Whether we're talking new plumbing fixtures, new flooring or new kitchen cabinets, a suitable renovation can improve your home, as well as increase its value.
Updating a kitchen or bathroom may require a trained professional, but there are many projects accessible to the do-it-yourselfer, according to the Royal LePage Renovations and Returns survey.
According to Statistics Canada, renovation spending grew by 8.3 per cent in the fourth quarter of 2007 to $9.2 billion, from the same period in 2006.
Explored within this survey are renovations that are intended to translate directly into enhanced equity in a property. Some of the renovation suggestions, ranked in ascending order of project cost, include:
Freshen up your house by adding a new coat of paint. If you're planning on selling soon, stick to neutral colours.
Take a look at your floors, and consider installing hardwood or laminates, which are becoming increasingly popular with buyers.
Consider new light fixtures and modernize by installing modern electrical and new light switch cover plates.
Clean and tidy your yard and lawn to improve curb appeal of your property.
Sleek, stainless steel hardware such as kitchen exhaust hoods and the addition of new backsplash can enhance the modern look of your kitchen.
An elegant entrance foyer is a prospective buyer's first impression of the house.
While more extensive projects will cost more, these renovations can also bring high returns when it comes to you eventually selling your home. Updated kitchens, for example, can bring one of the highest returns on your investment.
-- Canwest News Service
