Where do you Start?

If you listen closely, you can hear pink sinks being ripped out, wood paneling coming down and paint cans being pried open. All over this great city, we're renovating like crazy. According to statistics, far more money is being spent renovating existing houses than building new ones. When you renovate, you should do something for the house, something to raise the resale value and something for you. In other words, be practical, think about the future-and add a feature that makes you want to dance with delight each time you see it. Here's how.

If you require assistance in planning or starting your renovation, please contact us.

THE KITCHEN

Only have enough cash to upgrade one room? Make it the kitchen. Generally speaking, you can recoup 75 to 100 per cent of what you invest. Plus kitchens and bathrooms need to be upgraded more frequently than other rooms because they get a lot of traffic and because moisture makes them deteriorate faster than other areas of the house.
First of all, think about what kitchen design innovations work in your space. Putting in a second sink is expensive because of the plumbing work, and it eats up too much counter space. For a small or medium-size kitchen, a large single sink with a divider works just as well.
Dress up plain cabinets by adding handsome hardware. Single-screw knobs rather than double-screw handles, because handle widths vary greatly and a change often means drilling new holes.
Shy away from trendy items. When you list your home for sale, the realtor will likely advise you to keep things neutral so that prospective buyers can imagine themselves living in the home. If you're in love with hot pink, paint a wall that colour, don't use it for tiling.
Cabinets are a great place to cut costs, so stretch your budget by buying inexpensive ones. You can buy quality cabinets from Home Depot, IKEA and Rona. Ten years down the road, they'll still be in good shape. Expect to pay $2,500 to $4,000 (plus installation) for cabinetry and an island in a standard 10-foot-square kitchen.
In love with accent tile? Guess what: the person who buys your house will likely rip it out first thing. Everyone wants to get rid of the accent tile that's in the kitchen. Go ahead and get it if you want, but don't pay top price for fine Italian tiles unless you're planning to stay in the house for a long time.
Opening the kitchen up into the living room (or family room or dining room) is a trend that looks as if it's here to stay. Consult an architect to figure out if your plans are possible. While consultations may cost you a bit, they prevent you from making a mistake that may cost thousands to fix.
If you're dreaming of new appliances, go for it. While you likely won't make money on them when you sell your house, crisp white or stainless-steel appliances make your kitchen look terrific, plus you can take them with you when you move.

THE MAIN FLOOR

Hardwood floors continue to be in demand. Pre-finished flooring is popular because it requires less work to install and is generally easier to maintain. Avoid unusually dark floors if you plan on selling your house; this kind of trendy look becomes dated quickly.
If you've got your heart set on carpet, choose a quality brand in a neutral shade. Make sure you use a high-grade under pad, which helps the carpet wear better and makes it feel luxurious and cushy.
Want your own personal yoga room? You won't see a return on it if it's customized (think cork floors and mirrored walls), but there are ways of getting what you want without scaring off potential buyers. If your passion is to dance; the ideal floor would be hardwood, but it seems ridiculous to spend a small fortune to stamp your feet. Investigate a portable floor that can either be uncovered or pulled out when needed.
On the other hand, if you have an extra bedroom, don't cut off a chunk of it to make more closet space in an adjoining room. Enlarging a closet in your bedroom might be a great idea for you, but making another bedroom smaller is going to affect resale. Consider using the extra room for your own dressing room instead.
Crown moulding is a great way to add character to a room. But instead of custom-building it, consider purchasing prefab mouldings at a hardware store. Custom costs about $8 and up per foot, which includes labor, while a 6 3/8-inch prefab moulding is about $4 per foot. A 12-inch moulding medallion that fits around a light fixture in your foyer or dining room looks expensive but only cost around $20.

THE BATHROOM

This is the second spot on most renovation wish lists. Like the kitchen, you should get 75-100 per cent of your money back when you sell.
A rule to keep in mind: the bigger the areas, the less expensive the materials you should use. You can get a great look from a wall tile that's $3 per square foot rather than $12. There are trade-offs you need to make and this is a good one.
The same "stick with the classics" rule for the kitchen applies to the bathroom. All of the experts agreed that it's impossible to go wrong with white or off-white tile and fixtures. Sound dull? Just personalize the space with other elements (such as an elegant mirror or a funky shower curtain) that are easy to replace.
Two of the big trends in sinks - putting two sinks in the vanity and having a "vessel sink" that sits atop the counter - probably aren't a great idea. Both take up a lot of space and a lot of cash.
Another current trend is to take away the tub and replace it with a shower stall. "Don't", because this will seriously limit the number of people the room will appeal to. If you can afford the space for a separate shower stall and bathtub, go for it-it's widely considered a great combination. But the tried-and-true bathtub and shower duo is still a winner.
One hot (literally) trend; heated floors. An average-size heated bathroom floor costs $600-$1,000. There are a variety of heating systems, and they are usually installed under tile.
Bathroom lighting is key. Try putting in halogen pot lights to provide most of the light. Then for a luxe look, supplement them with other lights, such as wall sconces on either side of the mirror. For an inexpensive quick change, replace your light switch with a dimmer.
Dreaming of a Jacuzzi tub? Getting one won't increase your home's resale value, but if it fits with the decor, it won't hurt, either. Just don't plunk it in the basement for the sake of having one.

THE HIDDEN AREAS: Basement & heating & electrical systems

If you spend $20 - 40,000 finishing your basement, you can expect a tidy profit at today's market, when you sell. Still, a finished basement adds valuable storage and living space to your home, and proper insulation may cut your energy costs. The bottom line: this is a good spot to renovate using less expensive materials.
A well thought out plan for your basement might include a family room or home theatre area, a spare bedroom, some storage area and a bathroom. Most basement developments are not worth a lick if you don't include a bathroom. With a variety of materials available, designing your basement can either be a challenge or a great project to work on together.
Upgrading an old electrical system is a smart idea. There are always issues about upgrading, but keep in mind that you may have a difficult time getting insurance if your electrical system is truly ancient.
Energy efficiency is a definite plus, and there are many items on the market that can help you achieve your goal. Beware: upgrading past a certain point won't necessarily mean big resale bucks. Many people who've invested thousands in solar or other energy systems, find potential buyers turned off by an unfamiliar setup.

Finally - FLIP IT

We've all heard stories about genius renovators who fixed up a house and sold the place for five times what they paid. This quick turnover is called a "flip." Can you do it too?
Evaluate the gamble.
Flips involve risks. If the market changes dramatically, you may be caught with a lower-than-normal demand and a less-than-ideal resale price.
Consider location...
To make money on a reno, the key step is buying a house that is under priced for its area.
Crunch the numbers...
If you're considering a major renovation, have a real estate agent check out your house. Ask them to look up what the most expensive house in your area sold for. The agent will likely do this for free in the hopes you'll someday list your home with them. You don't want to price your house out of the neighborhood. In other words, don't put a $50,000 kitchen in a $90,000 starter home in an area that tops out at $125,000.
Do a reality check...
If all you want to do is get a good price for your newly listed home, think fix-up not overhaul. In general, you don't need to spend a lot to transform a home. But a little bit of fresh paint can make a dramatic difference.