Whether you are looking to buy a fixer-upper or renovate your existing home to improve the quality of life for you and your family, it’s worthwhile to understand which home renovations can help boost the value of your home and go straight to your bottom line. According to the Appraisal Institute of Canada (AIC), the top four renovations with the highest return on investment (ROI) include:
Of course it’s also important to budget for those renovations that are necessary just to maintain your home’s worth. According to the AIC, it’s essential to replace the roof, update heating/cooling systems and replace windows/doors as they near the end of their life expectancy. The AIC also lists finishing the basement, garage improvements, sun rooms and other additions, decks and fences, and landscaping as the top renovations that generally offer the highest enjoyment value.
If you’re thinking renovation, let’s talk. I can help you finance your reno so you can maximize your bottom line and personal home enjoyment. If you’re buying and planning immediate renovations, I can bundle the cost of your planned renos right into your mortgage: so instead of sky-high credit card and line of credit bills, you’ll have your mortgage and renovations looked after in one easy monthly payment.