Hello Ottawa,

The most common questions I answer from past clients that have purchased homes is with regards to renovations and their resale value.  For any homeowner looking to do renovations or additions, re-sale should be an important factor to consider.  I find far too often sellers have done renovations that are very specific to their personal needs which can really affect the ability to resell the property, and the return on their investment.  Of course personal enjoyment is usually the main reason for renovations so it's not to say you shouldn't choose finishings to your taste.  Choosing the renovation project that adds the most value to your home is a smart decision, and The Appraisal Institute of Canada has designed an application to assist consumers in making that decision. I have included a link to the application below.  Of course the application makes a number of assumptions in it's calculations so I would use it with caution and still advise you to consult with an expert on real estate value prior to any major project.  

http://component.aicanada.ca/e/resourcecenter_renova.cfm