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Tips & Advices

Think before you Renovate; 7 Simple Questions!

Written by MKTLIST Blog Team Published On : January 03, 2018 1249
Think before you Renovate; 7 Simple Questions!

Renovating always sounds tempting, who doesn’t love change. But, before you dive into the process of mixing, matching, coordinating, positioning and reinventing, we’ve outlined 7 basic questions you need to ask yourself.

 

1.    What are my goals?


So, you’re tired of that white washed wall that sits in the middle of your lounge and kitchen. You’ve watched enough of the Property Brothers and have wild ideas running through your mind. Should I take the wall down? Paint it? Add a door through it? All possible options but, each has technicalities involved. Taking a wall down isn’t as easy breezy as you see it on TV.

Wiring, piping, ventilation and the entire structure of you home could be toppled just be removing one wall. It’s always best to make a list of what you want to do and narrow down your options to what is the most realistically possible thing to do.

2.    What is my budget?


Have a sitting with your contractor and outline your budget. Promise to your self that you will stick to it. That fireplace will catch eyes in your lounge but, do you really need it? Keep an emergency fund by you, which is roughly 15% of the entire project, for incidental costs.

You should always be clear about your budget, no matter if you’re spending that bonus or your savings. (Do not forget to explore federal tax credits while you’re at it.)

3.    Do I require permission?


While it is your house and your rules apply. However, if you’re a member of a homeowner association or live it a condo, you may be faced with some restrictions such as; design diminution and work hour ordinances. It’s a good idea to request a copy of these rules from your board before hammering down. For example; some homeowner encounter limitations on square footage expansion.

4.    Can I get a referral?


Call in your contractor and let the fun begin! Assemble and bring in your designs, scheduling outlines and budget, ask to see examples of work. Make sure you mention the quality of the fixtures (windows, doors, woodwork). Try getting photos of completed projects to give the best vision. Consider a quick search of liens and lawsuits. Ensure that who you’ve hired is bonded and insured according to your requirements.

5.    What is the pay schedule?


It is conventional to pay one third of the cost in advance, one third mid project and the last of the instalments when the work is completed. Before work commences it’s advised to work out the specific costs.

6.    Who makes up the team?


It’s probable that you will be living in your home while it is being worked upon. It’s also probable that you will want to determine how many people will be working your home at a regular basis and how that might affect your budget. You may want to even muster up an agreement regarding the protection of areas that are not being renovated. House rules such as; which bathroom, entry way to use, off-limit areas and where to dispose of waste should be adhered to as well.

7.    What type of affirmation will I receive?


You are likely to receive designer plans, contacts and paper work permits of the completion of the project. However, ask for warranty and care instructions for any installations you might think it’s appropriate for. Ask your contractor for photographs of any machinery installed and make sure you have post project access to sub-contractors.

 

For more advice on similar topics, stay connected to Mktlist.ca – your home to buying, selling or renting property. 

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