hardwood flooring in kitchen
3. Main floor laundry room
4. Use of non- neutral interior paint colours
5. Installing a jacuzzi or whirlpool bath
6. Built in kitchen appliances
7. Ground floor office
8. Addition of island in kitchen

Six lowest pay back potentials:

* Landscaping (25-30%)
* Interlocking paving (25-50%)
* Building a fence (25-50)
* Asphalt paving (20-50%)
* Adding a swimming pool (10-40%)
* Installing a skylight (0-25%)


Sandra Smith- Salt Spring Island HomeFinder!
Homes for sale, estates, waterfront, acreages, farms on beautiful Salt Spring Island in the Gulf Islands of Canada.

Macdonald Realty Salt Spring Island,
101-170 Fulford Ganges Road, Salt Spring Island, British Columbia V8K 2T8
Office (250) 537-1201. Toll Free 1-800-537-1201.
sandra@saltspringhomefinder.com