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Home Renovation Return on Investment Guide
Considering renovations to your home prior to selling? Check out this 2019 Home Renovation, Return on Investment Guide provided by Harrison Browker Valuation Group.
| *Based on a 3 bedroom home, fully finished basement, 6000sqft lot, middle-income neighbourhood, home with front and rear doors and rear patio door, Approximately 11 windows. The costs assume professional installation however Contractor pricing can vary. Individual rates of return will vary from project to project and as the real estate market changes. | ||
| Top Renovations | ||
|---|---|---|
| Kitchen | Best return on investment when considering functionality | |
| Paint | Least expensive renovation with the best return – home interior | |
| Asphalt roof | Best return – home exterior | |
| Tank-less on-demand water heater | Best return – electrical, mechanical, plumbing | |
| Fence (pressure treated) | Best return – landscaping | |
| Double-detached garage (heated) | Best return – garages, sunrooms, additions | |
| Top 5 Renovation Regrets | ||
| Not having a well-planned design and a reasonable time frame. | ||
| Not budgeting for unforseen costs or changes to the plan. | ||
| Not getting a complete quote in writing or having a full understanding of the quote given. | ||
| Not hiring a professional for jobs that require the expertise. | ||
| Not planning renovations in terms of resale. | ||
| Home Interiors | ||
| Renovation | Cost Range | % Return |
| Interior Painting | $3000-$5000 | 80-110% |
| New Flooring | ||
| Hardwood | $9-$13/sqft | 60-80% |
| Laminate | $5-9/sqft | 60-80% |
| Ceramic Tile | $7.50-8.75/sqft | 60-80% |
| Porcelain Tile | $9-11/sqft | 50-65% |
| Slate | $13-14/sqft | 50-65% |
| Carpet & Pad | $2.75-4.50/sqft | 60-80% |
| Sheet Vinyl | $2.75-4.50/sqft | 60-80% |
| Luxury Vinyl Tile (LVT) | $3.75-7.50/sqft | 60-80% |
| Cork | $7.50-10/sqft | 25-45% |
| Removal and Disposal | $.25-.50/sqft | |
| Remodel 4pc Bathroom | ||
| New fixtures, vanity, tub, shower & flooring | $10,000-20,000 and up | 50-75% |
| Remodel Kitchen- Cabinets, flooring, countertop, appliances and lighting | ||
| Average quality | $15,000-$30,000 and up | 75-95% |
| High quality | $40,000-70,000 and up | 40-60% |
| Basement Redevelopment | ||
| Drywall finish, paint, 3 piece bathroom, 2 bedrooms, family room, carpet, vinyl, drop ceiling tile | $35,000-50,000 | 50-75% |
| $30-45/sqft | ||
| Gas Fireplace | ||
| Average Quality | $2,500-5,000 | 45-70% |
| High Quality | $5,000-$10,000 | 25-50% |
| Seniors Walk-In Tub | $7500+ | 0-25% |
| Home Exteriors | ||
| Renovation | Cost Range | % Return |
| Siding | ||
| New Stucco Application | $17,000-21,000 | 25-45% |
| Premium Vinyl Siding | $10,000-12,000 | 50-75% |
| Standard Vinyl Siding | $8,000-10,000 | 50-75% |
| Hardieplank | $11,000-13,000 | 50-75% |
| Artificial Masonry/Cultured Stone | $12-15/sqft | 25-45% |
| Brick Façade | $35-40/sqft | 20-35% |
| Soffits & Fascia | $4,000-$6,000 | 25-45% |
| 5″ Seamless Eavestroughs | $7-9/ft | 25-45% |
| 6″ Seamless Eavestroughs | $11-15/ft | 25-45% |
| Roof | ||
| Asphalt (25-30 years/ $3-4/sqft) | $4,000-5000 | 75-95% |
| Rubber (50 years/ $6-8/sqft) | $8,000-9000 | 50-75% |
| Cedar Shakes (30-40 years/ $5-10/sqft) | $15,000-20,000 | 50-75% |
| Metal (50 years/ $9-13/sqft) | $15,000-20,000 | 50-75% |
| Reinsulate attic | $1,400-1500 | 25-35% |
| Standard Doors (Single) | ||
