The average home renovation in Canada costs $15,000, so there is a lot of money involved – from subtrades and contractors to tools, paint, lumber, flooring, appliances, hardware and a ton of other supplies.
Home renovations certainly increase the value of homes, but you need to think about why you’re doing them. Is it to save money by adding insulation or energy efficient windows, or is it to improve your home, so you can enjoy living in it? Many people renovate for profit, but this can be a big mistake because often budgets are spent on things like décor and finishes. They don’t think about what actually holds their homes together, and keeps them standing, safe and dry.
No one wants their home renovations to decrease the value of their houses. You obviously want your home to look good, and when the time comes to sell, you’ll want to make a profit. But if you’re renovating to sell, make sure you aren’t just covering up problems. Take care of the basics, such as insulation, HVAC, electrical and plumbing. Make your home better than it was when you bought it. Only when you’ve done that, can you make it look good.
And remember, bathroom and kitchen improvements increase the value of homes more than most other renovations, plus they offer the highest average return on investment.
At Southshore Group, we offer a variety of residential construction services in and around Barrie, ON, including interior & exterior home renovations. We can also help with new construction such as drywall, framing, stone veneer and trim carpentry.