By: Bidmyreno Admin | Feb 16, 2016
With a 90% to 100% return on what you spent residing your house, it's a great investment to improve the curb appeal of your home!
If you're preparing to sell your home, you can't go wrong with lighter, more neutral colors. Plus, it's one of the least expensive ways to spruce up the interior -this is a guaranteed return on investment.
Although the really expensive jobs tend to recoup less of their cost, a new or updated kitchen usually fetches between 80% to 90% of what you spent on it.
Roughly, you can expect to get back about 83% if you add another room to your house.
A two-storey addition gives you a return on investment of about 78%, which basically means that it's not likely to make you money in the short term (if you're selling) unless you think it will at least help sell an expensive house.
Additions are expensive, which makes it hard to re-coup the full value. Family rooms return 75% to 85% of the cost. Not bad if you get some great use out of it before you sell.
A new master suite recoups about 75% to 85% of the cost.
75% ROI for decks. Hey, we all love decks, so why the 25% depreciation? Weird.
Although it easily increases your livable square footage, you can "only" recoup about 70% of the cost of a finished basement. Don't forget that bathrooms in basements can add to your tax bill.
Are you making some of these renovations? Check out our professional contractors located everywhere across Canada. Why not post your project on www.bidmyreno.com and let contractors bid on your project?
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