Time To Renovate?

Designer Tamarisk McNalty Stephens shares her ideas. 

There are many factors to consider when embarking on a renovation project – outdated style is not at the top of the list! 

DETERIORATION

Like the human body, our homes need constant care and maintenance to keep them in good condition. The age of a house can impact the performance of behind-the-scenes systems, which may require some attention or an upgrade to perform their best. Or perhaps you fell in love with a property, but the house was a fixer-upper with sure signs of wear. Or there may be mould that needs remediation. Structural and safety elements, mechanical systems and building envelope upgrades (i.e. sufficient insulation, energy-efficient windows and doors and a solid, waterproof roof) should take priority over cosmetic improvements.

VALUE

Understand the resale value of homes in your area to ensure an investment in your property makes financial sense. Even if you love the location and intend to stay long-term, there are always extenuating life circumstances, and you don’t want to be upside down should you have to sell. Depending on the scope of the renovation, it might make more sense to move into a new home that checks more boxes than your existing one – and you can also sidestep the stress and expense of a renovation.

FUNCTIONALITY

When moving into a new home, it can be tempting to renovate right away; however, remember that renovating is much more involved than refreshing a space with a few coats of paint. There are small-scale updates you can do in the short term so your home reflects your style without committing to a full renovation. Allowing yourself to live in a home as-is (layout-wise) for a while allows you to discover what works and what doesn’t. You will see where the sun hits at different times of the year and people’s favourite spots to sit and congregate. You will learn whether the mudroom functions well, the laundry room can handle the load, the dining room can accommodate your guests, a fireplace enhances the ambience or if that huge tub warrants the square footage it occupies. Taking your time provides the opportunity to determine your priorities. You can create a solid plan (with limited regrets!) when ready to hit go on your big renovation.

AFFORDABILITY

A renovation will likely cost more than you anticipate. It is very challenging for a contractor to provide an accurate estimate at the outset because there are always unforeseen circumstances in a renovation. Therefore, you should always add a contingency to your budget. Avoid the stress of being stretched beyond your means by ensuring you have the financial ability to fund the project.

STYLE

Aesthetic preferences are personal. Living in a home that does not reflect your taste, personality and life experiences doesn’t feel great. When determining your style, don’t neglect to consider the surrounding site and landscape and the home’s architectural integrity so the finished project is a cohesive package.

A full-scale renovation is very involved and can include anything from re-configuring the layout, adding an addition, upgrading structural elements, new mechanical systems, changing out materials, finishes and fixtures and installing new millwork, furniture, window coverings, area rugs, art, etc. There are many things to consider – know when to hire professionals. A solid team adds insurance to your investment and offers the experience and expertise to help you through the process. OH