Do Major Toronto, GTA, Scarborough, North York or East York home reno projects boost selling price?

Home renovation projects almost always cost more than they return in increased home value. According to the NAR (National Association of Realtors} for every $1,000 homeowners spend on reno projects they get back $638. Here is the average return per $1000 on typical reno projects:

- Heavy insulated steel entry door - $1,289

- Finish an attic bedroom - $831

- Remodel kitchen or bathroom - $710-$720

- Remodel a home office - $481

- Buy a backup power generator - $589

Some renovations actually reduce the resale value of a home - for instance, in some cases turning a bedroom into a home office.

Sources: Yahoo Finance, RealtorMag, Forbes.com renovations, selling tips, investment, home repairs, remodeling

Joann Visaretis

Joann Visaretis

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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