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What you need to consider before renovating your home

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What you need to consider before renovating your home

Whether you bought a fixer-upper or a brand new home, there are always little projects you may want to do to make your house a home.

First-time homebuyer or seasoned pro? Whatever it is, we’re willing to bet that no home is going to be exactly what you want. There are always going to be little projects you’ll want to around the house so it’s just to your liking.

There are five important things you should know before getting started on any renovation and we’ve laid them out below:

What improvements will give you the biggest return?

Maybe your laundry room could use a little extra storage space but will it really add monetary value to your home? Consider the big money makers like your bathroom and kitchen. Even the front of your house is a good investment for increasing curb appeal. Contact your realtor and ask for their opinion. They’ll be a good sounding board on what can make you more money when it’s time to sell your home.

Where will the money come from?

It may seem like an obvious statement, but before jumping into any renovation you’ll need to consider where that money is actually coming from. You may not always be able to fund your improvements with cash so knowing what other options are out there is important. Sit down and do the math on refinancing, opening a line of credit or taking out a loan. There are some tax breaks for certain home renovations which can help save you money as well.

Consider the timing

There are some projects that are better suited for the summer, and others for the winter. Before you jump all-in consider the time of year and roughly how long it will take to do the project. You won’t want to be putting an extension on your house in the middle of winter, nor would it be ideal to be in redoing your basement floors in the height of summer.

Find the right contractor

Above all, you’re going to need to find someone you trust to help you with the renovations. Websites like HomeStars and RenoMark are great resources for finding the right people. Don’t be afraid to interview a few different contractors for the job. It’s super important that there is mutual trust. At the end of the day your money is important and you want to make sure it’s going to the right place.

Find your inspiration

Saying you want to redo your bathroom is one thing, but knowing exactly how you’re going to redesign it is something else entirely. Using websites like Pinterest or Reno & Decor can help give you ideas from the experts you may never have thought of. It’s also great to clip photos and bring them with you when shopping for items like tiles or vanities so you don’t forget your vision.

Madisyn is a freelance writer and social media obsessed traveller based out of Toronto. Always looking for her next adventure but glued to her phone, you can contact her at madi@therestlessworker.com or visit her at www.therestlessworker.com

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