"Should you sell or should you stay?"  This is the question posed by a popular television renovation programs.

As your family grows you may consider whether to renovate your existing home or buy a larger one.  Often it is a decision based on whether or not you wish to go through the disruption of a project, either large or small, as well as the cost of the anticipated project.  But even if you decide to stay put and renovate your home, you might like to know how much of a return on your investment you could realize.

The Appraisal Institiute of Canada has recently updated its RENOVA project which estimates the payback from typical home renovation projects.  Remember that these are typical figures, based on the experience of appraisers, and may vary significantly depending on your location and general market conditions.  It is always wise to get an updated opinion of value of your home after you have completed these renovation projects.

According to the latest RENOVA survey of appraisal members, here are the top twenty-five projects.  To calculate the potential return on your potential renovation investment, click on the RENOVA link.

Another online community for home design enthusiasts, Houzz, rates the top 10 home improvement projects it expects to see in 2012.  Click on the link to see photos of their home improvement projects in Toronto.