Handy Manson is a Licensed Contractor turned 'self professed' internet geek, creating his local internet directory KW Contractor for the Kitchener Waterloo Area. As a fully licesensed contractor, Handy has over 20 years experience in several trades.
Are your Renovations Really Increasing the Value of Your Home?
When considering a home upgrade or reno there are 2 very important things to evaluate:
#1. Value to you
Enhancing your home with a renovation may offer more than money can provide. A beautiful outdoor living area to entertain on, a finished basement for the children to play, or that dream bathroom to help you unwind, all may contribute to a quality of life that only a home can build.
#2. Return on Investment - Resale Recovery
Despite what the trendy home flipping television programs show, not all home renovations or upgrades will give you a large return on investment. Infact, more so than not, most home renovations give you very little return on your investment. Very rarely does a $10,000 home renovation get you a $20,000 return. When considering a home renovation or upgrade for resale purposes, keep all costs in check and splurge only on the necessities.
Return-on-Investment Renovations Chart
Some renovations can seem more promising than others regarding your return on investment. In a buyers market, certain home upgrades are necessary to get top value for your home and to move quickly.
The following information is a range of the 20 most popular renovation improvements identified by a survey of the Appraisal Institue of Canada. The goal of the survey was to determine, in the informed opinion of Canada's professional real property valuers, what effect home improvement projects have on the value of home resale.
Please note: Home values and returns on renovation investments are dependent on so many factors such as the location of the property, i.e. rural/urban, the neighbourhood and notably important is the quality of workmanship and materials.
Renovation
Resale Recovery
Basement Renovation
50 - 75%
Bathroom Renovation
75 - 100%
Install Central Air
25 - 75%
Recreation Room
50 - 75%
Adding a Fireplace
50 - 75%
Flooring Upgrade
50 - 75%
Furnace / Heating Upgrade
50 - 80%
Kitchen Renovation
75 - 100%
Landscaping
25 - 50%
Exterior Paint
50 - 100%
Interior Paint
50 - 100 %
Adding a Swimming Pool
10 - 40%
Window / Door Replacement
50 - 75%
Roof Shingle Replacement
50 - 80%
Build a Deck
50 - 75%
Construct a Garage
50 - 75%
Build a Fence
25 - 50%
Install a Skylight
0 - 25%
Interlocking Driveway
25 - 50%
Asphalt Paving
20 - 50%
- Related Videos
- Related Articles
- Ask / Related Q&A
Things to Consider When Purchasing Delaware Granite
By: Ted Tellman | 02/01/2010http://www.ancientartstone.com is the premier provider of Delaware Granite. With over 500 slabs of granite in stock you are sure to find what you are looking for in our Delaware showroom at Ancient Art Stone.
Understanding the Cost of Carrara Marble Mosaic Subway Tile
By: James | 31/12/2009Carrara Marble cost can vary from $50SF in a retailer to $7.00SF online. What is involved in the cost of making Carrara Subway Tiles.
Basement Finishing
By: Ben Kaylor | 31/12/2009Read this article for ideas on basement finishing such as home offices, game rooms and bars. Turn your basement into an entertainment area.
Install Wood Floors
By: Ben Kaylor | 31/12/2009Read this article to learn about engineered, laminate and traditional wood floors.
How to Remodel a Master Bathroom
By: Terry Metcalfe | 31/12/2009If you are wondering how to remodel a master bathroom, there are many things that can be done to make the most out of a master bath. After awhile, you may begin feeling that your bathroom needs a little something extra, and a good remodelling project may be just the thing.
How to Remodel a Small Bathroom
By: Terry Metcalfe | 31/12/2009While it can be exciting to remodel a large bathroom, not everyone is blessed with a large bathroom space. For many people, the bathrooms in their homes are quite small, leaving them with the quandary - how to remodel a small bathroom.
How to Remodel a Bathroom
By: Terry Metcalfe | 31/12/2009If you know how to remodel a bathroom, you can enjoy a wonderful new bathroom, but if you don't know what you are doing, you may find yourself headed for a big disaster. The good news is that there are some simple steps for getting started that can get you going in the right direction.
Is It Time to Replace Your Windows?
By: Oswald Melman | 31/12/2009Did you know that windows usually make up about 10 percent of your house, but are usually responsible for 40-50 percent of the heat lost or gained? These numbers are important because they directly affect your wallet in two ways. First, properly maintaining your existing windows or replacing old and damaged windows will save you money on energy cost. Second, well maintained or brand new windows add value to your home, earning you thousands of dollars more when you decide to sell.
12 Fall Garden Clean Up Tips
By: Handy Man | 11/09/2008 | LandscapingNow that Summer is winding down and the kids go back to school, homeowners should now focus on preparing for the cold months ahead! Begin preparing for next spring by following these simple 12 tips to clean up and prepare for a lawn winter.
Prepare for a Lawn Winter Ahead - Fall Yard Care Projects
By: Handy Man | 11/09/2008 | LandscapingThe summer holidays are behind us, and the days are getting cooler - now is the perfect time to "think spring" when it comes to caring for your yard. The few extra hours you invest in your yard over the next month or two will pay off next spring and summer in the form of less work and a faster, better-looking lawn. Here are some yard care projects you can tackle now:
10 Tips to Ensure a Long Efficent Life From Your Air Conditioner
By: Handy Man | 08/09/2008 | DIYHere are 10 helpful, DIY tips to expand the life of our Air Conditioner and help it run more effeciently and effectively for your home, the environment and your wallet!
Myths and Facts of Air Conditioning
By: Handy Man | 08/09/2008 | Tools & EquipmentIf after making all the home adjustments you can to stay cool, but you just can't seem to beat the heat, an air conditioner will do the trick. Air conditioners aren't the most energy efficient solution to keeping cool, but an older model of an air conditioner can result in larger, unnecesary costs. Replace your old air conditioner with a more effecient one by contacting a Heating and Cooling Contractor today.
Keep Your Home Comfortable in Summer Heat
By: Handy Man | 07/09/2008 | Tools & EquipmentThe following is a basic checklist to prepare your home for Summer. Don't shut Summer out! Use the following checklist and tips to keep your home comfortable, cool, and running effeciently in the Summer months. Some items are best to leave to a professional to check. A Handyman or specialized Contractor will be able to offer help and additional information to prepare elements of your home for summer.
Top Ten Tips for a Healthy Home
By: Handy Man | 03/09/2008 | Wellness1) Declare your home a smoke-free zone Secondhand smoke can cause serious health problems, especially for children. Ask smokers to take it outside. 2) Good ventilation reduces indoor air pollution Leave doors between rooms open most of the time for better air circulation. Open windows when possible to allow for a good supply of outdoor air. Install exhaust fans in bathrooms to remove moisture and chemicals from the house. 3) Keep humidity levels low Use a dehumidifier or air conditioner, as n
How Clean is the Air in Your Home?
By: Handy Man | 03/09/2008 | WellnessThe need for clean air in our homes should not be underestimated. Canadians spend an average of 90% of their time inside; and our homes contain many substances that may be hazardous to our health. Indoor air pollutants range from minor irritants such as dust and animal dander, to major irritants such as molds and chemical vapours that may be emitted from building materials and furnishings. It is important to be aware of how air contaminants can affect our health and to adopt corrective measures