Home Renovations

AMONG THE SUBLIME joys of owning a house, it’s hard to say where renovations rank. Judging by the number of home renovation shows on television, it’s easy to see how much people love the idea of home improvement—or maybe we just get a weird kick out of seeing the dismantling of other people’s homes (and their sanity, when something goes wrong). But more likely, it’s the ‘after’ part of the reno that we’re waiting for—the dream home that makes it all worthwhile.

RENO TRENDS IN CANADAHere’s what happened last year on the Canadian renovation home front, according to a 2018 CIBC poll on home renovation trends.

• 45% of homeowners planned to renovate in 2018, and had budgeted $10,959 on average (down from 2017, when 48% of homeowners planned to spend $11,795 on renos).

• The most common renovation projects in 2018 covered basic maintenance (52% of homeowners), followed by landscaping and bathrooms (both 39%).

• Of Canadians ages 55 and over, 71% preferred renovating to selling their homes. On average, they planned to spend $10,800 on renos (down 36% from 2017).

*Source: https://www.newswire.ca/news-releases/canadian-homeowners-trim-spending-on-home-renovations-in-2018-cibc-poll-684137711.html

Parting Advice

For those considering a makeover, Herrick suggests getting multiple quotes and choosing a quality contractor. “With the economy we’re in, you should be able to secure a reasonable price,” he offers. The advice holds whether or not you intend to put your house on the market. But if that is indeed in your plans, he also recommends talking to a designer or realtor to get the latest on current trends. Knowing what’s selling and what isn’t will help you make the right choices—as well as knowing who it is you’re selling to. “Renovate to their tastes, not your own. I mean, if you’ve got a 3,000 sq. ft. house in St. Albert, it’s going to appeal to a family. We’re not trying to sell it to a downsizing couple.”

Ward takes a longer view of things. For him, the main point of a reno is to make a house a home, and a better and more convenient place to live. “The customer has to get the full personal value out of those renovations,” he explains. “If a sale is on the horizon, then just be modest about your design. It’s more important that a home is clean and looks well maintained, because you never know what somebody else’s taste is going to be coming in.” t8n