Have you decided that this is the year you’re going to redo the kitchen, build an additional bathroom or install hardwood flooring? Whether your renovating for yourself or getting your home ready for selling, it’s always nice to know what the return on investment will be for your project. Check out the lists below put together by the Appraisal Institute of Canada RENOVA, and Royal LePage, for an idea of what you can expect.
Top do-it-yourself renovations with best return on investment
| RENOVATION PROJECT | APPROXIMATE COST* | APPROXIMATE ROI** |
| Paint the interior | $1,000 | 50-100% |
| Replace carpeting with affordable laminate | $2,000 (for 1,000 square-foot space) | 50-75% |
| Install new light fixtures | $2,000 | 60-70% |
| Groom the exterior landscape | $2,000 | 25-50% |
| Replace knobs and hardware | $2,000 | 75-100% |
| Update the entryway | $3,000 | 50-75% |
| Replace carpeting and laminate floors with hardwood | $5,000 (for 1,000 square-foot space) | 50-75% |
| Build a fence/deck | $5,000 | 50-75% |
Renovations with best return on investment; professional help may be required
| RENOVATION PROJECT | APPROXIMATE COST* | APPROXIMATE ROI** |
| Install an additional bathroom on main floor | Under $5,000 | 80-100% |
| Renovate bathrooms | $5,000 – $8,000 | 75-100% |
| Renovate kitchen | $12,000 – $15,000 | 75-100% |
*Assumes mid-grade quality finishes, labour excluded
** Source: Appraisal Institute of Canada RENOVA, Royal LePage