Which Renovations Offer the Best Payback?

Being in the design industry, I am often asked the question, "Which renovations offer the best payback?" Whether short-term return or long-term enjoyment, the following are the most requested renovations and coincidentally, those providing the best payback.

1. Kitchen Renovations - Well thought-out and tastefully done kitchens still offer the top payback for personal enjoyment and at time of resale.

2. Bathroom Renovations - Complete bathroom renovations are just slightly behind complete kitchen renovations in terms of payback value, but once again a well-considered and tastefully completed space is a value.

3. Landscaping & Exterior - Many home owners underestimate the impact a little front yard landscaping and exterior upgrading can have in the “curb appeal” and positive impression of a home. Even a simple freshen up of paint improves the presumed value of a home.

4. Interior Painting & Decorating - Tastefully and practically decorated spaces have always been a great contributor to strong payback potential. Investing in floor coverings such as hardwood and natural stone, as well as quality trims and even window coverings are permanent details which have perceived value. Selecting a neutral palette of colour in paint also makes it easier for a space to accommodate a change in trend, function of even families.