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; Kitchens, baths add value to sale price "Big ticket" renovation projects don‘t always pay back dollar for dollar. In the case of the $30,000 addition, the value of the house is still determined by what the market will bear for a house of its type, in its location. ne Ontario home owner recently O added a 300â€"square foot, main floor family room addition to his home. The cost? $30,000. The return in terms of improved market value of the house? Just $7,000 according to a professional residenâ€" tial real estate appraiser. The cos $343,000. This home shows beautifully and ready for your inspecâ€" tion. Featuring an elegant entrance hall with ceramic flooring. Separate living room and dining room, modern kitchen with a walk to a gorgeous deck overlooking a swimming pool, lovely family room with fireplace, fabulous master bedroom with ensuite plus three additional bedrooms. The lower level features a large rec room with bar and separate office, moveâ€"in condition. Call VIC YATES 338â€"9000. EASTO?)AKVILLE EXECUTIVE RENTAL Real estate appraisers advise that home $2950 per month featuring five bedrooms, renovated modern kitchen, family room with fireplace and main floor den, three car garage, mature lot with swimming pool and large rec. room with bar and games room plus more. Call VIC YATES 338â€"9000. $145,000. Shows beautifully featuring master bedroom with ensulite, enclosed sunken den or second bedroom, sepaâ€" rate dining room and eatâ€"in kitchen, outdoor swimming pool by the lake. A pleasure to show. VIC YATES 905â€"338â€"9000. f Large or small | list them all. : Call today for my personalized marketing plan. 67 Lakeshore Rd. W. RF//M( aboutoune s BEAUTIFUL CONDOMINIUM EXECUTIVE CLASS HOME Member of the VIC YATES Ooavile Mitton and BA., RRS. District Plus Toronto Real Estate Board 338â€"9000 24 Hour Pager Kitchen renovations took first place among appraisers in Ontario overall, with bathroom renovation and interior painting and decorating following closely in imporâ€" Members of the Ontario Association â€" Appraisal Institute of Canada were surveyed recently on their views of the home renovaâ€" tion projects that offer top dollar value return on sale. improvement projects must be chosen careâ€" fully to maintain competitiveness â€" not to achieve luxury status which may result in minimal payback and could even price the house out of its own market. tance. "A kitchen renovation to improve appearance and function improves the comâ€" petitive edge of a house relative to new conâ€" struction," commented a Thunder Bay appraiser. "Kitchen renovation can be expensive, but this room is scrutinized closely by prospective buyers. It‘s important to keep the renovation costs in line with the price range of the house," a Toronto real estate appraiser explained. In rural areas, the kitchen is important for a different reason. It is common to enter the house through the kitchen, said a Rapi LaPuge fat Eaite Seniw L B Basement finishing as a renovation proâ€" ject ranked in the top five of renovation proâ€" jects with payback potential, but the appraisers cautioned people to do the job right, or skip it altogether. ‘"Payback can be severely curtailed if the quality just isn‘t there," a Toronto appraiser remarked. "Too many people try to do this themselves, and then they don‘t achieve any value later." Tillsonburg professional, "You want this room to look spacious and good." The real estate appraisers said that kitchen renovations are a "must" in houses more than 20 years old and bathroom renoâ€" vations in homes over 40 years in age, if home owners want their house to be comâ€" petitive with others when they put it up for sale. Heating systems are another feature that the appraisers said is an important factor when a house is on the market. "Frankly, not enough people ask about the mechanical systems," said one appraiser, "but buyers do look at heating costs. Today, vendors, with either oil or electric heating systems, are being penalized at the time of sale." A new, preferably midâ€"efficiency, gas furnace tells a prospective buyer that costs will be lower and that she or he won‘t have any problems with that aspect of the house for probably five years, the appraisal profesâ€" sionals said. The real estate appraisers were also asked which projects they had seen were the smartest in terms of value returns, and which were the most unusual. "Smart" projects tend to be aimed at upgrading and improving a home generally. A Kingston area appraiser described the renovation of a narrow row house to expand living space and make for a brighter interiâ€" or. The use of greenhouseâ€"type windows allowed for plenty of natural light, the appraiser said. Other appraisers noted that masterâ€"bedroom and bathroom suites tendâ€" ed to improve homes while adding value. Unusual projects ranged from the "bizarre" to the .downright dangerous, according to the appraisers surveyed. The most unusual was the installation of an indoorâ€"outdoor pool connected by a small waterway complete with an underwater viewing area! In Ottawa, one home owner did a topsyâ€" turvey renovation so that the kitchen, living, and dining rooms were on the second floor, while the bedrooms were on the ground floor. And in the Toronto area, one home owner actually damaged the house strucâ€" turally with a renovation project which could not be finished. "All that money, and no value to show for it," was the appraiser‘s comment. The Appraisal Institute of Canada is the professional association for real estate appraisers. Ontario 9. 1 1. Kitchen renovation 2. Bathroom renovation 3. Interior painting and decor 4. Mainâ€"floor family room addition 3: 6. 7. 8. Finished basement . New heating system . _New windows and/or doors Exterior painting Central air conditioning 0. Energyâ€"efficient features Toronto 1. Kitchen renovation 2. Bathroom renovation 3. Mainâ€"floor family room addition 4. Interior painting and decor 5. New heating system 6. New windows and/or doors 7. Finished basement 8. Exterior painting 9. Addition of separate living unit 0. Central air conditioning. TOP TEN HOME RENOVATIONS PROJECTS