When your about to take on a costly home renovation project, the most important consideration you should make should be the enjoyment and value you’ll receive as a homeowner from this renovation. If you think you’ll eventually be selling your home in the future, you may want to also consider the increased value this renovation will bring to your home.
Some expensive additions, such as an inground swimming pool, can be very expensive, but could add little value to the asking price for your home in the future. This is dependent on region and locale, here in Toronto, it wouldn’t add much value due to the colder climate and short swimming window….but in a hot climate, an inground pool is a must.
Everyone loves a finished basement or a new kitchen, but not everyone wants a giant swimming pool taking up half their backyard. If you’re wondering which types of renovation add the most re-sale value for you home, check out this infographic courtesy of elocal.com. While personal enjoyment should be your main concern when investing in a home renovation, it’s also comforting knowing that you’l get most of your investment back if you decide to sell your home one day.
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