There are many reasons we decide to renovate, whether for the highest return on your investment, personal enjoyment or to maintain and/or increase the value of your home. The appraisal institute of Canada has published the best considerations for Home Owners. 

The Top 5 Renovations for the Highest Return on your Investment (ROI)

When looking to increase your ROI, try and always keep in mind you should only renovate to the keep in line with your area. Some overspend on beautiful renovations with the intention of selling, but then find out the area will not give them the return they hoped for. 

  • Kitchen 
  • Bathroom
  • Repainting Interior / Exterior - try and keep the colours with the trends of the local area
  • Updating decor - lighting and plumbing fixtures, countertops, replacing worn flooring (vinyl or carpets) or refinishing your hardwood floors.
  • Decluttering - think of your home like a builder does, make it somewhat sparse like a showhome!


The Top 5 Renovations you can do for the Highest Enjoyment

  • Basement Finishing
  • Garages
  • Sun Rooms / Additions
  • Decks / Fences
  • Landscaping


The Top 5 Renovations you can do to Maintain Value

  • Replacing the roof
  • Updating the heating / cooling system
  • Replacing windows and doors
  • Updating electrical (panel, wiring, sockets, fixtures)
  • Repairing structural defects

Renovate for Success

1. Understand Why you are Renovating

2. Think about your personal needs and wants

3.  Hire the right professionals

4. If thinking of selling, consider calling your real estate professional or an appraiser