Renewing, renovating and remodelling your home can go a long way in giving your home the appeal it needs to boost its value to buyers. In todays market, Buyers are attracted to properties that are up to date and require little work, deciding to buy homes that they can simply move into and live. It's also easier for them to pay a bit more and incorporate it in their mortgage, rather than take on a renovation project after they close. Whether you decide to freshen up your paint or put in a new ensuite bath, review the list below to determine which projects will give you the best return on your investment.
This list is for information purposes only and is only intended to give you an idea what you can expect various projects to cost and what your return on investment (ROI) may be.
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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
Interior remodeling costs (est.)†
Electrical Systems
Upgrade of main service to:
| 100 amps |
$1,500 - $1,800 |
| 200 amps |
$2,500 - $2,800 |
| 200 amps (with existing underground) |
$1,300 |
| 400 amps |
$5,000+ |
| 16 circuit auxiliary panel |
$350 - $450 ea. |
| electrical permit (major work) |
$150+ |
Plumbing Systems
Kitchen
| sink & faucets |
$600+ ea. |
| dishwasher connection |
$275 ea. |
| garberator |
$600+ ea. |
Bathrooms
| whirlpool bath/faucets |
$2,200+ |
| bathtub/faucets |
$900+ |
| shower connection with shower head |
$200+ |
| toilet |
$400+ |
| wash basin/faucets |
$350+ |
| pedestal sinks/faucets |
$400+ |
| pre-formed shower enclosure |
$1,400 - $1,900 |
| ceramic tiles to existing tub enclosure |
$1,500+ |
Heating, Ventilation & Air Conditioning Systems (HVAC)
Forced Air System
| high-efficiency gas furnace |
$3,700 |
| installation of air ducts (new) |
$8,000+ |
| installation of air ducts (retrofit) |
$10,000+ |
| to metal line existing chimney |
$600+ |
| air duct cleaning |
$275+ |
| hot water gas boiler |
$3,500 - $4,400 |
| hot water gas "high - efficiency" boiler |
$7,000 |
| circulating pump |
$600 |
Air Conditioning/Heat Pumps
| window units: 12 BTUH |
$800 |
| ductless systems |
$4500 |
| central A/C unit using existing ducts (2 tons) |
$3,200+ |
| central A/C unit using existing ducts (3tons) |
$4,000+ |
| heat pump (2 tons) |
$4,500 |
| heat pump (3 tons) |
$5,500 |
Thermal Insulation (Retrofit)
| to add R-20 (6") of loose insulation (700sq. ft.) |
$750 |
| to add R-32 (10") of loose insulation (700sq. ft.) |
$950 |
| wall/roof cavities |
$2 - $2.50/sq. ft. |
Fireplaces
| masonry fireplaces |
$5,500+ |
| factory-built fireplaces |
$2,500 - $3,500 |
| wood stoves |
$2,000 - $3,500 |
| fireplace inserts |
$700 - $1,200+ |
General Interiors
| interior doors/hardware/jamb |
$320 ea. |
| baseboards/door & window casing |
$3+/lin. ft. |
| walls (ie. insulation, vapour barrier, drywall tape) |
$3.50/sq. ft. |
| painting (3 coats) walls |
$1.50/sq. ft. |
| kitchen cabinets/counter tops |
$300+/lin. ft. |
| intercom system (retrofit) |
$1,200+ |
| central vacuum (retrofit) |
$1,200+ |
Stairs/Railing
| oak circular stair |
$5,000+ |
| carpet grade circular stair |
$3,000 |
| standard oak staircase |
$2,500+ ea. |
| standard carpet grade staircase |
$1,500 ea. |
| stair railings |
$100+/lin. ft. |
Floor Coverings
| sheet vinyl |
$8+/sq. ft. |
| 12"x12" P.V.C. tiles |
$4/sq. ft. |
| carpet+ underpad |
$6+/sq. ft. |
| laminate flooring |
$6/sq.ft.+ |
| finished subfloor |
$3/sq. ft. |
| oak, maple |
$10+/sq. ft. |
| parquet flooring |
$7/sq. ft. |
| hardwood floor refurbishing |
$2.50-$4/sq. ft. |
| ceramic floor tile |
$16+/sq. ft. |
