Home » Design & Planning » Steps to Renovating » Consider your budget
Can you really afford to renovate?
To know, you need a clear idea of the costs involved. Get quotes from at least two reputable local builders, architectural firms or building merchants. Explain exactly what you want to do and discuss various options. Then, take the most reasonable estimate and add 10 to 15 per cent for unexpected costs.
If you need financing, you may be able to renegotiate your mortgage or apply for a personal loan. You may even be eligible for assistance, as there are incentive programs for energy-efficiency upgrades through ECCA available.
A successful renovation can be a dream come true, but without careful planning and management, it can be a nightmare.
Be informed. Before you pick up a hammer, a book or a video on home renovation, talk to family, friends and neighbours who've renovated. Explore all the options, and remember the builder's creed: measure twice, cut once. Mistakes on paper are easy to fix and inexpensive. Mistakes on the job are not.