Scott McGillivray discusses the best and worst home upgrades you can do to your home.

What is a return on investment (ROI)?

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.

Read more: http://www.investopedia.com/terms/r/returnoninvestment.asp#ixzz1afouJhdK

 

Scott’s top five reno projects

1. Adding an income suite (160% ROI)

2. Kitchen Upgrade (140% ROI)

3. Bathroom Upgrade or addition (125% ROI)

4. Flooring Upgrade (120% ROI)
5. Hardware Upgrade (120% ROI)

 

Scott’s worst reno projects

1. Over improving for the area (30%) 

2. Specialized upgrades (ie. Murals, mosaics, gaudy moldings) (30-35%) 

3. Office overhaul (40%)

4. Swimming pool (50%)

5. Sun room addition (55%)