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Halifax Home Appraisal A Must – Prior To Starting Your Next Renovation Project!

Whether you plan to sell your home immediately or stay put for a while, you'll want any renovations undertaken to have maximum impact on your property's resale value.

To give yourself peace of mind, while saving you time and expense, consider consulting with an experienced Halifax home appraiser. They will conduct a reliable, unbiased home renovation cost benefit analysis that takes into account your homes current value against the projected value of your renovation plans.

Halifax home appraisal

Don't be surprised by the answers you hear. As a rule, the return on investment will depend on the location of the property, the type of renovation planned, and the value of your home as compared with others in the area. If your home's value is above the average for your neighborhood, the return will be lower. Conversely, if your home is below the average market value, expect a higher payback.

According to the Appraisal Institute of Canada's 2004 Home Renovation Survey, the renovation projects offering the highest potential payback are as follows:

1. Bathroom Renovation

2. Kitchen Renovation

3. Painting - Interior/Exterior

Here are some projects and their projected average payback value ranges:

Top Four Greatest Payback Potentials

* Bathroom renovation (75-100%)

* Kitchen renovation (75-100%)

* Interior painting (50-100%)

* Exterior painting (50-100%)

Ten Average Pay Back 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%)

While return on investment is very much a key consideration, stop and consider the long term enjoyment you will get from the improvements undertaken.

For an objective, unbiased valuation of your home renovation project, contact a qualified Halifax home appraisal professional. The time and expense saved, and the resulting peace of mind, is worth it's weight in gold!

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