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Four Home Improvements With the Highest Payback

Here's a shocking statistic for you: 38% of renovators surveyed in 2006 said they exceeded their home improvement budget...by an average of 88%!

While you should do everything you can to keep renovations on budget, looking at the value you're getting from the renovation will allow you to keep things in perspective.

Consider how much payback you can expect from particular home improvements (from the Appraisal Institute of Canada):

Top Four Greatest Payback Potentials:
  • Bathroom renovation (75-100%)
  • Kitchen renovation (75-100%)
  • Interior painting (50-100%)
  • Exterior painting (50-100%)
Ten Average Payback Potentials:
  • Roof shingle replacement (50-80%)
  • Furnace/heating system (50-80%)
  • Basement renovation (50-75%)
  • Recreation room addition (50-75%)
  • Installing a fireplace (50-75%)
  • Flooring (50-75%)
  • Constructing a garage (50-75%)
  • Window/door replacement (50-75%)
  • Building a deck (50-75%)
  • Central air conditioning (25-75%)
Six Lowest Payback Potentials:
  • Landscaping (25-50%)
  • Interlocking paving (25-50%)
  • Building a fence (25-50%)
  • Asphalt paving (20-50%)
  • Adding a swimming pool (10-40%)
  • Installing a skylight (0-25%)
Also, make sure to check out the Appraisal Institute of Canada's online calculator. It calculates the dollar value you can expect your home to increase by after doing specific renovation projects.

Related Rebates


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21 Reviews for “Four Home Improvements With the Highest Payback”

  1. maria sacha Says:
    October 31st, 2007 at 4:02 pm

    Hi,

    Where do I find the grants for homeimprovements for Alberta. I see a lot for Ontario, Manitoba and the east coast. Do you have an web site I can go to.

    thanks

    maria

  2. Mark Says:
    October 31st, 2007 at 4:29 pm

    Hi Maria –

    We have grants information right here on this site. Type “Alberta” in the search box at the top of this page and you’ll see what’s available.

    Most government rebates are for specific home improvements, like replacing your furnace or windows. Check out our homepage for the kinds of home improvements that rebates are available for.

    Also, the first grant you should lok at is the federal ecoENERGY Retrofit grant. You can get up to $5,000.

    Hope that helps.

    Mark
    Editor, ShowMeTheGreen.ca

  3. Peter Egan Says:
    November 16th, 2007 at 12:35 pm

    I am in the process of re shingling my roof on my single family dwelling home. It is a bungalow and a one level roof. I am a Senior and will be 70 years old this month. What, if any, grants are available to me and how do I go about obtaining them.

    Thank you

    Peter Egan. (London. Ont.)

  4. Mark Says:
    November 17th, 2007 at 11:44 am

    Hello Peter –

    Depending on your income level, you could be eligible for these two Government of Ontario rebates:

    Ontario Energy Efficiency Assistance Program for Houses

    Ontario Income-Based Retrofit Program

    If you decide to do more than shingle your roof, you could also consider the Government of Canada’s ecoENERGY Rebate, which gives up to $5,000 for renovations, and is matched by the Ontario government.

    Cheers,

    Mark
    Editor, ShowMeTheGreen.ca

  5. Lance Desbien Says:
    December 16th, 2007 at 3:47 pm

    My name Lance and my home is in need of new windows and doors. Also i have a finished basement and this past summer we were going to start renovating it but when we started to rip out the old cedar shingle walls i found water and frost damage on my foundation the blocks shifted about an inch right at the corner behind my breaker panel which is also damaged from black mould and moisture please tell me if there is any help out there for me.

  6. Mark Says:
    December 17th, 2007 at 12:31 pm

    Hello Lance,

    As a start, look into the ecoENERGY Retrofit program. You can get up to $5,000 from the federal government (depending on how much you increase the energy efficiency of your home), and if you live in Ontario the provincial government will match the ecoENERGY grant.

    After you’ve looked into that rebate, click on your province on this site’s homepage and then you’ll be able to search for rebates for windows and doors.

    Mark
    Editor, ShowMeTheGreen.ca

  7. Ronald Markland Says:
    January 7th, 2008 at 4:47 am

    In need of a new roof. Thought about something more effiecent than shingles. Like life time roofing. Know of any rebates or grants available for this. Maybe I am wasting my time in search of such a thing?

