Keeping up appearances is important to us Canucks. It would explain why, in 2007, we were willing to fork over an average of $11,270 per household to give our homes a nip and tuck, according to Canada Mortgage and Housing Corporation. However, before you embark on your own home makeover, you may want to consider a reno where you can expect to recoup a good chunk of your costs upon resale.
KITCHEN
Estimated recoup: 75 to 100 percent
Touching it up with some investment-worthy, sexy stainless steel appliances and smooth granite countertops can make it shine.
BATHROOM
Estimated recoup: 75 to 100 percent
Next time you’re primping and priming yourself, think about giving your bathroom some TLC too. May we suggest making it a Jacuzzi hot spot?
INTERIOR AND EXTERIOR
Estimated recoup: 50 to 100 percent
When you look good, you feel good, right? Now take that theory and apply it to your home: A dash of paint can not only change the way it looks but also attract some attention when it comes to resale. Two words: curb appeal.
FURNACE
Estimated recoup: 50 to 80 percent
Say hello to green by installing a new, energy-efficient alternative. Seventy-three percent of Canadian homeowners and those considering buying a home are willing to drop a few extra dollars for enviro-friendly features that will have them recovering costs.
FLOORING
Estimated recoup: 50 to 75 percent
Consider opting for trendy hardwood flooring to fast-forward your home from Austin Powers’ shag glam to 21st-century sophistication. With that high payback potential, it’s enough to leave you saying
“Yeah, baby, yeah!”
DECK
Estimated recoup: 50 to 75 percent
Think summer, when you’ll love the additional space to serve up those cold brewskis to your buddies.
For more reno information, visit Canada Mortgage and Housing Corporation.
