Before you start incurring renovation expenses, be sure you know why you are renovating. Is it for your own long-term enjoyment or are you planning to sell? Your priorities will be different depending on your reasons. You may want to check out this interesting, interactive tool I have come across. It is kind of fun and quite informative.
The Appraisal Institute of Canada's RENOVA website has developed RENOVA, an interactive web-based guide to the value of home improvements. RENOVA is designed to give consumers a better idea of the return on investment they can expect for a variety of home improvements. RENOVA also ranks the renovation trends, in terms of which provided the highest payback potential.