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Selling Your Home - Return On Renovations
 

One rule seems to apply in all cases: avoid projects that will set your house apart from the properties in your neighbourhood. The Appraisal Institute of Canada posts this warning on its website: “If the value of your house exceeds the average market value in your neighbourhood, your renovations will not yield much return.  But if your house value is below the average , you can recover a larger part of the renovation costs.”

Also bear in mind that the amount spent on renovation projects should not be relative to the value of the dwelling: A $30,000 remodelled bathroom does not belong to a $100,000 house.

Selling Your Home - Return on Renovations


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