3 Types of Renovations

When undergoing a renovation, there are many factors to consider. Budget or course is the primary consideration, but finance aside, how do you go about planning your Reno according to your taste and your future plans.

There are basically 3 types of renovations:

1. Renovating for yourself or your family to enjoy the space for years to come.

2. Renovating for a flip or to sell the home shortly thereafter

3. Repairing a damaged room or area (which will then branch off back to option 1 or 2)

So with that in mind, here are a few quick tips to keep on mind when planning out your next project.

1. Renovating for yourself

If you have been looking forward to remodeling your home for a while and your plan is to stay in the home for the foreseeable future, then you should give yourself a little more room to work and add in some personalized features. You can be a little more creative with the colours and design choices as the end user in mind is you. Certain upgrades that you may not necessarily get your value back dollar for dollar when its time to sell but add value and comfort to your life. Things such as heated floors, some “smart” features, a cool accent wall. These may not make a huge difference come sale time, but they can in your day to day life.

2. Renovating to Flip

When going this route, your goal should be to create an attractive product (the house) to present to the market and the get the most bang for your buck. You obviously want to get out more than you put in, otherwise why bother going through the work in the first place. Personalized items may not bring you back a good return on your investment and may not be worth the extra cost. You may also want to stick to some more neutral colours and designs to appeal to a wider demographic. This is not to say don’t do a good job or go bare bones, just keep the end goal in mind.

3. Repairing a damaged room or area.

This one is not quite as fun as the first two, but still important. Maybe you got some unwanted water damage, or the bathroom is just so old and musty it has to be done. Whatever the case, this will direct you back to option 1 or 2 in most cases. These types of renos are usually more budget focused with the goal of just getting the space back to fresh and usable without very many upgrades. But it can also be an opportunity for a fresh start.

Whatever the case, a good renovation should always be planned out from start to finish. Make sure you have a proper budget and a little room for contingency.