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Four Home Improvements With the Highest Payback

ROI Concept. Grunge Poster in Flat Design.

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
  • Green Renovation Grants: 6 Things You Need to Know Before Applying
  • ecoENERGY Home Retrofit Grant program
  • Ontario Home Energy Retrofit Program
  • Residential Rehabilitation Assistance Program for Secondary/Garden Suites
  • GST/HST New Housing Rebate
  • Citizens Bank of Canada Climate Change Mortgage

Related Posts:

  • Eco-Roof Incentive ProgramEco-Roof Incentive Program
  • Housing Stability BankHousing Stability Bank
  • Efficiency PEI Envelope Upgrade Rebate ProgramEfficiency PEI Envelope Upgrade Rebate Program
  • Canadian Government Home Renovation Grants & RebatesCanadian Government Home Renovation Grants & Rebates
  • Home in Peel Affordable Ownership ProgramHome in Peel Affordable Ownership Program
  • Enbridge Gas Home Energy Conservation (HEC) ProgramEnbridge Gas Home Energy Conservation (HEC) Program

Filed Under: How To: Save Money on Home Improvements

Comments

  1. maria sacha says

    October 31, 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 31, 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 16, 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 17, 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 16, 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 17, 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 7, 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 7, 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 20, 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 22, 2008 at 1:01 pm

    Hi Shari,

    In which province do you live?

    Mark
    Editor, ShowMeTheGreen.ca

  11. Lorraine Baker says

    December 9, 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 10, 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 16, 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 18, 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 20, 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 13, 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 24, 2009 at 2:13 pm

    Is there any rebates for installing a new fireplace

  18. yvon says

    April 24, 2009 at 2:37 pm

    Is there any rebates for installing a new gas fireplace

  19. sylvia says

    September 8, 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 2, 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 26, 2011 at 11:08 am

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

  22. Maria says

    March 14, 2015 at 2:18 pm

    are these help applied only for people that live in Ontario? What about in winnipeg manitoba?

  23. Susan says

    May 15, 2016 at 10:19 pm

    Hello, I am a 56 yr old woman living in Calgary and cant afford to do my roof? the shingles are falling off/ How do I get a government grant for that. My windows are so bad they frost up in the winter and you cant even see out of them. Thanks

  24. Doug Belanger says

    October 12, 2017 at 4:11 pm

    Hi my name is Doug and I have just re-shingled my roof to the price of 6500 dollars was wondering if there are any home improvement rebates for having done this and if so who or where do I contact?

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