Jane Chen
Sales Representative

RE/MAX Realtron Realty Inc.
Brokerage
Independently owned and operated

Phone: 905-470-9800  Fax: 905-470-7770  Mobile: 416-418-9568

Will major Toronto home reno projects improve selling price?

April 21, 2010 - Updated: April 21, 2010

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


Tagged with: home reno secrets home reno tips home reno guides home reno info
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