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Mark & Vivian DeBruyn-Smith, Sales Reps.
Selling Info
Should You Renovate or Just Move?

Royal LePage State Realty, Brokerage
905.525.3737 Bus. / 905.570.2500 Cell
mark@instantpage.org and vivian@instantpage.org

If you find yourself wondering what it would be like to have a larger kitchen, an extra bathroom or just your own private space away from the kids, you are probably wrestling with the dilemma - should we renovate or just move?

It is never easy to uproot your family and move to a new home, especially if you have settled in and grown comfortable where you are. This is why we are often tempted into over-improving our homes instead of just moving to something that meets our changing needs. While it is difficult to separate emotions and memories from financial considerations, it is often helpful to step back and look at what sort of return you get when investing in a major renovation.

The Appraisal Institute of Canada's most recent Renovation & Home Value Survey lists the top 20 best and worst resale renovations. In a poll conducted annually, 200 appraisers nationwide are asked to rank renovations by their return on investment. The results are summarized as a percentage of the money spent on each renovation that a homeowner can expect to recoup when they finally move.


2007 Home Improvement Cost Estimates by Carson Dunlop & Associates.

The following costs are intended as ballpark estimates for repairs and/or improvements to a typical three bedroom home. Our experience has shown that actual contractor quotations can vary by as much as 300%. Naturally, the quality of workmanship and materials will influence costs. The complexity of the job, accessibility and even economic conditions can also alter actual costs.

Home improvement cost estimates chart below is courtesy of

Best Returns
(% of cost returned at resale)
Bathroom renovation 75% to 100%
Kitchen renovation 75% to 100%
Interior painting 50% to 100%
Average Returns
(% of cost returned at resale)
Re-shingle roof 50% to 80%
Replace furnace 50% to 80%
Renovate basement 50% to 75%
Family room addition 50% to 75%
New fireplace 50% to 75%
New flooring 50% to 75%
Build a garage 50% to 75%
New windows/doors 50% to 75%
New deck 50% to 75%
Central Air 25% to 75%
Worst Returns
(% of cost returned at resale)
Landscaping 25% to 50%
Interlocking paving 25% to 50%
New fence 25% to 50%
Asphalt paving 20% to 50%
Swimming pool 10% to 40%
New skylight 0% to 25%


