Pre-sale renovations not worth the effort

Remodeling your home is a waste of money.



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While many homeowners looking to sell think that fine-tuning and renovations will score them a sale, The Financial Post is warning this isn’t the case.

Instead of launching a full-scale remodel on your home, experts are suggesting only the most basic of improvements. A quick paint job — and only where absolutely required — is about as far as you need to go.

In its 2009 report, The National Association of Realtors found that, on average, homeowners are only getting back US$638 for every US$1,000 that they put into home improvement projects. The only smart renovation investment out there seems to be an insulated steel entry door. Installing one will get you US$1,289 for your US$1,000 spent.

3 comments on “Pre-sale renovations not worth the effort

  1. That's good to know, hope that is true. I recently bought, got no bargain and I had to do renos, what I cud afford anway. Badly needed paint job inside so that cost 2 almost 3 grand. Toilets definitely needed to be replaced, $800 for 2 also had to hv carpet ripped out of bathroom replaced with lino $500, finally the water tank was over 20 yrs old definitely had that replaced. Real Estate agent said I shud hv hardwood floors in living area, hv kiten remodeled. Scary thing is if I got those things done which I can't afford anyway wud I get all that back? So I am glad to hear that I don't hv to do major renos to sell. The seller certainly didn't do anything.


  2. I want to give thanks to you for this excellent read!! I certainly loved every little bit of it. I have you bookmarked your website to see the new stuff you post.


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