Buying a Home  > Buying A Fixer-Upper

Planning a Successful Renovation

Be informed. Don't rush into renovations. Before you pick up a hammer, pick up a book or a few publications on home renovation. Talk to friends and neighbours who have renovated. Get as much information as you can. Explore all the options. Make notes and drawings.

Remember the carpenter's creed: Measure twice, cut once. Mistakes on paper are easy and cheap to fix. Mistakes on the job site are much harder to correct ­and costly.

Is your renovation practical?

Maintenance renovations are not really a choice: you need to maintain your house to protect your investment. But lifestyle renovations, and even some retrofit renovation ideas, may not stand up to hard scrutiny. Be clear about your expectations. Learn when to draw the line between what is desirable and what is essential.

Almost any renovation you undertake will add to or, at least, protect the equity in your home, but kitchen and bathroom renovations and painting will normally give you the greatest payback when you come to sell. Any resulting increase in property taxes and insurance premiums is usually minor in comparison.

to renovate before selling ~ keep these 'payback' figures in mind!