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While these numbers are interesting, it is important to keep in mind that they are only relevant if you are renovating just prior to selling your home. If you are renovating to improve the liveability and/or enjoyment of your home you will want to take a different look at the situation. How much is enjoyment worth? Only you can decide on that Return on Investment.

Here is a guideline as reported by the Canadian Mortgage and Housing Corporation (CMHC). Renovations create new value in your home, especially for re-sale. According to the Appraisal Institute of Canada, the following projects offer the top, average and lowest payback of all home renovations:

Top 4 greatest payback potentials (2009):

Bathroom renovation (75-100%)
Kitchen renovation (75-100%)
Interior painting (50-100%)
Exterior painting (50-100%)

10 average pay back potentials (2009):

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 (2009):

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%)