Home renovation and condo
Here are some tips to follow if you are considering a home or condo renovation project.
Make sure you have a permit and apply well before the work begins. The time taken to process applications for permits varies from municipality to municipality, but it is better to pre-arrange for the work to start on schedule. Note that the need for a permit varies depending on the nature of the work being done.
Some renovations are more advantageous than others and will allow you to recover a greater part of the sums invested when reselling your home. Among the works that offer an excellent return on investment: kitchen, bathroom, doors and windows.
Avoid over-personalizing. There are sometimes madness that can be regretted! A sauna or a very personalized bathroom with a large whirlpool, for example, are investments that will give little value to your home. Depending on the neighborhood in which you live, an in-ground pool may not be a good investment.
Consider the value of other residences in your neighborhood. If you invest a lot of money for renovations and you find yourself with an overvalued house compared to your neighbors, you may suffer significant losses during resale. Conversely, if the value of your home is less than the value of your neighbors, the investments will be more profitable.
Check trends with a real estate broker or a construction or interior design professional. This will allow you to make choices that, while enjoying you, will also appeal to potential buyers.
Make sure you have a formal contract. It should contain some critical information, including what the contractor should do, the time required, the availability of resources or locations, and so on.
You must meet deadlines if you understand that you are doing some of the work, for example, demolition work. A contractor will not be able to meet its own deadlines if you have not done the preliminary work.
Maintain good communication with your contractor, among other things to keep track of expenses and costs. This will help you avoid unpleasant surprises at the end of the project.
By following these tips, your home or condo renovation project will only find it easier. Renovating requires energy, but this is probably one of the most motivating projects you will have to achieve. And you could fall again under the spell of your property!
