Renovate to Live in or Sell?

The dripping faucet and the worn out floors are getting to you.  It's time to fix up your home.  There are several things to keep in mind when taking on a project big or small.  If your plans are to remain in your home for another 10 years, then make your choices based on your own taste and budget.  This reno is for you; not for the next owner.

If on the other hand you are planning to move in the next few years,  choose finishes and colours conservatively and cost appropriate to your home and neighbourhood.  Use paint to personalize your space instead of dramatic coloured fixtures.  Remember the 80's with red and black bathtubs and sinks.

Experts say the four areas that give maximum return on investment are: kitchens, bathrooms, basement and landscaping.  The best return for the money is interior and exterior paint. 

Please keep control of the budget and match the level of expense to the value of the home.  For instance a $50,000 kitchen is overkill in a $500,000 house if you hope to recover your costs when you sell.  Ikea, Home Depot & Rona etc. offer good looking cabinetry and appliances for budget conscious home owners.

Choosing a contractor or architect is as difficult as choosing your Real Estate Agent.  The relationship between home owner and the professional is a long and stressful one.  Get several references, inspect their work and make sure they aren't over committed when they sign on for your project.  Give a minimum deposit and hold back 20-30% until completion.

Call The Team for any advice on what to do and what not to do when considering a renovation.  Our experience on seeing millions of houses and a few reno's gone wrong can be invaluable.