Determine Your Priorities
Before hiring a contractor to carry out the renovation work, ask yourself what most needs to be done first.
If you are planning to sell your house in the next few years, make the most of your investment by prioritizing improvements that increase a residence’s market value, such as a new kitchen or bathroom.
Find Out How Much It Will Cost
The costs you must consider include the labour; appliances; finishing; the electric, plumbing, heating, and ventilation work; permit fees; as well as the post-reno house clean-up.
Once you’ve determined a budget for all these essential expenses, you will know how much money you can spend on selecting materials. So, what price range can you afford? You may be limited to lower-end options.
Then, take the time to obtain quotes from a few different contractors to select the one that best meets your expectations.
Once you’ve hired your chosen professional, ask them to send you a detailed timetable, including the duration and cost for each step of the renovation process.
The Good and the Bad News
Moreover, don’t forget that there are almost always nasty surprises when renovating. You might discover that the structure is damaged, that there is a water infiltration issue or that the pipes need to be replaced. So, set aside an extra 15% to 20% of the project’s total estimated cost so you won’t run out of money along the way.
Also, find out if you qualify for a government or municipal grant or rebate. You might be in for a pleasant surprise! You may be eligible, for example, for a partial reimbursement for work carried out to improve your home’s energy efficiency.