Were you Planning to Build a House?
Are you still planning to build a house ? Or thinking of renovating instead? Dreaming of your dream home since we are spending so much time inside it these days? It is truly a beautiful thing to walk into your home everyday and feel the pride that comes with designing, building and surviving a major renovation.
Like thousands of people in the GTA every year we just had a major renovation done to a house we purchased in August 2018. We moved in to our incomplete dream home in August 2019. the whole process from buying and renting and renovating was a great way to ensure our home met the needs of our family. 4 kids. 2 adults. 1 dog. 1 two bedroom basement apartment. It wasn’t easy financially or emotionally & we learned a lot along the way.
My advice to you if you are planning to a major renovation anytime soon.
RENOVATE OR BUY NEW?
Ask the tough questions.
- Costs need to be considered on both sides!!
- Do you love your home & your neighborhood?
- Can your family handle the stress?
- Necessary renos need to be done either way
- Zoning allow for this type of renovation at this property?
- Is the end value worth the investment?
You want to build your dream home? Need more room?
- Renovations almost always build more equity in your home
- Equity builds wealth
- Investment property in your future?
- Customize the home to your taste
- Save money … but not always
Do not rush the planning process
- Financing & Set budget
- Assess condition of the home & needs analysis
- Draft plans – Most important – Planning Scope of Project – Hire an Architect
- Hire a contractor – Layout expectations from the start
- #1 ENSURE YOU HAVE A CONTRACT
- LINK TO LEAD MAGNET
- Live in or our during the renovation? Extra rental costs!
- Permits – almost always need a permit
- Plan Review Process
- Zoning review
- Building Code review
- Mechanical Plans Examination
- Fire Prevention Examination
- Receive Results
- Begin with Structural jobs & building components & demo
- Space it out & work out the details
- The final touches & landscaping
If you are looking for referrals for architects or other contractors to help I have put together a list for you.
Wishing you all the best,