Five renovations that pay off: Kitchens are the #1 reno investment
The kitchen is almost always the heart of the home, and the most important room for homebuyers. So it's no surprise that kitchen renovations consistently provide the best return on your renovation investment: from 75% to 100% according to the Appraisal Institute of Canada.
While kitchen renovations can also be extremely costly, there's no need to gut the kitchen and start over to see a boost in value. Upgrades like granite countertops to replace tired laminate – or stainless steel appliances, new light fixtures and fresh paint – are mid-range investments that can dramatically boost the value of your home, while making it a more pleasant and attractive room for you and your family.
Desperate to replace your dated kitchen cabinets? Consider a partial facelift with a fresh coat of paint and updated hardware. Or get a quote on replacing the cabinet doors and drawer fronts – for a brand-new kitchen look at a fraction of the price.
When planning a kitchen renovation, remember to keep the project in line with the style and quality of the rest of the house and neighbourhood. Kitchen renovations are among the most disruptive undertakings, so buyers especially appreciate upgraded fixtures, appliances and décor.
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Invis is Canada's leader when it comes to arranging mortgages for homeowners. Together with affiliated firm Mortgage Intelligence, Invis is the country's largest independent mortgage brokerage firm. 2010 marked the 10th anniversary of Invis.
Invis mortgage professionals provide expert, unbiased advice to first time homebuyers as well as those looking to renew or refinance their mortgage, purchase investment properties, or consolidate debts.
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