Reovating your Kelowna home - check out payback value of home improvements

The Appraisal Institute of Canada has developed RENOVA, an interactive web-based guide to the value of home improvements. RENOVA is designed to give consumers a better idea of the return on investment they can expect for a variety of home improvements. RENOVA does this by providing a payback value range derived from the cost of the improvement expressed in dollars.

RENOVA is to determine, in the informed opinion of Canada's professional real property valuers, what effect home improvement projects have on the value of resale houses.

Be aware that RENOVA is a guide, which provides ranges. Home values and returns on renovation investments are dependent on so many factors such as the location of the property, i.e. province, rural/urban, the neighbourhood and notably important is the quality of workmanship and materials.

According to RENOVA the strongest reno paybacks returns are kitchen, bathroom reno's, iinterior and exterior painting. Weak $ links are whirl pool, tub and skylight reno installations.

Take a closer look at renovation expected % return:

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Basement Renovation
(50% - 75%)

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Bathroom Renovation
(75% - 100%)

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Install Central Air Conditioning
(25% - 75%)

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Recreation Room Addition
(50% - 75%)

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Install a Fireplace
(50% - 75%)

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Flooring Upgrade
(50% - 75%)

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Furnace/Heating System Upgrade
(50% - 75%)

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Kitchen Renovation
(75% - 100%)

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Landscaping
(25% - 50%)

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Exterior Paint
(50% - 100%)

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Interior Paint
(50% - 100%)

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Install A Swimming Pool
(0% - 25%)

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Window/Door Replacement
(50% - 75%)

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Roof Shingle Replacement
(25% - 75%)

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Build a Deck
(25% - 75%)

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Construct A Garage
(50% - 75%)

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Build a Fence
(25% - 50%)

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Install a Skylight
(0% - 25%)

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Interlocking Paving
(25% - 50%)

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Asphalt Paving
(25% - 50%)

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Exterior Siding
(50% - 75%)

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Concrete Paving
(25% - 75%)

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Install Home Theatre Room
(25% - 50%)

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Interlocking Brick (Walkways)
(25% - 50%)

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Installing a Whirlpool Tub
(0% - 50%)

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CHECK OUT:
http://component.aicanada.ca/e/resourcecenter_renova.cfm


Thinking of selling your home and need an opinion of what might you do, for your home and location, to max on dollar spent to prep your home for a timely sale - my pleasure to assist:
june@juneconway.com OR 250.317.3136