Security Systems
| wireless motion detectors |
$500 |
| wired system |
$1,300+ |
Basements
| underpinning |
$250+/lin. ft. |
| lowering basement floor (bench method) |
$200+/lin. ft. |
| recreation room remodeling |
$50+/sq. ft. |
| to construct basement apartment |
$100 sq. ft.+ |
| to construct separate basement entrance |
$10,000 ea. |
| excavation/waterproofing exterior foundation |
$20/sq. ft. |
Exterior remodeling costs (est.) †
Exterior Doors
| steel insulated doors |
$700+ ea. |
| solid wood doors |
$900+ ea. |
| 6' aluminum patio doors |
$1,500+ ea. |
| 6' wood patio door |
$1,800+ ea. |
| aluminum storm door |
$450+ ea. |
Roofing Systems
Sloped Roofs
| asphalt shingles |
$2.50/sq. ft. |
| low sloped asphalt shingles |
$3.50/sq. ft. |
| cedar shakes |
$13/sq. ft. |
| cedar shingles |
$11/sq. ft. |
| slate tiles/steel roofing |
$15+/sq. ft. |
| clay/concrete tiles |
$7 - $10 |
Flat roofs
| 4-ply (tar and gravel) |
$8 - $10/sq. ft. |
| single-ply membrane |
$7 - $9/sq. ft. |
| rolled asphalt ( 90lb ) |
$2.50 - $3.50/sq. ft. |
Wall Siding
| aluminum siding |
$6/sq. ft. |
|
cedar siding
|
$6 - $8/sq. ft |
| asphalt shingles |
$2.50/sq. ft. |
| vinyl siding |
$5/sq. ft. |
| stucco (cement) |
$15+/sq. ft. |
| brick (veneer) |
$15+/sq. ft. |
Eaves Upgrading (Aluminum)
| eaves troughs/downpipes (5") |
$6 - $7/lin. ft. |
| fascia (6") |
$5/lin. ft. |
| soffit (16") |
$6/lin. ft. |
| remove existing eaves troughs |
$1/lin. ft. |
Fences
| pressure treated lumber (5' high) |
$25/lin. ft. |
| cedar (5' high) |
$35/lin. ft. |
| chain link (4' high) |
$12/lin. ft. |
Decks
| pressure treated |
$25/sq. ft+ |
| cedar |
$30/sq. ft+ |
| custom designed & built |
$35/sq. ft+ |
| wood patio/roof deck |
$20/sq. ft+ |
Patios
| interlocking brick/stone |
$12 - $14/sq. ft. |
| stamped concrete |
$10/sq. ft. |
| patio stones |
$4/sq. ft. |
| wood decking |
$8+/sq. ft. |
| flagstone/field stone |
$20/sq. ft. |
Skylight/Roof Windows
| 2'x4' skylight on a flat roof (incl. interior finishing) |
$3,300+ |
| 2'x4' skylight on a sloped roof (incl. interior finishing) |
$4,000+ |
| 2'x4' roof window (including interior finishing) |
$3,300+ |
Window Replacement
| wood/vinyl windows |
$75+/sq. ft. |
| aluminum windows |
$55+/sq. ft. |
| aluminum storm windows |
$150 - $250 ea. |
| aluminum porch enclosures |
$15+/sq. ft. |
| fixed thermal glass (existing frames) |
$20/sq. ft. |
Driveways/Walkways
| interlocking brick/stone |
$12 - $14/sq. ft. |
| stamped concrete |
$10/sq. ft. |
| asphalt paving (using existing base) |
$3/sq. ft. |
| asphalt paving (with installation of new base) |
$5/sq. ft. |
Landscaping
| top soil and sod |
$2/sq. ft. |
| tree removal |
$1,800+ ea. |
| 6"x 6" pressure treated retaining walls: below grade (per piece) |
$15/lin. ft. |
| 6"x 6" pressure treated retaining walls: above grade (per piece) |
$10/lin. ft. |
Garages
| removal of existing garage |
$3,000 |
| detached carport |
$6,000 |
| detached wood frame 1-car |
$17,000+ |
| detached wood frame 2-car |
$22,000+ |
Swimming Pools
16'x32' with 3' perimeter walkway:
| vinyl lined |
$25,000+ |
| concrete lined |
$40,000+ |
| pool heaters |
$2,000 |
| pumps/filters |
$1,200 |
| seasonal opening/closing maintenance |
$200 - $350 |
| 6' x 8' fiber glass hot tub |
$6000+ |
†Estimates include the supply and installation of average-quality building materials using professional workmanship.
Source: Estimating & Budgeting Guide: Typical Costs of Residential Construction and Home Remodeling. The CanadianBuilding Consulting Group Inc., 2007.
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