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10 Renovations With Big Returns

By: Bidmyreno Admin | Feb 16, 2016

Home Maintenance Repair Renovation


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What are the top 10 renovations that give you the most bang for your buck? Here's your answer:

1. Bathrooms

Renovators can get 90% to 105% of their bathroom money back when they sell their house. Adding an extra bathroom will get 81% to 85% back as well.

2. New siding

With a 90% to 100% return, re-siding your house is a great investment that will improve the curb appeal of your home! 

3. Painting

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.

4. Kitchen

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. 

5. Bedroom addition

Roughly, you can expect to get back about 83% if you add another room to your house.

6. Two-storey addition

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.

7. Family room addition

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.

8. Master suite addition

A new master suite recoups about 75% to 85% of the cost.

9. Deck

75% ROI for decks. Hey, we all love decks, so why the 25% depreciation? Weird.

10. Basement

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 across Canada.

Why not post your project on www.bidmyreno.com and let contractors bid on your project?