Easy Step-By-Step Guide to Renovating Your Home in 2023 On A Budget
You’ve finally decided that you’re sick and tired of looking at the original flooring, cabinets, paint and (gasp!) wallpaper in your home. If you’re wondering if 2023 is the right time to renovate, the answer is yes, and you won’t have to break the bank to do it.
In a recent survey by Bank of America's 2021 Homebuyer Insights Report, among 2000 adults surveyed, 65% of younger homeowners are looking to renovate within the year. And with home prices expected to fall across Canada this year, if you have a yearning for a new kitchen, bathroom or living room look, renovation makes a lot more sense than selling and buying something new. There are many things to consider, from the budget to the renovation design. So, whether you're updating a few rooms or doing a full-blown renovation, it's essential to know what's involved and what happens during the process.
See the big picture
You need to look at the bigger picture first. What do you want to achieve with the renovation? Will you need to hire an architect? What colors do you think you’ll want to use? How long will the renovation take? After getting an idea of the scope of work, you can narrow your focus and begin the planning process. The best way to get a bird’s eye view of the scope of your project is to first scout around in magazines and online blogs to get an idea of what is available, and what is trending. Once you’ve seen something you like, you can dig a little further into the details such as materials and time commitment. An initial contact with a contractor in your area can also help give you a ball park estimate of personnel required and how long your renovation might take.
2. Get your finances in order
Which comes first, the budget or the estimate? If you already know about how much you can afford or want to spend on a renovation, then you can get quotes from different contractors or suppliers if you’re planning to oversee the project yourself. This will greatly help you to quickly come to a conclusion about the full scope of the project and whether what you are envisioning is realistic. Create a spreadsheet to compare prices and services. Make sure to draw the line on your budget range so you don't overspend. Once you have a ballpark figure, you can look at financing options.
3. Think Green
Speaking of finances, if you have plans to renovate in such a way that your home will become more energy efficient, there may be some financial assistance available to you from government programs. For example, your project might qualify for the Canada Greener Homes Grant, a federal program launched in 2021. The program is scheduled to remain in place until 2028, and can award grants of up to $5,000 for home renovations such as replacing windows, doors and skylights with energy efficiency features such as triple glass and solar panels. The Home Renovation Rebate from BC Hydro Power Smart and FortisBC offers homeowners rebates for energy efficiency upgrades including insulation and new heat pumps as well as natural gas upgrades.
4. Research materials
Vinyl flooring staircase - practical and beautiful
Renovating your home on a budget means being flexible and resourceful. Take a look around and see what materials are available. If you’re on a budget, hardwood floors may not be in the cards, but laminate likely will be. Vinyl flooring is popular these days, extremely durable and comes in various patterns and colors. Get creative with your materials and look for alternatives that will still give you the desired results.
Or, if you want to add a backsplash in your kitchen but are concerned about the cost of ceramic tile, consider glass tile, peel-and-stick tile, wood or even wallpaper. For countertops, of course you’re going to look to granite or marble slabs as a first choice for unmatched beauty, but it could take up a large chunk of your budget. Other choices include ceramic or porcelain tile, laminate, and butcher block. Concrete countertops are also a more affordable option than natural stone, especially if you’re after a sleek, modern look that is extremely durable.
5. Set a timeline
Timelines will help you stay on track and avoid any stressful last-minute changes. Your contractor is going to be able to give you a detailed timeline once the overall project plan comes together. But timelines can change as the renovation progresses, so if you have a wedding or family function coming up, you’ll want to make sure all the choices you make have a buffer for manufacture and/or delivery.
Communicate any unchangeable time requirements to your contractor at the outset. You can also work out milestones for individual stages of the renovation with your contractor, which can give you a measure of peace of mind around the completion date. Ideally, you’ll not be wanting to wave good bye to the renovations crew as your party guests are coming in the door. Make sure you have a good amount of time after the renovation is done before a big event. If the timeline does have to change, it can add to the cost, so be sure you have created a buffer around your budget to accommodate adjustments.
6. Stay organized
With any renovation, there will be a lot of moving parts. From choosing materials to coordinating with different suppliers, staying organized and prioritizing tasks throughout the process is essential. It's best to work with a licensed, experienced renovations contractor who can take the lead on co-ordinating the project. Once the two of you have come up with a project plan and timeline, you’ll be able to “follow along” as the renovation progresses. If it looks like the crew is ahead of schedule, you’ll have an idea how far ahead based on the milestones established. You’ll want to be organized before, during, and after the project is completed.
Before: Just like packing to move, you will need to pack away dishes and pantry items prior to a kitchen remodel. This is the perfect time to do a bit of decluttering so when the job is done, you’re left with only the items you really want. Based on the project plan, you should be able to designate groups of items to specific cabinets, drawers etc. Box up your items with labels to make it super easy to restock after the renovation.
During: Will a bathroom be out of commission during the reno? Try to ensure family members have an alternative that works for everyone’s daily schedule. If a path to the alternate facility can avoid passing through the construction area, all the better.
After: A seasoned contractor will be sure your finished product is tidy and clean and ready for use at the end of the project. You probably have a good idea of how to populate your new space with the items that you packed up in your ‘before’ stage. But the configuration may not be exactly the same. Do you now have more space? Is the new space a different shape? You’ll want to ensure that you use your new space to the best advantage for yourself and your family. It might even be worth hiring a professional home organizer to make recommendations on the best use of the space.
7. Budget-minded finishing touches
The small details are what make a house a home. Once the big renovation projects are completed, it's time to focus on the finishing touches. Take this time to bring out your creativity and add a personal touch to your renovation. Hang some new artwork, add some greenery, or change the cabinets' hardware. If you can, you may want to look at hiring someone to provide décor ideas, but a couple of shopping trips to your local home good store might just do the trick. Whatever you do, make sure it reflects your style.
The Bottom line
With some planning and research, you can achieve the home of your dreams without breaking the bank. And most importantly, working with trusted and certified renovation contractors ensures your safety and the quality of your renovation.
Have a home renovation project in mind? Book a consultation with our home renovation experts today.
Happy renovating!
