Should You Renovate?

In some cases, it is very obvious that renovations and remodelling should be done and that the old needs to go. However, in many instances people are unsure of whether or not their home is actually in need of renovation services. Generally speaking, the people who are not sure of whether or not they should have work done are people with homes that are 15 years old or older. Some homes are older, but they have been kept in pristine condition. This often confuses people and leaves them undecided about what their next step should be.

How do I know?

There is no way to definitively know. However, you can decide pretty easily. If your home is <20 years old and has been occupied solely by your family, then it is unlikely that you will NEED renovations. This is not to say that you cannot benefit from having them done, however many people are not focused on this. If your home is >10 years old and has been occupied by tenants, it is possible that you may need renovations.

Depending on what kind of tenants you had, renovations may be necessary at any given point. Renters often do not keep the home in as good of a condition as homeowners. This causes faster deterioration, and in many cases warrants a home remodelling project.

Get more opinions

When we focus on things too intensively, we become blind-sighted and develop tunnel vision. It is imperative to get multiple opinions about your home before you make any conclusions. Many homeowners fool themselves into thinking they need/don’t need renovations when in fact the opposite is true. Get whomever you can trust to give you their honest opinion of whether or not they would live in or purchase your home given its current state.

Get an appraisal

Lastly, you can get an appraisal. To be fair, appraisers are not in the business of determining whether or not a house needs to be renovated. However, they are in the business of determining the value of a home. The value of the home is directly correlated to how new the home is in terms of things like kitchensbathrooms, and basements.