RE/MAX Ontario Atlantic did a very extensive study on:
What are the Top 10 Home Improvement Projects to Undertake... and what is the Paybak and Return on These Investments?
- Painting- If you're only going to do one thing, paint. Interior / Exterior painting is one of the very few improvements on which you are likely to realize a profit - as long as you choose tasteful, current, neutral colours and the work is very professional. --> Potential Return >>> As Much as 300%
- Kitchen Remodeling- Typically one of the most expensive improvements, projects, and you can quickly run up a huge bill. When remodeling the kitchen, remember to keep the project in line with the style and quality of the rest of the house and the neighborhood. --> Potential Return >>> 68%-120%
- Bathroom Addition- If your home has only one bathroom, and is meant to house more than 2 people, a bathroom addition should be one of your top priorities. --> Potential Return >>> 80%-130%
- Bathroom Remodeling- Upgrading a "poky" bathroom will enhance the value of your home and add to your daily comfort and enjoyment. White porcelain is the safe, timeless choice here. --> Potential Return >>> 65%-120%
- Finishing Unfinished Space- Whether it's an attic or a basement, by finishing these spaces, you add significant value to your home. This increases square footage without having to build. --> Potential Return >>> 50%-90%
- Window / Door Replacement- If your windows or doors are wasting energy or are simply decrepit looking, replacements can be an excellent use of your home improvement dollars. Stick to standard styles. --> Potential Return >>> 50%-90%
- Deck Addition / Improvement / Expansion- Decks are one of the few exterior improvements with any significant return, apart from painting.--> Potential Return >>> 65%-90%
- Addition of Bedrooms, Family Rooms, Sunrooms, Conservatories, Garages, etc.- Increasing square footage is almost always an excellent use of remodeling dollars, BUT don't expand your home so much that there's little outdoor space left. --> Potential Return >>> 50%-85%
- Home Office Remodeling- This project is becoming increasingly popular. Be sure to plan for plenty of electrical and cable outlets to accommodate all the required machines' and gadgets. --> Potential Return >>> 60%-73%
- Energy Efficiency Retrofits- If your primary concern is ROI (Return on Investment), proceed with caution. Some retrofits, like better insulation and high-efficiency furnaces, pay for themselves relatively quickly. Others, like solar panels, heat recovery ventilators and thankless water heaters may take years to pay for themselves. --> Potential Return >>> Highly variable.
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