Harrison Bowker puts out a great document every year in regards to Home Renovation Value, you can find a few tips from this guide here. You can download the full guide by clicking the link at the bottom of the page.
It’s hard to put an emotional value on a home renovation. How do you accurately assess your feelings of joy, exhaustion, relief and excitement after you transform that dreaded 70s kitchen to a gourmet masterpiece? That being said, it is not difficult to put a monetary value on your home renovation; those granite countertops, upgraded flooring and new windows – they all add up.
This guide explains the return on investment that you can expect from different types of home renovations. Using this information, you can plan the most effective use of your renovation dollars, no matter what you’re renovating.
ABOUT THE NUMBERS
All prices and value contributions you see here are based on:
• 3-bedroom/2.5-bathroom home in average condition
• Fully finished basement
• 6,000 sq. ft lot
• Middle-income neighbourhood
• Home has front and rear doors and a rear patio door
• Approximately 11 windows (8 on main, 3 in basement)
The costs assume professional installation of average or better quality materials at fair market prices. The rates of return do not assume any sweat equity by the owner. Contractor pricing can easily vary by 50–150%, depending on economic conditions, seasonal variances, material costs and contractor motivation. Therefore, individual rates of return will most likely vary from project to project and season to season as the real estate market changes.
Download the full Guide Here