Is a home renovation in your near future? Are you wondering if renovating an old home is worth it? No matter if you want to renovate as preparation for selling your home or if you just want a change, before you dive into it, there are some questions you need to ask. Our team at Orange Contracting wants to go over these questions with you.
Is A Renovation Worth it?
There is usually a significant investment involved when renovating a home. This means you need to be certain that the renovations will be worth it. Think critically about this and compare the cost and results. If this comparison doesn’t seem like it’s worth it, moving might be your best option instead.
Where Do You Want Renovated?
Knowing what room(s) you want renovated is a good starting point. This will help you to make a project plan. You can opt for a complete home renovation, but that might not be in the budget. This might mean you decide to update the bathroom first and wait for other renovations in the future. Therefore, selecting specific rooms can help you get a clear goal in mind and let you plan out exactly how you want to renovate your home in terms of importance. List the most important first and the renovation that can wait for a later time.
What is The Budget?
Ever start a renovation without a budget. Renovations are expensive, making them add up quickly, but when done right, will have a great return on investment. Ensure your investment is worthwhile and that you can afford it by coming up with a line-item budget. Make sure to remember to include things like permits, fees, material, labour, etc. If you are unaware of the cost of these things, you will be surprised at the cost in the end.
What Do You Need VS. What Do You Want?
This kind of links back to where you want to renovate. It’s important to prioritize your renovations (if there are a lot of them) to see what you can/should do first. For things like material selection, invest your money in important things. If there are some things you want but can’t afford, find solutions and substitutions that are similar and give you the same result you are looking for.
As an example, there is a cost difference between granite and marble. If it is not in your budget, you can find similar style options at a lower price. This will still give you the desired aesthetic but not cost you as much. Or if the choice is between a granite countertop or walk-in pantry, assess what is more of a necessity vs something you don’t need but would be nice to have.
For all renovations, come up with a “wish list” and “necessities”.
Is There Extra Money in Your Budget?
Even if you have a budget and meticulously planned for all expenses, 9/10 something will come up that is unexpected and will change the total cost of your renovation. This is why it’s good to have extra money budgeted for these circumstances. Budget flexibility is important and should be allotted 20% additional funds for things like overruns and material cost increases.
How Can You Renovate to Match Your Lifestyle?
Take a look at your lifestyle needs before you begin renovating. Is more space needed for something like a home gym, home office, additional bedroom, or perhaps a home theater? Having these personal touches and knowing what you want to do will help with material selection, making the renovation easier.
Is an Interior Designer Needed?
Sometimes it can be hard to articulate exactly what you want the finished renovation to look like. This is where an interior designer comes in handy. They can talk with you and come up with a visual representation of your discussion. Then you can see the 3D vision on paper and have an easier time changing things to what you want before the renovation actually starts. Working with a designer also gives you access to referrals for suppliers, and they can also offer advice on optimal functionality.
What Materials Do You Want?
Do you crave a home that feels luxurious? Working with a professional contractor gives you access to their expertise and allows them to help find you the materials you want within your budget. They can offer their advice on the best materials that work in certain areas. For instance, selecting countertops for the kitchen vs the bathroom, or what flooring is best for high-traffic areas vs low traffic areas.
What Is Your Reason to Renovate?
Are you renovating your house because you want to sell it? If so, this might change the material selection you pick. You might want to opt for more modern looking materials and fixtures to make it more appealing for the sale.
Or are you renovating and planning to stay? If so, you can pick whatever fixtures and materials suit your individual style.
Let Our Team Help
Our professional team here at Orange Contracting are experienced in home renovations in Newmarket! If you are looking to renovate because you want to sell or just to update your living space, we would be happy to help! Contact us at (416) 817-2590 today!