homeimprovements

Real Estate with a Touch of Newfoundland Warmth!

Which Home Improvements Pay Back?

All home improvements are not created equally!

When it comes to resale value, your remodeling investment is not always recouped at 100%. Below is a list of typical home renovation projects and what you can expect, on average, as a payback* for your time, money, and effort.

Project	Average Payback at Resale
Add a new heating system	100%
Add central air conditioning	75%
Minor kitchen remodeling	94% to 102%
Major kitchen remodeling	90%
Add a bathroom	92%
Add a family room	86%
Remodel a bathroom	77%
Add a fireplace	75%
Build a deck	73%
Remodel the home office	69%
Replace windows	68% to 75%
Install a pool	44%
Install or upgrade landscaping	30% to 60%
Finish the basement	40%

Other Factors That Affect Payback Values

The real estate market
Payback values depend heavily on the real estate market and prevailing property values. If the market is slow, expect to see less payback than you would in a hot market.

Neighbourhood

If you remodel your home to twice the size of other comparable homes on the block, it is unlikely you will be able to sell your home at double the price. Market values of neighbourhoods and streets are calculated on overall sales, not just your home.

Depreciation

Home renovations done 5-10 years ago may have little or no value.

*Compiled from several published surveys.