Did You Know?....

That Renovations pay for themselves!

Over time, some renovations can practically pay for themselves, especially if
they result in savings on utility bills or a higher selling price. Here are some
additional payback ranges, according to the Appraisal Institute of Canada:   

• Finished Basement: 50 – 75%
• Interior Painting: 50 – 100%
• Exterior Painting: 50 – 100%
• Main Floor family Room: 50 – 75%

The twenty most frequent renovation projects were:

Top four greatest payback potentials Bathroom renovation (75-100%)      Kitchen renovation (75-100%) Interior painting (50-100%) Exterior painting (50-100%)

Ten average pay back potentials Roof shingle replacement (50-80%) Furnace/heating system (50-80%) Basement renovation (50-75%) Recreation room addition (50-75%) Installing a fireplace (50-75%) Flooring (50-75%) Constructing a garage (50-75%) Window/door replacement (50-75%) Building a deck (50-75%) Central air conditioning (25-75%)

Six lowest payback potentials Landscaping (25-50%) Interlocking paving (25-50%) Building a fence (25-50%) Asphalt paving (20-50%) Adding a swimming pool (10-40%)   Installing a skylight (0-25%) courtesy: Appraisal Institute of Canada

Renovation, Step By Step

From the first idea to the finished project, there's a great deal to think about when you decide to renovate. By following the eight steps listed below, you'll make sure you have answers to all the important questions, and have a well-laid plan for getting the job done.

Before You Renovate…

Why Renovate? Everyone has a different reason for wanting to renovate. Sometimes it's the simple need for a change. Other times, the motivation is more practical. If you wake up one day with a puddle in the basement and a water-stained ceiling, you know you have to act fast.   From the planning stage to the final touches, this guide shares our experience and knowledge with you. And it tells you about some of the first-rate resources we've developed to deal with all kinds of renovation issues. In general, there are three types of renovation: lifestyle, retrofit, and maintenance and repair.   Lifestyle renovations improve your home­ and your way of life. They might involve building a sun room for pleasure, or converting unused attic space into living quarters to meet your changing needs. Retrofit projects usually focus on your home's shell or mechanical systems. Examples are upgrading your insulation, replacing your furnace, or putting on new siding. Maintenance and repair renovations protect the investment you have made in your house through activities such as caulking windows, reshingling your roof, or replacing your eavestroughs.             Key Questions Before You Start Is Your Renovation Practical? Your Money's Worth?   Is your Renovation Adaptable?   And Healthy? A successful renovation can be a dream come true, but without careful planning and management, it can be a nightmare. Be informed. Before you pick up a hammer, pick up a book or a video on home renovation. Talk to friends and neighbours who've renovated. Explore all the options, and remember the carpenter's creed: measure twice, cut once. Mistakes on paper are easy to fix­ and inexpensive. Mistakes on the job are not. The following questions will help make sure you're heading in the right direction.

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