Thursday, Sep 27, 2012

Renovating by the numbers
By The London Free Press (Lowe's Survey)

Looking for payback?

Here are projects most likely to let you recover the most on your investment:

  • Siding replacement
  • Minor kitchen remodel
  • Window replacement
  • Major kitchen remodel
  • Bathroom remodel
  • Deck Addition

Source: Remodeling magazine's 2008-09 Cost vs Value Report

Buy and you shall receive

Homeowners renovating can claim back some of their reno costs under Ottawa's temporary tax-credit program. On renovations worth $1,000 to $10,000, there's up to $1,350 in tax relief, good 'til Feb. 1, 2010.

Plus, Home Depot Canada is offering a Home Renovation Tax Credit (HRTC) Top Up program. Customers can earn as much as $1,000 over and above the federal tax credit in Home Depot gift cards -- when using a Home Depot credit card.

Looks like a busy year ahead

From big projects to small, it looks like Canadians are going to be busy in 2009 sprucing up their homes. The top renovation projects include:

  • Painting the interior/exterior of their home (41%)
  • Renovating their bathroom (32%)
  • Renovating their kitchen (28%)
  • Installing new carpet or hardwood floors (26%)
  • Installing new windows (21%)
  • Building an addition, deck, fence or retaining wall (20%)

Renovation archive

What do you think is a reasonable price for a kitchen renovation?
$10, 000
$25, 000
$50, 000
$100, 000