Ren­o­va­tions and pay­backs

The Telegram (St. John’s) - Home Buyers' Guide - - NEWS -

Nearly half of Cana­dian home­own­ers have ren­o­vated their homes in the past two years, ac­cord­ing to re­sults from a CIBC home own­er­ship poll. On aver­age, home­own­ers who ren­o­vated spent ap­prox­i­mately $12,000 on their ren­o­va­tions, and ex­pect that these ren­o­va­tions added just over $17,000 to the re­sale value of their home. Ac­tual pay­back is only re­al­ized when you sell your home and is con­tin­gent on many vari­ables such as lo­ca­tion, work­man­ship and ma­te­ri­als used for your ren­o­va­tion project. Listed are some projects and per­cent­age pay­back from orig­i­nal cost:

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