Your dream renovation

The lure of a stunning gourmet kitchen or sparkling spa-style bathroom may have you chomping at the bit to begin a home renovation. But if you heed the advice of experienced renovators, pre-planning and advanced preparation are the secrets to renovation success. Here’s a helpful checklist to get your renovation started on the right track:

  • Decide what you want to do

    For most people, this is the fun part – flipping through magazines and watching home decorating shows to get inspired. But it is also one of the most critical phases in any home renovation.

  • Prepare a realistic budget

    Determine how much you are prepared to spend on your renovation. Remember to boost your budget by at least 10% for unexpected costs.

  • Arrange for financing

    Get financing in place early so that you can plan your renovation with confidence. Leveraging the equity in your home is often a good option. As a
    secured loan, you can usually obtain an attractive interest rate and with flexible repayments. Other alternatives include refinancing your existing
    mortgage or arranging for a second mortgage on your home. To obtain the best possible terms, be sure to work with an independent mortgage broker
    who can arrange competitive financing from a number of competing lending institutions.

  • Select the right team

    You’ll want to entrust your project to people known for their quality of work. Ask for recommendations from friends and family, interview prospective
    candidates and always check references.

  • Stick with your plan

    Your contractor, who does the construction or subcontracts it to other trades people, will work with you or your designer to implement your plan.
    With a sound plan, reasonable budget, financing in place and a team that you trust, your renovation can get off on the right track.

    This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

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    About the Author

    Tracy Head and Laurie Baird help busy families find mortgage solutions. Together they have more than 45 years of experience in the mortgage industry.

    With today’s increasingly complicated mortgage rules, Tracy and Laurie spend time getting to know the people they work with and help them to better understand the mortgage process. They support their clients before, during, and after their mortgage is in place.

    Tracy and Laurie work closely with their clients, offering advice and options. With access to more than 40 different lenders, Tracy and Laurie are able to assist with residential, commercial, and reverse mortgages in order to match the needs of their clients with the right mortgage package.

    They work closely with their clients to find the right fit, and are around to provide support for years down the road!

    Contact them at 250-862-1806 or visit www.okanaganmortgages.com

    Visit their blog at www.okanaganmortgages.com/blog


    The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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