Not all renovations are worth it when compared to your options. The changes that make a kitchen restaurant grade are appreciated by the chef in the family, but it may not raise the home’s resale value. Its value is even worse when you consider how often the average family eats out. If your family is constantly gathered around the dining room table to socialize, consider renovating your living spaces so that they are better utilized instead of revamping the kitchen. Do not engage in a $15,000 kitchen renovation with the hope of raising the house’s sale value that much – it won’t.
Another factor to consider before you renovate is the cost of a comparable home to your own that already has the features you want to add. If the renovation costs $20,000 but buying a new home with that mother in law suite or fancy kitchen costs $35,000 more, renovating makes sense. If renovating your home to add two more bedrooms costs $50,000 and you can buy a home with more bedrooms for only $40,000 more, it is probably worthwhile to move.
Don’t neglect the option of making a number of small improvements instead of a large renovation. You could dramatically improve a bathroom by replacing the mirror, faucets, vanity and shower head instead of ripping out plumbing and walls to build essentially a whole new bathroom. Look at ways you could improve the lighting and décor of a room to give you more breathing room before you plan on ripping out a wall. Research ways that you could change the layout of your kitchen to improve the utilization of space before you give up the breakfast nook to make the kitchen feel bigger.
Discuss your options with a Calgary home renovations firm. You may find that a series of smaller changes will yield the home improvements you want for a fraction of the standard rehab project’s cost.