One the most common questions Insingle most question homebuyers have is
" what renovations to my home have the greatest payback for when I sell "
While this is a million dollar question, it is very easily answered thanks to the RENOVA tool developed by the Appraisal Institute of Canada.
RENOVA gives consumers a better idea of the return on investment they can expect for a variety of home improvements. The last thing that you want to do is to put too much money into renovations that you may not be able to get out of your home when you sell. Provided below are some of the returns on investment that you will realize and by improving your home that makes your home more attractive and has a better return on investment. These include:
Basement Renovation = 50 - 75% return
Bathroom Renovation -= 75% to 100%
Kitchen Renovation = 75% to 100%
Painting - Interior or Exterior = 50 to 100%
Swimming Pool = 0 - 25%
This is a really great tool that I send to my clients to help them decide on which renovations provide the best return for them. I have attached a link to the site for your reference. http://component.aicanada.ca/e/resourcecenter_renova.cfm.
For a free market assessment on your home, please contact me at 905-693-9575 or through email: brian@RightRealtor.ca
BRIAN BELL - MBA
Realty Executives Plus Ltd., Brokerage