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15 Dartmouth Road Suite 15
Bedford, Nova Scotia
B4A 3X6 902 - 835 - 2000
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Your Money's Worth?
Over time, the money you save on heat, light and water by making your home more energy efficient may actually pay for the upgrades. Safety also pays. Insurance companies often decrease premiums when you improve wiring or fire prevention and improve or add a security system.
On the other hand, you can overdo a good thing. If you plan to move within a few years, is the renovation worth it? Will it pay to put on an expensive new addition when your house is in an area of more modest homes?
Payback Range of Typical Renovations
Top Four Greatest Payback Potential
Bathroom renovation (75 – 100%)
Kitchen renovation (75 – 100%)
Interior painting (50 – 100%)
Exterior painting (50 – 100%)
Ten Avenage 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%)
Information provided by the Appraisal Institute of Canada, 2006.
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