  8. Mark Says:
    January 7th, 2008 at 10:30 pm

    Hi Ronald – the government grants and rebates out there pay for improving the energy efficiency (or water efficiency) of a house, regardless of the material used. The bottom line is: the more energy efficient you make your home, the larger the grant you’ll qualify for.

    You should consider looking into the ecoENERGY Home Retrofit grant. The grant is for up to $5,000, and a number of provincial governments (Saskatchewan, Ontario, Quebec, New Brunswick, and Nova Scotia) offer additional money to complement the ecoENERGY grant.

    My advice: go back to the homepage and click on your province, then select the category “Home Improvement (Grants/Rebates)”. You’ll find at least one grant program that applies to you.

    Hope that helps,

    Mark
    Editor, ShowMeTheGreen.ca

  9. Shari Says:
    May 20th, 2008 at 2:43 pm

    My spouse & I purchased a renovated house that is a triplex and some of the windows are cottage style or dated. Where could I find the best rebates for window replacement for all windows, enery efficent and cost efficient? We are just new to renting and live in one of the units so the costs were high this winter. Could you help me with locating a website please.

  10. Mark Says:
    May 22nd, 2008 at 1:01 pm

    Hi Shari,

    In which province do you live?

    Mark
    Editor, ShowMeTheGreen.ca

  11. Lorraine Baker Says:
    December 9th, 2008 at 10:33 pm

    I have just completed a major reno, have purchased and installed hi-efficiency furnace (90%), hwt, hi efficiecy w/d, gas stove, refrigerator, dishwasher, & microwave hoodfan, and 2 gas fireplaces. I also had low “E” windows installed, new insulation
    throughout, all new plumbing and lighting. In otherwords, a new home. I would like to know what rebates I can apply for. I had all certified subtrades with permits.
    Lorraine Baker. I am located in Delta, B.C.

  12. Lorna Says:
    January 10th, 2009 at 7:34 pm

    My husband and I just bought a home a year ago. It still has knob and tubing wiring in it and I was wondering if there are any grants that you could inform me of that are in ontario for re wiring our house and bring it up to code

  13. Dallas Says:
    February 16th, 2009 at 6:15 pm

    Does anyone know about goverment grants for first-time home buyers for eg. building a fence or doing any in home renovations? please and thanks

  14. Anne MacIsaac Says:
    March 18th, 2009 at 7:59 pm

    what is efficiency to replace old sandstone foundation, (only crawlspace under house) with proper concrete 4ft deep frost wall to keep frost out of ground under my kitchen addition. The rest of the house has full basement, also sandstone foundation stones,these are ok, have insulated around sill.

  15. Bruce Wilson Says:
    March 20th, 2009 at 6:35 pm

    Are there any grants or special loan programs to help cover the cost of rpairing home foundations?

  16. Lana Lietz Says:
    April 13th, 2009 at 7:47 pm

    Just inquiring:

    I need to know what grants are available to homeowners for the purpose of upgrading electrical, plumbing etc. My home is almost 100 years old, and needs quite a bit of upgrading. I live in Medicine Hat, Alberta. Would appreciate any information reguarding this matter. Thank You. Lana Lietz

  17. yvon Says:
    April 24th, 2009 at 2:13 pm

    Is there any rebates for installing a new fireplace

  18. yvon Says:
    April 24th, 2009 at 2:37 pm

    Is there any rebates for installing a new gas fireplace

  19. sylvia Says:
    September 8th, 2009 at 5:11 pm

    we live in an older home built around1926,its mostly confortable and well built,except that it has a dirt crawl space under most of the house, and we now have to find a way to replace the sewer system that was put in many years ago,,do you know if there are any grants or finacial help availlable to help with such a project

  20. Cathy March Says:
    March 2nd, 2011 at 8:36 am

    Today is March 2/11 – I need to insulate my house better. Is it too late for any grants? Who should I call?

  21. alex burke Says:
    August 26th, 2011 at 11:08 am

    Is there a grant available for shingeling a home of a senior I am 83 years old ?

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