How You Can Save Money Renovating

Home renovations are going to cost money—there’s really no way around it. Whether you’re changing out the kitchen backsplash or completely gutting your bathroom, things can add up when it comes to materials, time, and services. But that doesn’t mean you need to spend to the max and get yourself into financial trouble. 


We spoke with Laurie Cole, owner, builder, and principal at New View Designs By Laurie Cole Inc. in Fredericton, New Brunswick; and Erin Rochon, owner of Erin Rochon Designs in Ottawa, Ontario, to get their expert tips on how you can save money when doing your home renovations.



Be realistic and honest with yourself

It would be lovely if there were no limits to any of our renovations. Vault those ceilings, go with hardwood floors, gut that kitchen and turn it into something envied by the pros! But being realistic with what your family needs can help save money in the long run, says Cole. 

“Decide what’s realistic for your family. You may want hardwood, but if you have kids or pets, having hardwood may not stand up to the wear and tear of a busy family life. A good quality laminate or vinyl plank floor are great options and can not only save you thousands of dollars, but last longer.” 


This realism also applies to your budget. Cole says unrealistic expectations of labour and material costs is a common reason people go over budget during home renovations. Consider options that might be one step below your desired quality level and see if they’ll work with your plans.


“Even though you may want quartz countertops and expensive backsplashes, your budget may not allow for it so explore other options such as laminate or concrete or other man made products,” she suggests. “You don’t need all high end materials to pull off a luxurious or high end look.”



Identify your priorities

Some areas of the renovation may be more important to you than others, which is why it’s important to decide what exactly you want to accomplish with your renos and where you’re willing to spend more.


Cole says it’s best to “decide what items you absolutely cannot live without, then select other less expensive items to work with them.” She also recommends looking at your long-term plans for the home and how your renovations may play into them. 


“Think about what you want to achieve with the renovation. Do you want a new look? Is your lifestyle or family life changing? Or perhaps you’re getting ready to sell. All of these things will play a part in what type of renovation you want and the budget you will need. Do some research and decide which upgrades will best suit your home.”


It’s a good idea to speak with a REALTOR® from your area to get a sense of what renovations may be more desirable to buyers. Jennifer Queen, a real estate agent and REALTOR® with The Queen Team in Winnipeg, Manitoba, previously told us there’s a ceiling price for every neighbourhood. 


“We need to be careful not to over-improve and assume a buyer will be willing to pay for stone countertops and luxury appliances when the norm for the neighbourhood is a laminate countertop with mid-range appliances,” she cautions. “Always consult with your REALTOR® before taking on any renovations, as they’ll be able to advise on what buyers are expecting to see when they tour homes in the neighbourhood, and what renovations are worthwhile.”


For design and décor, Rochon says “take time to evaluate where you can save and where to splurge.”


“Splurge on fundamentals like sofas and accent chairs, and save on items like dressers, textiles, or side tables. Make sure to shop sales to find great deals!”



Plan ahead and keep things simple

You may have a loose vision of what you’d like to achieve with your renovations, but without a solid, easy-to-follow plan, you run the risk of going over budget and creating an uncoordinated space. Create a plan and stick to it, Cole stresses. Oh, and don’t change your mind midway through—she says this is one of the most common reasons people go over budget.


“Having a solid plan before beginning your project is crucial in getting what you want out of the project,” Cole stresses. “You can do one room at a time, but having an overall plan in place will allow there to be consistency throughout the home. And keep it simple! An overcomplicated design can end up looking too busy and cost you more than you planned.”


Planning ahead also means getting in touch with a contractor well before you want to start your renovations. The more time you give the professionals to figure out your vision, the better.


“Many people reach out right before they want to start their project,” Cole continues. “This is unrealistic because 1) it takes time to come up with the right plan and 2) many contractors are booked months in advance and not able to do the work. The more time a contractor has to plan and the more flexible your schedule is, the more likely you will get the contractor you want.”


Rochon agrees that a lack of planning can cause you to go over budget. She emphasizes the importance of having a clear vision before getting started when it comes to designing your space. 


“Create a realistic budget with a small allowance to cover any unexpected issues. Lastly, create a mood board to give a visual and help you stay focused on the goal for your space.”



Confirm all your materials and appliances ahead of time

Your plan and vision may include specific materials or features, but if they’re not available when you go to do your renovations, you could end up having to make an expensive pivot. 


“Ensure the materials you’re using are readily available before you start,” Cole says. “You should always get extra material in case you miscalculate or materials get damaged.”


