If you are thinking of doing some renovations in the year to come, here is some information that you might find helpful, when you are trying to decide where to start.

The top renovation projects in 2011 were:

1.   Kitchens                                48%

2.   Bathrooms                            46%

3.   Landscaping                        39%

4.   Basements                           38%

5.   Exteriors (roof, windows)   36%

6.   Bedrooms                             25%

7.   Family Rooms                      21%

8.   Dining Rooms                      11%

9.   Additions on the home           7%

10. In ground pools                       2%

It is important to understand that not all renovations will deliver the same return on a homeowner's investment.

According to the AIC (Appraisal Institute of Canada), the renovation projects that resulted in the greatest return on investment (ROI) were as follows:

1.   Kitchen and Bathrooms                   ROI = 75-100%

2.   Interior Painting                                 ROI = 50-100%

2.   Finished Basements                       ROI = 50-75%

4.   In ground pool and skylights          ROI = 0-25%

Clearly, an interior paint job, based on the cost of such a renovation, is going to give you the best return on investment, especially if you are able to tackle this project yourself!   Although every woman loves a nice new kitchen...and face it guys...it is the woman who buys the house (unless you are a chef), it is a good idea for a seller to think seriously about overhauling an old and tired kitchen.  This doesn't always have to cost an arm and a leg to do.  Check out some DIY books, as there are many things you can do to make your kitchen "fresh", without breaking the bank.

I can also help you with some suggestions.  Drop me a line, if you are thinking of selling your home in the near future.

604-308-7884.