Thinking of renovating to take advantage of the federal government tax credits for home improvements? Ensure you're making the right renovations or upgrades that will help increase the value of your home. Here are some renovations that Remax has identified to maximize the resale value of your home.
A bathroom renovaton will net you a 56% better return.
New flooring will net you a 22% better return.
Painting will net you a 29% better return.
Kitchen renovations will net you a 44% better return.
Landscaping will net you a 7% better return.
One thing you should be aware of is to make sure the renovation you are considering will match the value of properties in your neighbourhood. For example, you don't need to be putting granite counters in your kitchen and bathrooms, if the value of the homes in your neighbourhood don't support those kinds of upgrades. Make sure the finishings you choose will match your surroundings. If you're unsure, obtain the opinion of a realtor, a friend, or even the sales representative at your supplier.