If you are like most people, spending the past two years at home has taught you one thing: you need more room in your house! But you may be wondering if it’s worth spending a lot of money on a renovation project and will it pay off.
How Much Value Does a Renovation Add to Your House?
Home renovations do add value, but not all renovations are treated equally. In fact, when it comes to home renovations in Toronto, some can increase your property’s value while others may actually decrease it.
To answer the million-dollar question of “Are house extensions worth it?”, we’ll take a closer look at three types of home renovations that add value to your home.
One of the top renovation projects seen recently is a full addition to a home. This type of project is gaining in popularity due to the switch to working from home and distanced learning. Families are wanting to add a new living space, home office, entertainment room, or even an ensuite for visiting family and friends once restrictions are lifted.
Avoid the Stress and Expenses of Moving
Home additions are required when a larger living arrangement is needed but moving to a bigger home entails expense and stress. By saving on moving expenses, families are redesigning their homes into a more functional and aesthetically appealing house. Many people have spent time, effort, and money into having their home become an oasis they are unwilling to give up.
Adding a Home Office for Work-from-Home, Home Theatre, Sunrooms, etc.
In certain job fields, working from home has become a more permanent position, and the need for an addition for a home office is now a necessity. Furthermore, with fitness centres having limited hours, the home gym industry has seen a rise in home renovations for private gyms.
For other households, family time has expanded into state-of-the-art home theatres or gaming rooms. And nature-loving families are yearning to bring the outdoors in with a sunroom or conservatory.
Increasing the Area of the House for a Growing Family
Recent years have seen an increase in the population rate as pandemic babies are born. Homes with one or two bedrooms quickly need to accommodate this change in the family dynamics with additions being built for nurseries.
Full Additions Done by Elite Construction and Renovations
If you are finding that your home is becoming a bit too congested for your family, contact the building experts at Elite Construction and Renovations. Our knowledgeable design team will work with you to create the perfect addition to complement your home and family.
Basement underpinning refers to the reinforcement of the existing foundation of a house. This is done to fix weak foundations, add strength to the walls, or bring the structure up to code. Underpinning is done by digging under the newer foundation to ensure the structure of the house remains intact.
Future Repairs, Upgrades, and Waterproofing Made Easy
By renovating the basement, a house gains more space for a family room, laundry room, or even a play area. Underpinning the basement grants better access for any electrical or plumbing upgrades or repairs. This can be an advantage for older homes that may experience spring run-off as the basement can be made waterproof.
Adds Depth and Stability to the Foundation
Underpinning is done to raise the height of the basement ceiling if the homeowner plans to renovate the basement into living quarters. Older homes often have low ceilings in the basement as it was mainly used for cold storage or as a basic utility area. With added height to the basement ceiling, the value of your home will rise. Adding an extra bedroom or living room in the basement can also help improve the value.
New Space to Use as a Home Office
More living space with underpinning can transform a once deserted, empty basement into a fully equipped home office. Add light fixtures and furnishings to create a working home office complete with a high-tech data centre.
Basement Underpinning Done by Elite Construction and Renovations
For basement underpinning in Toronto, rely on the experience of the Elite Construction and Renovations team. Our professionals can transform your basement into a beautiful living addition with our underpinning services.
Rounding out the most valuable home renovations projects is remodelling jobs. Whether it entails a kitchen upgrade, redesigning the layout of the second floor, or establishing living space in the basement, remodelling can be done quickly and efficiently.
Complete Remodel to Fit Growing Family Needs
Sometimes a remodelling project can become an essential need for a growing family. This may see walls demolished, along with the entire second floor to make way for a bigger play space, nursery, or master bedroom.
Customization Is Possible
Remodelling is the perfect solution to update older homes. Customization allows homeowners to have more input into turning their house into a home. By upgrading the house with homeowners’ personal style, the finished project reflects them as a couple or family.
Increases Property Value in the Long Run
As with any form of renovation, remodelling also adds value to a home. From redesigning rooms to updating fixtures, the value of a property is increased, sometimes tenfold depending on the project.
Updating the Home with New Technology and Functionality
Remodelling is a prime opportunity to bring the workings of the house into the 21st century with the installation of modern technology. More and more homes are being retrofitted with smart home devices. These devices include thermostats, security systems, light controls, and safety alarms.
Contact Elite Construction and Renovations for a Quote
At Elite Construction and Renovations, we have a team of skilled professionals ready to help you realize the home of your dreams is literally within reach. Whether your home requires a full addition, basement underpinning, or remodelling project, we have the expertise and knowledge to fulfill any job quickly without compromising the integrity of your home. Contact us today!
ABOUT THE AUTHOR
Jay McDonald, general contractor and owner of Elite Construction & Renovations, has over 20 years of construction experience. He has completed various Ontario Building Code and Business Management courses from George Brown College and has managed over $50 million-dollars-worth of construction in his career.