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%)