Home renovations are not for the faint of heart, and I speak from experience. My husband and I are currently living in the home we are renovating and this takes an extra-special kind of perseverance and teamwork. We have been home builders before, and we have also taken care of minor renovations in our previous residences, but this time our current home requires updating in every sense. By the time we are done almost every aspect of our home, both inside and outside, will have been renewed, refreshed, or restored. So why, why, WHY go through the hassle of living through demos, dust, perpetual mess, and things being shuffled from room to room?
1. You love the neighbourhood.
Sometimes you are already living in your favourite neighbourhood but your home has become dated or the floorplan no longer meets your needs. Sometimes a simple refresh in style or making your square footage suit the stage of life you are in is worth the time and effort to stay where you are, and it usually saves you money in the long run. The kitchen, primary bedroom and ensuite are worth updating if you plan to live in your home for longer because these are the top three rooms where renovation money is seen as a great investment. Maybe you would like to remove or add a suite. Maybe you need a home office instead of a playroom. If you love your neighbours and love the street that you live on, then it is worth the effort to make your home fit and reflect your new stage of life. Save all the hidden costs of selling your home and buying somewhere else, and put those savings into your renovation fund.
2. Your older home needs to stay competitive in today’s market.
Our home was built in 1981, before hot water on demand, heat pumps, air conditioning, and surround sound was a thing. My husband and I know that we love these conveniences in a home, and that to remain comparable to new homes on the market down the road that we would be smart to put our house on equal footing by installing these upgrades. This is not the fun and glamorous part of a renovation. A lot of money goes into the hidden guts of your house that nobody really sees, but that every future buyer will wish for and expect. If you can, make the upgrades early on so that you can enjoy them yourselves for the years you are living there.
3. Rebates!
In an older home there are often areas where multiple inefficiencies are costing you money. Drafty windows cause heat loss during the winter months, generating a higher heating bill, and cause your HVAC system to work harder in the summer when cool air escapes. Older appliances were built to last forever but they usually consume much more energy to function. Window companies, solar energy suppliers, fireplace retrofitting, and energy-efficient heat pumps are often advertised with rebates to offset the purchase cost.
4. You understand the value of “sweat equity.”
My husband and I enjoy investing our time, labour, and skills instead of cash when it comes to increasing our property’s value. Obviously, there is no getting around the cost of hiring professional plumbers, electricians, and HVAC technicians when they are required. It is always cheaper to do something right the first time! I believe in obtaining permits for property renovations that require them. Still, there are so many ways we have contributed our muscle, creativity, and time into projects that will see a future return. We have scraped and resurfaced ceilings, painted rooms, installed flooring and trimwork, hung doors, tiled bathrooms, installed underground irrigation, and landscaped. We didn’t learn everything all at once, and we are perfectionists so it all takes time, but we work well together as a team and enjoy seeing the results of our own hard work. The extra money saved is a very happy side-product, too!
5. You have a good eye and know when a house has “good bones.”
Not everyone has an eye for detail or the ability to spot potential. Some people cannot see past a mess or a terrible paint colour or reimagine furniture placement. The house my husband and I bought last year sat on the market for a while. It was visibly dated with the “wrong” colours, outdated and mixmatched flooring choices, and old appliances. It was a mix of ‘80s and 90’s with an addition to the floorplan that left one specific room in the middle of the home wondering what exactly it was supposed to be! I am sure many prospective buyers saw it online and didn’t give it a second thought. On a boring Saturday I went to its Open House purely because there were only two in the area that day. I knew immediately when I walked into the house that it felt like “home.” Looking around, I saw that our creativity and hard work would have to be applied to every inch, but I knew it was a solid house on a beautiful street in an incredible neighbourhood. I could see the potential. The yard was stunning and the light was wonderful. I even knew exactly what to do with the weird room in the middle of the floorplan … and now my 9’ dining table looks like it was meant for that exact space.