Before you Renovate... {Winnipeg Real Estate Tips}

(May 29, 2012 , posted in Tips on Tuesday)

Are you thinking about doing a few renovations before listing your home? Might be a good to find out if paying for that new backsplash will really be worth it. Check out these interesting stats from the Canada Mortgage and Housing Corporation, which details typical payback range of various renovation projects.

The CMHC's TOP FOUR GREATEST PAYBACK POTENTIALS (% of your money back)
Bathroom Renovations (75-100%)
Kitchen Renovation (75-100%)
Interior Painting (50-100%)
Exterior Painting (50-100%)

TEN AVERAGE PAYBACK POTENTIALS
Roof shingle replacement (50 – 80%)
Furnace/heating system (50 – 80%)
Basement renovation (50 – 75%)
Recreation room addition (50 – 75%)
Installing a fireplace (50 – 75%)
Flooring (50 – 75%)
Constructing a garage (50 – 75%)
Window/door replacement (50 – 75%)
Building a deck (50 – 75%)
Central air conditioning (25 – 75%)
Information provided by the Appraisal Institute of Canada, 2006 courtesy of CMHC.ca

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