Renovating a home or business can be a complex and time-consuming process, so it’s important to know the main sticking points before starting the project. With careful planning and consideration, you can ensure a successful outcome that meets your goals and budget. Here are eight key factors to know before you renovate.
Budget
Renovations can quickly become expensive, so it’s important to set a realistic budget and stick to it. Consider factors such as materials, labour, permits and unexpected costs. Make sure to add an extra 10% to the overall budget to ensure you can pay for any unexpected costs.
Scope Of Work
Determine the extent of the renovations you want to undertake and prioritize which projects are most important. It’s also important to consider the impact on the rest of the building as major renovations can disrupt daily life.
Permits
Depending on the type of renovation, you may need to obtain permits from your local government. Make sure you research the requirements and obtain the necessary approvals before beginning work.
Contractors
Choosing the right contractors can make or break a renovation project. Do your research, get referrals and ask for references to ensure you’re hiring a reputable and experienced contractor who can deliver the quality of work you expect.
Timeline
Set a realistic timeline for your renovation project, taking into account any potential delays due to weather, permits or unexpected issues. Be prepared for the possibility that the project may take longer than anticipated.
Design
If you’re undertaking a major renovation, it’s important to have a clear vision of what you want the end result to look like. Consult with a designer or architect to help you create a cohesive plan that aligns with your goals, budget and hired workforce.
Energy Efficiency
Renovations present an opportunity to improve your energy efficiency, which can save you money over time. Consider upgrades such as insulation, energy-efficient appliances and smart home technology.
Resale Value
If you’re planning to sell your home or business in the future, it’s important to consider how the renovations will impact the resale value. Consult with a real estate agent or appraiser to understand the potential impact on the building’s value.
