Getting The Most Out of Renovations

Refurbishing and renovating are very pricey, yet, because of the rise of home decoration shows, lots of property owner believe that a renovation will instantly add value to their home.

The problem is that you cannot rely on a dollar returned for every dollar invested. To help you make better financial choices, here are four pointers to assist you in planning effective house restorations.

1) Repairs first! The most economical way to add value to your home is to just fix what has to be fixed. Focusing on areas that are in desperate need of attention will provide the highest ROI for your restoration dollar. For instance: dealing with a leaking roof, replacing broken tiles and rewiring an outdated electrical system add value even if they do not look sexy. A fresh coat of paint can do wonders and shows prospective buyers you care about the look and upkeep of your home. It is recommended to hire a professional Vancouver painting company for this.

  2) Remodel based upon YOUR needs Plan to remain in your house a minimum of 5 years after renovating. Refurbished kitchen areas and restrooms will certainly increase your home’s value, but not by as much as the renos cost. This doesn’t mean you shouldn't consider restorations, but you need to think about the reasons for the reno. So consider your current and future needs and then plan your renos based on these requirements.

  3) Build an add-on Larger restorations, such as an addition, are lengthy and pricey but can be a smart option for a house you wish to stay in for a long time. Think about working with a professional organizer to identify if you're using your current space to optimal potential. If, after organizing and de-cluttering, you feel there's insufficient room, you may want to add a second floor or a ground-level addition to your house.

 

  4) Go green More than just reducing your carbon footprint, going green can put cash back in your wallet. By renovating for optimum heat and energy performance you can conserve hundreds, even thousands on your heating, electricity and water costs.

Even better, there are usually tax breaks for undertaking this kind of remodeling. It is worthwhile having an Energy Audit done prior to remodeling. The cost of an audit -- typically $200-to-$800, depending on where you live – is worthwhile as it will provide a reasonable idea of which upgrades will benefit you most both financially and in regards to comfort and resale.

How Much Should You Spend On Paint?

Paint is paint…right? You know there are different types of house paint – oil and acrylic – and finishes, such as eggshell and high-gloss, but is there a valid reason for spending $50 on a gallon of paint instead of $25? One thing that is an absolute must is good preparations before painting.

What’s The Difference? 

First, let’s clear up the confusion about names: oil-based house paint is also called alkyd and water-based paints are either acrylic or latex. Water-based paints are faster-drying, easier to clean up and less smelly than alkyds. However, alkyds are, in general, more durable and give you a finish that is harder and glossier.

As for finishes, there is a tradition in North America of using high-gloss finishes only for areas subject to abuse or those where lots of cleaning is to be expected, such as window sills and bathroom and kitchen walls. But, really, the choice is up to you. If you like a glossy finish in your living room, go ahead! And bear in mind that many high-quality, non-glossy finishes now offer excellent durability.

What Does More Money Get You? 

You get what you pay for…right? Well, that’s usually the case. However, as with most things you purchase, a little research can help you in determining whether or not those extra dollars are really worth it.

One of the best data bases for paint value is Consumer Reports. They regularly evaluate dozens of paints from a variety of manufacturers and give objective information on coverage, hiding power, durability, clean-up and so on. I am sure many people would be surprised to learn that Brand X’s Premium red paint behaves quite differently from its blue paint.

One thing you do get with more expensive paints is a longer warranty. Again, this is something you need to investigate because not all warranties are the same. Read the fine print (there can be lots of it!) to find out just what a warranty covers.

Lifetime Paint Warranties 

Does a lifetime warranty mean that you will get your home repainted for free if it is fading noticeably in 20 or 30 years? Absolutely not! Excessive fading is covered by lifetime warranties, but excessive fading isn’t the same as no fading. All paints fade over time. Premium paints will maintain their fresh look and colour saturation longer than will cheaper paints, but not a whole lot longer. So…read the warranties and balance what it with what you need or expect from the paint.

So…Is It Worth It? 

Here it depends on your needs. Premium paints do offer advantages. Generally, they are thicker and more elastic and will withstand weather at least somewhat better than bargain paint. You can expect better hiding power and improved resistance to peeling from more expensive paints.

But, as for a lifetime warranty…are you likely to stay in the same house forever? And, if you do, would you want it to be the same colour for forty or fifty years? Most people will answer no to both questions. So it all depends on your needs. In the end, you have to make a choice and the best way to do that is to think about what it is you really want in a paint and do the research.

For peace of mind and assurance that the paint job will last as long as possible, consult with a professional. Heritage Painting & Decorating are established house painters worth looking up.