Best Return on Investment for Renovations

It’s almost back-to-school time (Woo hoo! Oh, did I say that out loud?). For those who are thinking of selling this fall, it’s also time to think about what renovations to do to get ready to sell.

Remodelling’s Cost vs. Value Report in the States comes out every year. For 2015, steel entry door replacement tops the list at 101% of a return on investment, followed by manufactured stone veneer (92%), fibre-cement siding replacement (84%), garage door replacement (82-88%), and both decks and vinyl siding replacement (80%).

Bathrooms (58-72%), and kitchens (59-79%) are always good bets, especially if they look dated. Painting things a fresh light colour is another quick thing to do to get a home ready to sell with a high return on investment.

Landscaping, additions and remodelling, home offices, driveways, new fencing, swimming pools, and skylights are all great to do for personal reasons but represent the lowest payback potential.

Keep the house as a whole in mind. Take a good look with your Realtor, sometimes it helps to see things with someone new. Are there any repairs that need doing that stand out? Is there a cracked driveway, or shingles missing on the roof, do you need to do weeding, or clean the windows, are their holes in the wall, or chips in the paint? There may be little things that make a huge difference. Talk to your Realtor about the best use of your money.

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