If the time has come that your home no longer really suits your needs, or your style, you have two options: Sell and find something new – or new to you – or renovate to create a just-for-you solution.
A key challenge with Option 1 is our tight real estate market. Not only are prices high, but finding the right home when there isn’t a lot of selection can be near impossible.
And what happens when you love your neighbourhood or your garden, but simply need more space, or space that works better for your needs?
It may be time to renovate.
“We’re a design-build contractor so we go through a full pre-construction process.”
For example, questions to consider include:
- What’s your lifestyle?
- Do you have growing children or will the nest soon be empty?
- Is this where you plan to spend your retirement?
- How long do you plan to stay here – two years or 5+?
“If you’re only planning to stay for a year or two, that will affect how much money you’ll want to spend on the renovation,” McDonald explains. “If this is a home you’ll be enjoying for the long term, you want to make it your own.
“We’ll drill down to what your needs are and advise accordingly.”
Depending on the years you’ll likely spend in your home, the rooms you choose to renovate can also make a difference, McDonald says, noting that quality kitchen and bathroom renovations tend to provide the best return on investment.
Others may choose to update the home’s exterior for a more modern look, or rethink how the home layout suits their needs – maybe with a flexible inlaw suite for grown children or parents.
The pre-construction process also looks at factors such as what you hope to achieve, whether that’s realistic with your current home, and if hazards such as asbestos may add to the cost.
“The pre-construction process is fee-based but it’s money well-spent because you can find out before you start if there are any issues. Our design team is also available to provide suggestions,” he notes. “It’s important to us that we provide good value.”