The money maker's guide to renovationDecember 4, 2007
The money maker's guide to renovation
By Hilary Davidson
If you listen closely, you can hear pink sinks being ripped out, wood panelling coming down and paint cans being pried open. All across Canada, we're renovating like mad. According to Statistics Canada and the Canada Mortgage and Housing Corp., far more money is being spent renovating existing houses than building new ones.
This year, the outlay is expected to hit a whopping $38 billion, an all-time high. And if that kind of cash is involved, you've got to get it right. "When you renovate, you should do something for the house, something to raise the resale value and something for you," says Robert Koci, Chatelaine's Ask an expert contractor columnist. In other words, be practical, think about the future – and add a feature that makes you want to dance with delight each time you see it.
