If you own a home, chances are you may think about making home improvements at some time. Renovation is a kind of investment because it can add value to your home. How does it compare to other kinds of investing, or to the interest you save by paying off your mortgage more quickly?
It depends on the kind of renovation you make. You may be making changes to your home that will be pleasant for you, but not increase its future value much. Before you plan any improvements, be aware of what does and does not add value to your home.
Learn more now: What are some renovations that add value to my home?
Content in this section is provided in partnership with the Investor Education Fund, a non-profit organization promoting financial literacy to Canadians. To find out more go to GetSmarterAboutMoney.ca.