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Renovation Trend

The Appraisal Institute of Canada has released its annual survey of which home renovation projects represent the best "payback" for dollars spent.

Several hundred members of the Institute were surveyed. As well, the appraisers gave details on what home renovation trends were becoming popular in their own market areas.
The results? Payback is highest for a range of projects, including painting inside and out as well as more expensive projects such as kitchen and bathroom renovation.
"Homeowners want to maintain value in their house as an investment," said Bob Wade, AACI, president of the Appraisal Institute of Canada. "Kitchen and bathroom renovations are always important in terms of keeping a house modern, but a simple paint job to improve the appearance of a house works well, too."
"Projects like a cooking island or a home office just mean added convenience. But people are concerned about style, too, and they're thinking ahead to how they can use technology in the house," explained Wade.
Upcoming trends in renovation projects nation-wide included adding or creating a main-floor laundry room, a ground-floor home office, built-in kitchen appliances and hardwood flooring, the Appraisers say.