Why not do a home renovation project that allows you to live better now and make your home more saleable later? Think cost-effective improvements that enhance curb appeal or boost energy efficiency.
The Appraisal Institute of Canada compared typical costs for renovations versus the impact on a home’s selling price to come up with a “payback range” for common projects.
Bathroom reno: 75% to 100%
Kitchen reno: 75% to 100%
Installing a deck: 25% to 75%
Exterior siding: 50% to 75%
Flooring upgrade: 50% to 75%
Basement reno: 50% to 75%
An Invis mortgage professional can introduce you to your renovation financing options, to get you started on making the most of your home.
Source: AIC RENOVA interactive guide to the value of home improvements: www.aicanada.ca.