Alberta's most popular renovation projects

Canadians spent nearly $53 billion on renovations throughout 2016, according to Statistics Canada. And throughout the first quarter of this year, Canadians have already spent more than $12 billion on renovations.

According to ATB Financial's Economics and Research Team, home renovations in Alberta alone hit "a record high" of $1.78 billion during the first three months of 2017.

So, just where are Canadians – and Albertans, specifically – spending their renovation dollars?

Will a home makeover make you money?

There are many motivations for renovating a home: expanding the space, upgrading the look or even making the neighbours jealous. While they're all valid, the hope to enrich a house's value along with its appearance is one reason that's often cited. And though there's nothing wrong with that on the surface, it's important to dig deeper to see if a higher home value is really in the cards before taking the renovation plunge.

"It really depends on the type and purpose of the renovation," said Greg Macdonald, president and founder of Sage Appraisals in Calgary and a 23-year veteran of the appraisal business.

"I stress to people that the cost of improvements won't always equal the increase in market value. Developing your basement might give you a 50- to 75-per-cent return and the payoff for landscaping is minimal. With certain unique items, like pools, your return will be next to nothing."

Grow your own herbs and inspire your next culinary creation

Is there a shortage of basil at the store? No problem. Frost in the garden? No worries. Basil and other herbs are always in season and at your fingertips when you grow them right in your own kitchen.

A herb garden in the kitchen is amazing. And if you're the family cook or aspiring chef, you already know that fresh herbs bring meals to life. With a little space and the right kit, herbs practically grow themselves. Or, if you prefer a low-tech approach, even a modest a windowsill can suffice.

Renovations outpacing new home construction

Canadians spent more on improving homes in 2014 than they did on building new ones, according to a new report by real estate consultant Altus Group.

Spending in Canada reached an estimated $67.8 billion in 2014, reported Altus. In comparison, Canadians spent just $48 billion on new home construction during the same year.

While the number represents a 3.2 per cent increase over 2013, it pales in comparison to the 8.7 per cent annual averages that were seen from 2000 to 2007. Over the last seven years, renovation spending has levelled off to an average increase around three per cent.