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What to Consider When Planning a Major Renovation

What to Consider When Planning a Major Renovation

Once the decision has been made to renovate a home (or condo), the most important thing is to have a viable plan. Good planning makes for better decision-making and better outcomes for the long term. Also important is to talk to experts – whether it’s for financing, for legal issues, or for the actual contracting. The truth is, sifting through home improvement magazines for ideas and concepts is the easy part – putting it all into action is what makes all the difference.

Anyone with previous experience will confirm that “pre-reno” homework is critical for success. In fact, most cost over-runs are simply a result of bad planning. On the other hand, good planning practices allow for better budget control and better time management. And nothing quite beats speaking to the experts or professionals. This is where the best advice and recommendations can emerge, including design concepts that may have never been considered.

Assessing the condition of the home

It’s a good idea to assess the positives and negatives of the home. Here again, the experts (like an engineer, electrician, or contractor) can assess any serious issues and point to anything severe.

Make a brief “wish list” for the reno

A “wish list” will better define the aims of the renovation – functional aspects, design and decor aspects, and structural aspects. This list will ensure that everyone is tuned into the priorities.

Understand construction requisites

A major renovation will likely be impacted by the building code and local bylaws. It’s important prepare and process all of the paperwork ahead of time so as to avoid unforeseen roadblocks.

An interior designer or an architect

Depending on the budget, a major renovation may require the services of an interior designer, decorator, or even an architect. Each can contribute in a different way, based on the need.

Hiring the right contractor/builder

It’s absolutely vital to secure a reliable, reputable contractor/builder (and with good references). And while multiple quotes are as important, personal interviews are another good measure.

Attaining proper building permits

Preferably with the contractor, building permits and permit approvals should be secured in a timely manner. In some cases, there may be a need for a real estate lawyer or property surveyor.

Securing the necessary financing

It’s critical that project financing is well in place. It should be cost-effective, whether it’s a home equity loan, a home re-finance, or a personal line of credit. Overextending finances is a mistake.

Living at home during the reno

The scope of a major renovation may require vacating the home. This must also be planned out well, and built into the overall budget. Cutting corners here may set the stage for added stress.

Find out about reno incentives

Homeowners may qualify for significant federal rebates when undertaking major renovations. At Rebate4U, the expert team can assess the project, and submit all the required rebate paperwork. The truth is, many homeowners are unaware of such HST rebates, and Rebate4U can easily help to obtain substantial amounts. It all helps when managing a big project budget.

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