Roofing / Flashings / Chimneys
Install conventional asphalt shingles over existing shingles $1.50 - $2.50 per sq.ft.
Strip and reshingle on medium sloped roof $2.50- $3.50 per sq.ft.
Strip and reshingle on steep, high or complex roof $4.00 - $7.00 per sq.ft.
Strip and re-roof with cedar shingles $7.00 - $10.00 per sq.ft.
Strip and replace built-up tar and gravel roof $8.00 - $12.00 per sq.ft. (min. $1000)
Strip and replace single-ply membrane $6.00 - $10.00 per sq.ft. (min. $750)
Reflash typical skylight or chimney $300.00 - $500.00
Rebuild typical chimney above roof line $150.00 - $300.00 per lin.ft. (min. $300)
Repoint typical chimney above roof line $6.00 - $8.00 per sq.ft. (min. $250)
Exterior
Install galvanized or aluminum gutters and downspouts $4.00 - $5.00 per lin.ft. (min. $500)
Install aluminum soffits and fascia $8.00 - $12.00 per lin.ft.
Install aluminum or vinyl siding $3.50 - $5.00 per sq.ft.
Repoint exterior wall (soft mortar) $3.00 - 4.50 per sq.ft. (min. $200)
Repoint exterior wall (hard mortar) $6.00 - $8.00 per sq.ft. (min. $200)
Parge foundation walls $3.00 - $4.00 per sq.ft.
Dampproof foundation walls and install weeping tile $150.00 - $200.00 per lin.ft. (min. $1000)
Install a deck $25.00 - $40.00 per sq.ft. (min. $1000)
Resurface existing asphalt driveway $2.50 - $4.00 per sq.ft.
Install interlocking brick driveway $6.00 - $8.00 per sq.ft.
Rebuild exterior basement stairwell $3500.00 - $5000.00
Build detached garage (single) $8000.00 and up
Build detached garage (double) $12000.00 and up
Build retaining wall (wood) $20.00 - $25.00 per sq.ft. (min. $500)
Build retaining wall (concrete) $30.00 - $40.00 per sq.ft. (min $500)
Painting (trim only) $1500.00 - $2500.00
Painting (trim and wall surfaces) $3000.00 and up
Structure
Underpin one corner of house $3500.00 and up
Underpin or add foundations $300.00 and up per lin.ft. (min. $3000)
Lower basement floor by underpinning and/or bench footings $150.00 - $300.00 per lin.ft. (min. $5000)
Replace deteriorating sill beam with concrete $60.00 and up per lin.ft. (min. $500)
Install basement support post with proper foundation $300.00 - $500.00
Perform chemical treatment for termites $2000.00 and up
Repair minor crack in poured concrete foundation $400.00 - $800.00
Electrical
Upgrade electrical service to 100 amps (including new panel) $1200.00 - $2000.00
Upgrade electrical service to 100 amps (if suitably sized panel already exists) $1200.00 - $2000.00
Upgrade electrical service to 200 amps $1800.00 - $2200.00
Install new circuit breaker panel $500.00 - $800.00
Replace circuit breaker (20 amp or less) $50.00 - $100.00
Add 120 volt circuit $150.00 - $300.00
Add 240 volt circuit $250.00 -$400.00
Add conventional receptacle $150.00 and up
Replace conventional receptacle with ground fault circuit receptacle $60.00 -$90.00
Replace conventional receptacle with aluminum compatible type (CO/ALR)(assuming several are required) $10.00 - $15.00 ea.
Upgrade entire house with aluminum compatible receptacles, connectors, etc. $500.00 - $1000.00
Rewire electrical outlet with reversed polarity (assuming electrician already there) $5.00 - $10.00 ea.
Heating
Install mid-efficiency forced-air furnace $2000.00 - $4000.00
Install high-efficiency forced-air furnace $3500.00 - $6000.00
Install humidifier $200.00 - $400.00
Install electronic air filter $500.00 - $800.00
Install mid-efficiency boiler $2500.00 - $5000.00
Install high-efficiency boiler  $5000.00 - $9000.00
Install circulating pump $400.00 - $600.00
Install chimney liner for gas appliance $400.00 - $800.00
Install chimney liner for oil appliance $700.00 - $1800.00
Install programmable thermostat $200.00 - $300.00
Remove oil tank from basement $400.00 and up
Replace indoor oil tank $1200.00 - $2500.00
Remove abandoned underground oil tank $3000.00 and up
Replace radiator valve $250.00 - $500.00
Add electric baseboard heater $250.00 - $400.00
Convert from hot water heating to forced-air (bungalow) $8000.00 - $10000.00
Convert from hot water heating to forced-air (two storey) $15000.00 - $20000.00
Clean ductwork $200.00 and up
Cooling / Heat Pumps
Add central air conditioning on existing forced-air system $3000.00 and up
Add heat pump to forced-air system $4000.00 - $5000.00
Replace heat pump or air conditioning condenser $1200.00 - $2500.00
Install independent air conditioning system $8000.00 - $15000.00
Install ductless air conditioning system $3000.00 and up
Insulation
Insulate open attic to modern standards $0.50 - $1.25 per sq.ft.
Blow insulation into flat roof, cathedral ceiling or wall cavity $2.00 - $3.50 per sq.ft.
Improve attic ventilation $40.00 - $50.00 per vent
Plumbing
Replace galvanized piping with copper (2 storey with one bathroom) $2000.00 - $3000.00
Replace water line to house $2000.00 and up
Replace toilet $400.00 and up
Replace basin, including faucets $500.00 and up
Replace bathtub, including ceramic tile and faucets $2500.00 and up
Install whirlpool bath, including faucets $3000.00 and up
Retile bathtub enclosure $1000.00 - $1500.00
Replace leaking shower stall pan $1000.00 - $1600.00
Rebuild tile shower stall $1500.00 - $2500.00
Replace laundry tubs $250.00 - $500.00
Remodel four-piece bathroom completely $6000.00 and up
Connect waste plumbing system to municipal sewers $3000.00 and up
Install submersible pump $800.00 and up
Install suction or jet pump $400.00 - $600.00
Install modest basement bathroom $4000.00 and up
Interior
Add drywall over plaster $1.50 - $2.50 per sq.ft.
Sand and refinish hardwood floors $1.50 - $3.00 per sq.ft.
Install replacement windows $50.00 - $100.00 per sq.ft.
Install storm window $100.00 - $300.00
Install masonry fireplace (if flue already roughed-in) $2000.00 and up
Install zero-clearance firelace (including chimney) $3000.00 and up
Install glass doors on fireplace $300.00 and up
Install skylight $3000.00
Remodel kitchen completely $10,000.00 and up
Install gas fireplace $3500.00 and up


The above renovation quotes are courtesy of Carson Dunlop & Associates Ltd. Carson, Dunlop & Associates Ltd. is a consulting engineering firm which has been devoted exclusively to building inspections since 1978. The technical staff consists solely of consulting engineers, professional engineers and graduate engineers from Civil and Mechanical disciplines. The engineers have all been through an intensive four month in-house training program, and participate in various continuing education programs. The firm specializes in the inspection of buildings and the preparation of condition surveys detailing the physical condition of the building structure and major components. Where improvements are recommended, time frames and ball park cost estimates are outlined for these areas. For more information visit them online at http://www.CarsonDunlop.com


©Copyright 1999 - 2016. Mark DeBruyn-Smith.

Mark DeBruyn-Smith B.A., Salesperson / Vivian DeBruyn-Smith Hons. B.A., Broker
Royal LePage State Realty, Brokerage
905.525.3737 Bus / 905.570.2500 Cell
1122 Wilson St. W., Ancaster - 987 Rymal Rd. E., Hamilton - 115 Hwy#8, Stoney Creek
www.royallepagestate.ca / www.hamiltonhomes.ca

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Royal LePage State Realty, Brokerage - 1122 Wilson St. W., Ancaster Ontario Canada - 905.525.3737 office, 905.570.2500 cell www.royallepagestate.ca
Real Estate Sales – Homes for Sale. Listing and selling homes in Hamilton, Ancaster, Dundas, Burlington, Flamborough and surrounding areas. Residential, Rural and Condominiums. Over 25 years of experience helping clients and friends buy, sell, mortgage, inspect, stage and renovate properties.