Whether you’re renovating to meet your changing needs or trying to improve the overall look of your home, it never hurts to consider what the return on your design investment will be.
According to yearly surveys done by the Appraisal Institute of Canada (AIC), refurbished kitchen and bathrooms continually yield the best return on investment, with 75 to 100 per cent of spending for these renovations recovered at resale. Interior painting, a new roof or heating system and a finished basement also ranked high (see full list below).
Of course, a high return on investment is only possible if the renovation is done tastefully, adheres to local building codes, and is in line with current trends.
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Whatever your reason for updating your home, Monarch designers can help. Working with you from conception to completion, our customized design services include complete project management and the use of licensed, insured and bonded tradespeople. In addition, we offer three lines of custom cabinetry covering a range of budget options perfect for your house, condominium or cottage.
Percentage of investment recovered upon resale:
Kitchen upgrade: 75% to 100%
Bathroom upgrade: 75% to 100%
Interior painting: 50% to 100%
Roof replacement: 50% to 80%
Replacement of furnace or heating system: 50% to 80%
Expansion (addition of family room): 50% to 75%
Doors and windows: 50% to 75%
Deck: 50% to 75%
Installation of hardwood floor: 50% to 75%
Construction of a garage: 50% to 75%
Fireplace (wood or gas) 50% to 75%
Central air conditioning: 50% to 75%
Finished basement: 50% to 75%
Wood fence: 25% to 50%
Interlocking paving stones on driveway: 25% to 50%
Landscaping: 25% to 50%
Asphalt driveway: 20% to 50%
Pool: 10% to 40%
Skylights: 0% to 25%