If You’re Renovating This Year, Find Out the Best Bang for YOUR Buck
After a challenging 2020, it’s time to get the most value for your money in 2021
With the COVID-19 pandemic forcing many of us to work remotely, the way we look and use our homes has changed. At Focus Construction, we’ve already looked at different renovations to your home office and how crucial it is to have a functional workspace, but where else can you extract value from other renovations?
Kitchen renovations always yield the highest ROI. One of the first options you should consider when planning your kitchen renovation is building an island. If you have the space, an island is a great way to add more surface space and storage to your home. Enhancing your kitchen with an island can add more desk area for learning by your children, or for your own work.
Creative ways to find more storage is also an important consideration when renovating. Find out if you can add space in these possibly overlooked areas:
- Under the stairs; or in the stairs
- Custom cabinetry or shelving around the TV or along walls
- Modern desks, innovative beds, or through storage boxes under beds
Hydronic Radiant Heating
This is a great, economical way to heat your home. This type of heating works through the installation of water pipes in your subfloor and then pouring concrete overtop, allowing the water in the pipes to heat up the concrete and act as one large radiator. Many types of flooring are compatible with Hydronic Radiant Heating (tile, vinyl, certain hard wood and engineered wood), so explore your options to see if it could work in your home.
Hydronic Radiant Heating is advantageous because it delivers an even heat and comes from the ground up (and heat rises). This means that your feet will always be warm, and so will the air.
While the work involved is expensive and should only be considered in a large-scale renovation, the trade-off for the initial up-front expense is a dramatic reduction in heating costs.
Windows and Doors
Installing new energy efficient windows and doors will save money in the long run, reduce drafts and improve your home’s aesthetics. Why replace old windows? They have poor R-Values, the energy efficiency rating and insulation value, leaking plenty of heat in the winter; or cool air in the summer.
Consider installing a basement rental unit if you’re looking to earn some passive income. Estimate the cost of this renovation to be around $160-$220 per square foot, dependent on the degree of quality that you prefer.
These types of buildings are beginning to catch on in the GTA after becoming popular in the Vancouver area.
A laneway house is a secondary dwelling detached from the main house. Laneway suites are a specific type of detached secondary suite, which are ancillary to the principal residence and face a residential laneway.
Most laneway housing is installed above a garage, and could also be considered a new small house. A laneway suite is smaller than the main home and is located at the rear of a residential lot with all of its services (water, sewer, electricity, gas, garbage, mail, and emergency services) sourced from the principal residence and not the laneway. Laneway suites are commonly used for family members or as a rental unit, but they remain under ownership of the main house and are not severable.
Before constructing either, check with your city-by laws to see if your property qualifies.
Still have questions or are interested in one of the renovations above? Contact us at Focus Construction so that we can help you make the best renovation decision for you and your home.