From how much you spend and how long the process takes to how to select the right contractor and build a good relationship with them, there’s a lot to keep in mind when you’re building a new home or renovating an existing one. Hold onto your Pinterest boards and double-check your square footage, because we’re sharing 10 tips to keep in mind if you’re planning a new build or renovation this spring …
1. Dream about what you want ...
Now’s the time to really let your imagination go wild and think about anything and everything you might want. Even if something’s not in the budget now, it might be down the road.
Write everything down and start honing in on what’s realistic. Remember that what looks gorgeous in a magazine might not be realistic for your lifestyle.
If you’re planning to renovate an older home, think about the historical details you want to keep or highlight — and think carefully before you rip out original wood, hardware or stained glass.
2. ... now get realistic about your budget
Dreaming was fun, but now it’s all about what you can afford. What do you feel comfortable spending? What’s your maximum budget? What will you do if things run over budget?
It’s a good idea to have a contingency fund for unexpected costs, whether you’re building or renovating. Your renovator may discover bad wiring or plumbing that needs to be replaced, and your builder will need to increase your bill if you decide to upgrade the shower in your master bedroom.
When it comes to renovating, be cautious you’re not “over-improving.” Not every home renovation will increase the value of your home by as much as you’re spending, so it’s important to think about which improvements have the best return-on-investment (ROI).
3. Sort out how you’ll be paying
Once you’ve decided on a budget, you can make a plan on how you’ll pay for your new home or renovation. Make an appointment with your financial advisor to discuss your options, and resist the temptation to overextend yourself financially.
Remember, you may also qualify for rebates by choosing energy-efficient materials and equipment.
4. Do your homework on potential renovators or builders
You want to be aligned with a professional you can trust, which is why we’ve put together a full list of builders, renovators, suppliers and retailers who are members of the Canadian Home Builders’ Association of Nova Scotia: nshomebuilders.ca/directory. You can also contact us directly to inquire about local builders, renovators or other industry professionals.
5. Meet with several options
We encourage you to meet with potential renovators or builders and get a feel for how you might work together. You’ll want to speak with several different ones to compare quotes and personalities.
Ask them about their communication plans and strategies throughout the process for keeping you informed. Be sure they have safety training, liability insurance and Workers’ Compensation coverage for their employees. Ask if they offer a new home or renovation warranty, and wrap up by getting a quote — in writing.
6. Sign a contract
Once you’ve decided on a builder or renovator and feel confident with your decision, it’s time for both parties to sign on the dotted line. Be sure the contract includes the start and completion dates, payment schedules and product selections that will be used in the construction process.
It should also address the implications of how changes will be handled once the contract is signed. This is an important step for both of you, as it’s the beginning of what should be a mutually enjoyable relationship as they work on your dream home.
7. Meet your deadlines
Not every milestone is up to your contractor. You’ll be responsible for certain tasks along the way, like choosing finishes, picking out paint colours or purchasing fixtures.
Be sure you understand what you need to do — and get everything finished by the dates you’re given. If you goof up and miss a deadline, you could be holding up someone else on the job — which is only going to cost YOU more money in the end.
8. Be patient — good things take time
If you feel tempted to pester your contractor about the timing of the project, don’t. Refer back to the dates on your contract and remember that things don’t happen nearly as fast in real life as they do on HGTV.
As long as your contractor is sticking to the schedule — and you have everything ready for them when you’re supposed to —
just bite your tongue and wait. If there’s a delay on their end, a good contractor will discuss it with you. They understand you’re eager to get to the finished result.
9. Resist the urge to second-guess yourself
Some people find it thrilling to choose tile and flooring, while others find it tedious — even nerve-wracking, because they’re afraid to make a mistake.
No matter how you feel about the process, it’s important not to second-guess your decisions. After you’ve told your contractors which finishes you’ve chosen, it’s best not to change your mind. The materials may have already been purchased — or even installed — and it will cost time and money to swap them out.
10. Don’t rush to “finish” the job
You may have been waiting months to get your hands on that bright, freshly-painted space, but don’t hurry to get it decorated and furnished just so you can pronounce it “finished.” You’ve likely just spent a good sum of money and might rush to purchase inexpensive items just to fill it up — and regret those choices later on.
Remember that the best rooms are ones that can evolve over time, with pieces that are beautiful, functional or meaningful. Take your time, and you’ll find yourself enjoying your fresh new space for years to come.
