REMODELLING YOUR NORTH VANCOUVER HOME BEFORE SELLING COST VS. VALUE
Lately, clients have been asking what type of renovation will bring me the best return when selling. To answer this question I referred to the 2010-2011 Remodelling Cost vs. Value Report. This report is produced every year by Remodelling Magazine and it examines which renovations give the highest return when the home is sold. Although the publication is American based the information below pertains to the Pacific Northwest and, therefore, should be applicable to Vancouver. Here are the results:
|
Project
|
Job Cost
|
Resale Value
|
Cost Re-couped
|
|
|
|
|
|
|
Entry Door Replacement (steel)
|
$1,464
|
$1,641
|
112.1%
|
|
Garage Door Replacement
|
$1,514
|
$1,461
|
96.4%
|
|
Deck Addition (wood)
|
$13,827
|
$11,956
|
86.5%
|
|
Minor Kitchen Remodel
|
$23,603
|
$19,854
|
84.1%
|
|
Window Replacement (wood)
|
$14,431
|
$12,016
|
83.3%
|
|
Basement Remodel
|
$78,828
|
$65,101
|
82.6%
|
|
Window Replacement (vinyl)
|
$13,401
|
$10,760
|
80.3%
|
|
Bathroom Remodel
|
$19,490
|
$15,514
|
79.6%
|
|
Attic Bedroom
|
$63,314
|
$50,325
|
79.5%
|
|
Deck Addition (composite)
|
$17,552
|
$13,878
|
79.1%
|
|
Major Kitchen Remodel
|
$65,686
|
$50,556
|
77.0%
|
|
Two-story Addition
|
$195,228
|
$141,181
|
72.3%
|
|
Siding Replacement (vinyl)
|
$13,980
|
$10,067
|
72.0%
|
|
Family Room Addition
|
$105,369
|
$74,944
|
71.1%
|
|
Entry Door Replacement (fiberglass)
|
$4,040
|
$2,738
|
67.8%
|
|
Master Suite Addition
|
$131,566
|
$89,058
|
67.7%
|
|
Roofing Replacement
|
$26,718
|
$17,499
|
65.5%
|
|
Garage Addition
|
$73,834
|
$48,204
|
65.3%
|
|
Bathroom Addition
|
$49,508
|
$31,306
|
63.2%
|
|
Home Office Remodel
|
$32,428
|
$17,641
|
54.4%
|
|
Sunroom Addition
|
$86,970
|
$46,319
|
53.3%
|
|
Backup Power Generator
|
$17,033
|
$8,878
|
52.1%
|
It is interesting to note that the best paybacks are exterior renovations that increase curb appeal and liveability. They also happen to be the least expensive. So if you’re basing your remodelling decision on bang for your buck consider outside renovations. For further information please click here.
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