Tips to help plan a home renovation

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It is both an exciting and daunting endeavour to take on a home renovation project, which is why careful budgeting and research is so important before beginning. It is important to keep a few things in mind so that a bit of tweaking does not turn into an unmanageable project.

Don’t underestimate the price tag

Data collected from TrustedPros.ca about more than two million users’ search behaviour and project posts shows that homeowners consistently set unrealistically low budgets for common renovation projects. People see a price range and assume their project can be done on the lower end without consideration for labour costs, size of space, and high-end materials.

Don’t go overboard

A little goes a long way. Many homeowners assume they need to spend the big bucks on upscale finishes to add value to their home. But, home renovations rarely offer a dollar for dollar return. Usually, the best returns are made on the least expensive updates like replacing your garage or front door. Be honest with yourself and don’t think of a reno as investing money when, really, it is spending money.

Be realistic

There are a few things you can do to make sure your vision matches your budget:

  • Get multiple quotes

Interview multiple contractors before choosing one. Ensure you are both on the same page about costs and expectations.

  • Stop comparing your home to the ones on HGTV

The magic of TV has led many of us to believe that projects can be done well in just two weeks. In reality, these shows are better suited as sources of inspiration rather than a blueprint of how renovations will be.

  • Answer questions honestly

Are you handy? If so, you could cut costs by doing some work yourself. But, be honest with yourself. Make sure you really have the skill and time to take on major projects.

  • Always add more

No matter how well you do your research, there are always extra costs. Most contractors suggest a contingency fund between 10 - 20% just in case.

Financial options

Like any type of spending, paying for a renovation should ideally be done with savings as you are more likely to stay on budget and avoid debt. Although, there are other options for people who don’t have all the money saved up:

  • Use rebates

Consider making upgrades with energy efficiency in mind - it is great for the environment and your wallet. You will first need to have an energy audit done, which can cost between $200-1000 depending on your city and home. Once you complete the improvements though, you could get as much as $10,000 back.

  • Use a home line of credit

The advantage of this type of loan over a standard one is that it is backed by an asset. This allows the lender to offer it with a lower interest, usually prime + or - 1%.

  • Don’t rely on credit

If you must, you could refinance your mortgage to pay for the renovation. It is not the best option, but it is certainly better than relying on credit cards. They come with much higher interest rates, meaning you pay an outrageous premium.

Be patient

Putting a project on hold gives you more time to save money giving you more options for your home renovation. It also means not going into debt for something that may likely not give you a return on the dollars you spend. A hasty, under-funded reno could devalue your home and add little benefit to your home life.


5 Common Home Renovation Blunders

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Whether you just bought a home or been living in your property for a while, there are a few renovation blunders that homeowners make that you shouldn’t follow. For instance, don’t start renovations as soon as you enter a new home. Living in it for a while gives you a better idea of what to focus on. Get familiar with the neighborhood and furniture stores. Get familiar with your home too. You may want to look at other areas to renovate. If you wait a while, you can make an informed choice with a better idea where to buy your upgrades from. You may also want to consult a professional for a superior finish than attempting to do everything yourself in haste.

Here are a few more common mistakes that you may want to keep in mind so you can avoid them.

5 Home Renovation Mistakes to Avoid

  • Ignoring the Kitchen and Bathroom: It’s a common mistake to pay attention to living room upgrades and overlook the most used areas in the house - the kitchen and the bathrooms. It helps to remember that an updated kitchen and bathrooms add considerably to your home’s resale value. Don’t miss out these spaces.

  • Spending Excessively on Unnecessary Areas: Kitchen appliances and bathroom fixtures are better when upgraded. If you invest in the latest eco-friendly versions, you may cut costs and have more functional appliances. However, avoid spending more than you should on areas where you don’t need too. Don’t overspend on expensive bathroom tiles for instance and cut costs on floors by installing laminate instead of hardwood.

  • Avoid a Complete Overhaul: Keep home renovation simple. Replace an outdated vanity with a new one instead of going for a complete bathroom overhaul. Don’t replace the tiles just yet if they are in good condition. That will save you time, effort and costs.

  • Don’t Overlook Curb Appeal: While interiors matter, the exterior of your home is just as important. You don’t want guests walking into an unkempt front yard. It ruins the first impression of your home and invites unwanted pests and rodents to find their way in. Make sure your home is well landscaped to keep it beautiful, neat and clean inside out.

  • Don’t Lose the Character of Your Home: This is extremely important. It may be convenient to replace old fixtures with modern ones but you may lose the character of your home. If you are unsure of how to blend styles while upgrading, simply call a home renovation experts for ideas and inputs. Professionals will streamline the project to create the best version of your vision. They are connected with qualified vendors who can offer a better deal on fixtures and furniture to fit it all within your budget.

Impact Demolition and Contracting, Edmonton

Since 2007, Impact Demolition and Contracting has been providing a full suite of general contracting services in Edmonton and throughout Alberta. If you are thinking of renovations, restorations, innovations or additions, we are happy to work with you to build your dream interior on time and budget. Give us a call for a professional eye and hand.



How to Choose the Right Contractor for Commercial Projects

How to Choose the Right Contractor for Commercial Projects

Commercial renovations can result in a growth of your business and brand. Commercial improvements should be executed per the mandate of your workplace and vision of the management. Selecting the correct contractor is crucial to the success of your business project.

4 Key Questions to Ask Before Starting a Commercial Renovation Project

4 Key Questions to Ask Before Starting a Commercial Renovation Project

If you are looking to have a commercial renovation project done, then you are looking at an entirely different beast than your everyday residential project. While a commercial renovation is completed, the business still has to operate around it, at least to a certain acceptable level. You cannot shut down production for a month, at least in most cases, and even if you do, the financial effect of a shut down can be devastating to the bottom line.

Benefits of Renovating Your Business

Benefits of Renovating Your Business

The physical and financial growth of business warrants a more extensive and improved space. Transferring to a new location is a high-risk option since it may put new and loyal customers at a disadvantage to search your new site. Thus, renovations of your pre-existing space stand out to be the best option. The process will utilize funds but accompanies numerous benefits.

5 Most Common Questions about Commercial Renovations

5 Most Common Questions about Commercial Renovations

Every commercial renovation project must begin by having an in-depth conversation with the prospective contractor. The goal of asking questions is to thoroughly educate yourself and your team about the changes that will take place in your commercial space.