| Exterior (basic insulated, metal clad, embossed panels, half moon window) | $1,500-2,000 | 50-75% |
| Interior (hollow core) | $300-600 | 50-75% |
| Deluxe Doors (Single) | ||
| Exterior (including upgraded hardware and sidelights) | $3,000-4000+ | 50-75% |
| Interior | $600-1,000 | 50-75% |
| Replace Sliding Patio Door- PVC (72″x 80″) | $1,500-2,500 | 50-75% |
| Windows | ||
| Double Pane, Vinyl Casement, 1 Bay | $10,000-13,000 | 75-90% |
| Low-E, Triple Pane, Vinyl Casement, 1 Bay | $11,000-14,000 | 75-90% |
| Skylight (Basic) | ||
| Triple Glaze, Standard Roof | $800-1,500 | 15-30% |
| Solar Tubes (New Install) | $700-1,000 | 15-30% |
| Electrical, Mechanical & Plumbing | ||
| Renovation | Cost Range | % Return |
| Central Vacuum | $1,300-1,500 | 30-60% |
| Alarm System | ||
| Monthly Monitoring | $25 and up | 0-10% |
| Hot Water Tank | ||
| Mid-efficiency, natural draft (40-50 imperial gallons) | $1,000-1,200 | 50-75% |
| High-efficiency, power direct vent (40-50 imperial gallons) | $1,500-2,000 | 60-80% |
| Tankless On-Demand | $8,000-10,000 | 65-85% |
| Water Treatment | ||
| Water Conditioner | $2,300-4000 | 25-50% |
| Reverse Osmosis Drinking System | $1,500-2,000 | 25-50% |
| Soffits & Fascia | $4,000-6,000 | 25-45% |
| HVAC | ||
| Air Conditioning | $3,000-6,000 | 40-60% |
| New Furnace (high efficiency) | $5,000-8,000 | 80% |
| Geothermal Retrofit (with furnace) | $30,000+ | 25-40% |
| Electrical Service Upgrade | ||
| 60-100Amps | $5,000-6,000 | 40-60% |
| Solar Panel Retrofit (rooftop) | $15,000-30,000 | 40-70% |
| Plumbing Lines (Copper to Pex) | $3,000-6,000 | 25-50% |
| Garages, Sunrooms, Additions | ||
| Renovation | Cost Range | % Return |
| New 24’x24′ Double Detached garage (heated, insulated, slab) | $25,000-35,000 | 60-80% |
| New 24’x24′ Garage with Secondary Suite | $125,000-175,000 | 40-60% |
| Renovate Older 24’x24′ garage with new insualtion, drywalll, insulated garage door & heater | $8,000-12,000 | 25-40% |
| New 3-season 10’x15′ Sunroom Addition | $15,000-25,000 | 50-75% |
| New 4-season 10’x15′ Sunroom Addition | $25,000-35,000 | 50-75% |
| 300sqft Family Room Addition (no basement, vaulted ceilings, gas fireplace, hardwood flooring, exterior to match) | $60,000-90,000 | 30-50% |
| Landscaping | ||
| Renovation | Cost Range | % Return |
| Ponds, Fountains, & Rocks (Wide Variance) | (varies widely) | 10-30% |
| Driveways & Hard Surfaces | ||
| Remove/Repour Concrete | $12-14/sqft | 25-45% |
| Replace Concrete With Paving Stone or Brick | $18-20/sqft | 10-50% |
| Add Stamped or Exposed Aggregate Finish | $3-4/sqft | 10-20% |
| Raised Deck 12’x20′ (Screw Pile Foundation) | ||
| Pressure Treated Wood | $40/sqft | 50-75% |
| Cedar | $45/sqft | 50-75% |
| Composite | $75-85/sqft | 50-75% |
| Vinyl | $75-85/sqft | 50-75% |
| Railing (Aluminum) | $45-50/ft | 50-75% |
| Railing (PVC) | $75/ft | 50-75% |
| Pergola (Cedar) | $20-28/sqft | 0-25% |
| Pergola (Maintenance Free) | $75/sqft | 0-25% |
| Underground Sprinkler System (Front & Back) | $4,000-5,000 | 20-50% |
| Fencing & Curbing | ||
| Pressure Treated Wood (6′) (add gate $250+/-) | $38-45/linear ft | 60-75% |
| Ornamental Aluminum (4′) | $35-45/linear ft | 50-75% |
| Vinyl (6′) | $45-55/linear ft | 50-75% |
| Chain Link (Galvanized or Coated) (6′) | $12-25/linear ft | 50-75% |
| Concrete Curbing | $5-8/sqft | 10-25% |
| Tree Removal (eg 35′ Spruce Tree) | $700-800 | 0-10% |
| Sod Replacement | $2-3/sqft | 25-50% |
| Outdoor Hot Tub Jacuzzi | $7,000-10,000 and up | 5-40% |
