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CREATE VALUE IN YOUR HOME
 
For investors looking to maximize their return on investment, here’s all you need to know: building an income suite is by far the most profitable homeowner reno.
How do I increase the value of my property? That’s the question on every homeowners mind. There are two key survival strategies. The first is to think long term, have a plan and stick to it. History shows that this plan of action can pay off.
The second tactic is to outperform the market. This means ensuring your property increases in value at a greater rate than those in your surrounding market. One way to do that is through renovations – but not all projects are created equal when it comes to generating a return on investment (ROI).
Here are the top five “renos for ROI”:
1. Building an income suite
Also known as a rental suite, this is by far the most profitable reno a homeowner can undertake. Income suites typically have a 150% to 250% ROI.
2. Painting
This is an inexpensive way to freshen up a property. Picking neutral tones and doing a good job are key. This simple reno project gives 100% ROI.
3. Renovating Kitchens and bathrooms
Kitchens should ... more

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