Is your house in need of a remodel? Do you want to finally re-invest in your property to get the home you’ve been dreaming of? Have you been putting off the remodel because you didn’t know where to start? 

When it comes to investing in a remodel, here are five ways to get the most value out of your budget:

• Plan Your Dream Home

Knowing what you want your home to look like and what you want to get out of it is the best place to start. Determine what use you want to get out of your property and what living needs are not being fulfilled by its current design. 

For partial remodels, decide which areas you want to prioritize and what can be postponed. Consulting a professional might also help you anticipate hidden costs, such as tree-clearing or redirecting drainage. They can also help you avoid unnecessary items like inefficient spaces or unusable rooms in your plan.

• Establish a budget

Once you have an idea of what you want your home to look like, you can estimate how much it will cost. You can gather estimates from local contractors and decide upfront if you will do a full or partial remodel. 

According to the Canadian Real Estate Association, the average price for a home in 2020 is about $488,000, more than five times the average person’s annual income. Being prudent with your budget and sticking to it will help you make important decisions throughout the re-modelling process without losing sight of your goal. 

• The simpler the design, the better

Keep in mind that the more complicated the shape of the structure, the more it will cost per square foot. Lean towards the square or rectangular shaped structure with simple roof patterns. Avoid curves and rounded structures, particularly vaulted high ceilings, which are trickier to build and require more structural investment. 

• Repurpose your materials

Some of your construction materials may already be present in your structure. They may be repurposed or upcycled, or simply treated and strengthened to update their look. You can also shop around local stores that sell quality used materials, like wood and stone, which will save you on cost. 

• Think long-term

Some building item costs might appear expensive upfront but may make your property more efficient and give you savings down the line. It might help to invest in insulation that will reduce heating costs in the colder seasons. Energy-efficient appliances and inverter technology can help lower your household’s overall electrical consumption. 

Consider investing in renewable energy generators that can store enough power for lighting your home. Explore fitting your building with smart switches and sensors that monitor and analyze utility usage, or allow you to control them remotely over the internet. Future-proofing your home will ensure that you get the most out of it for many years to come.

There’s no need to allow the prospect of re-modelling your home to intimidate you. If you can think strategically about your home re-modelling project and keep these five things in mind as you execute your plan, you will likely see more savings than cost. 

We at SIBA Homes have over 20 years of experience in building homes in the Greater Toronto area. Drop us a line and let our professional team help you achieve your dream home!