- The timing is right. With the current market, contractors are more accessible, waiting periods may be shorter and you will be able to stretch your dollar farther.
- Your family is expanding. If you love your existing location with significant emphasis on the school for older children already in attendance, developing your basement or changing the bonus room into another bedroom may be the right answer.
- It’s still a Buyer’s market. There’s a buyer for everything however it isn’t as easy as it sounds to just sell your existing home and move to one that has all the features you want – there is so much more involved. When you already have kids, packing and moving is cumbersome, you have less time if both home owners work, there is the possibility you won’t get the amount you were hoping for in the sale, or you may not be able to sell your home in the timeframe necessary. The thought of changing schools with hopes of your children getting into another one could also become a nightmare. Schools in many areas are already at capacity which has resulted in a ‘capped’ situation.
- Improving your home’s appearance – When areas of your home look run down, they can make the entire home seem tired and worn. Like buying new clothes to change your appearance, over time, your home needs improving too. A modest face lift to the kitchen can do just that with new doors in a different colour, upgraded countertops, or adding a feature backsplash tile. The bathroom is another key area for renovations that can be reasonably done by adding a mosaic tile feature around the existing mirror, new plumbing fixtures, wainscoting around the walls in either a tile or lacquered MDF product, and a new coat of paint can do the trick. Don’t forget this will also increase your home’s selling value.
- More closet space – I have been in so many homes around the City that range from average to very high end and yet the one thing that most of them have in common is the very basic wire shelving in all the closets. Adding built-in drawers and shelves can eliminate the old dressers units in the bedroom which in turn, will create more living space. Moreover, one can never have enough storage space.
- Energy Efficient – You want to take a more cost effective approach in reducing your heating bills in winter and maintaining a cooler house in the summer. Older homes are notorious money pits in this area and simple fixes include replacing all the windows, and insulating the attic (most older homes have little to no insulation in the attic).
- Your home is out of style – modernizing your home makes it more functional which is paramount, and of course a more desirable retreat.
- You have an empty nest – Once the kids leave the house, homeowners now have the option of turning a bedroom into an office, or extending their master bedroom and adding a larger ensuite with the extra space that a no longer needed bedroom, can provide.
- Interest rates are low – With that said, this is a great time to get started.
- You just purchased a home – If you have some renovations in mind, now is the time to act on those wishes prior to moving in. This will save you a lot of headaches (by not having to live with the dust, noise, paint fumes, and trades coming and going). Also, projects go much faster when there is no furniture to work around.
