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For Canadians interested in the "smartest" household renovations for a good return on  investment, the Appraisal Institute Of Canada suggests:

1. Choose improvements with long life expectancy: roofing, energy-efficient heating/cooling & windows can provide worry-free improvements for 10-15 years
2. Invest in modern updates in high traffic areas: update the kitchen & bathroom core rooms with new door handles, counter tops, fixtures and resurfaced cabinets
3. Don’t underestimate the value of inexpensive updates: fresh coat of paint, modern light fixtures, light landscaping & new door handles give an updated look at low cost
4. Consider energy efficient renovations that have high paybacks relative to cost
5. Don’t over-improve. Consider your neighbourhood & buyer expectations