It’s a similar sentiment when it comes to appliances or other features being added. Follow the old adage of, “measure twice, cut once.”

“If you’re buying new appliances make sure you know the sizes before you begin,” Cole says. “There’s nothing worse than getting to the finish line and then realizing your appliances won’t fit.” 



DIY is possible, but make sure you’re really prepared to do it

Depending on the work that needs to be done, taking the do-it-yourself route could be a way for you to save money—but only if you know what you’re doing. Now is not the time to try it for the first time, at least not if you want to cut down on costs. 


“If you’re a DIY’er, make sure you have the time to devote to it and are practiced at the skills you need to complete the project so there are no do-overs,” Cole says, noting this is another scenario where you need to be honest with yourself. “Are you handy, do you have the necessary skills, time and patience to do it yourself? Although you may think you’re saving money by doing it yourself, really consider the sacrifice of time you are willing to make and if you’re skilled enough to do the reno the way you envisioned it. If the answer is yes then go for it. If not, hire a professional.”


Even if you’d like to execute the work yourself, she suggests hiring a designer to work with you during the initial planning stages.

“These people are trained and skilled in making the most out of your space and able to help you achieve the vision you have for your project. This important step will save you money in the long run.”

Wondering if you should DIY your kitchen renovation? We got some tips from the pros on how you can decide whether it’s doable. 

Going the DIY route is a bit easier when it comes to the design and décor elements of your project. In fact, Rochon suggests a great way to save money is checking out your local thrift stores and working with what you already have. 


“A fabulous way to save money is to consider thrifting and DIY-ing furniture or home décor to style your space,” she says. “Thrifting is a great way to find unique and inexpensive home décor. Think of DIY-ing furniture that may not work with your new design rather than buying new. A new coat of paint can easily transform an outdated piece of furniture.”

If you’re opting for the DIY route, make sure you avoid these six common DIY mistakes.



Consider hiring professionals to help save money

Cole and Rochon agree that hiring a reputable professional is the one area you should not skimp on when it comes to completing your home renovations. Though it’s an upfront cost, it can save you massive headaches down the line. 


“With the current construction boom, some people are deciding to go their own way, but they may not have the expertise or experience required to complete a renovation project properly,” Cole explains. “It’s always good to check out who you are considering for the project by looking at their previous work, ensuring they have insurance, training, and experience.”

It’s important to make sure you and your contractor are on the same page. Check out our REALTOR.ca Living Room article on 10 important questions to ask a potential contractor.

From a design perspective, Rochon suggests hiring an interior decorator to make sure your plans are doable, saying “they’ll help you plan, provide guidance, and can save you from making costly mistakes!”


Ultimately, the way to save during home renovations comes down to a few important points: plan, budget, and commit to doing it right. Though you may think there are ways to cut corners right now, these things could come back to bite you in the future. Speak with the right professional to get an idea of what will go into the project, and set realistic expectations for the entire process. After all, the whole point of renovating your home is to leave it better than it was before!


Source: By How You Can Save Money When Renovating - Tips From the Pros - REALTOR.ca

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A Sales Job

By Jeff Neumann • August 25, 2023
My high school days are almost 35 years behind me, so my recollection of the curriculum may be less perfect. I recall loving geography, struggling with French, and everything else falling somewhere in between. Curiously, two subjects I do not recall being addressed are the two I would argue to have the largest impact on a majority of students’ futures – personal finance and sales. The former is obvious. If we are not taught the value of money, the difference between good and bad debt, and both the magic and terror of compounding interest, in a controlled environment, we are left to inherit the habits of those closest to us. If my parents bought their vacations on credit, I am more likely to do the same. The second is perhaps less obvious. The word ‘sales’ conjures up stereotypes. Mention the word and many will think of cars, insurance, or real estate, not considering that the word may also apply to them. However, everyone is selling something at one time or another. We all understand that when we go to a car dealership to look at cars, the person approaching us in the parking lot is a salesperson. Before she got to the point where she was helping you select a ride, did she not have to convince her prospective employer that she would be a good hire? If she came to the position with a proven track record, did her employer not have to convince her to choose to work at his dealership? Isn’t a lawyer selling her interpretation of the law to the judge or jury? Isn't a city planner trying to sell his vision of a development to city council? Isn’t a politician selling her vision of the future to the electorate? If you are married, was there not some form of sales going on at some point in that relationship? (And no, being married more than once is not necessarily an indicator of superior sales skills, rather perhaps a sign of poor post-sale attention.) The reality is, at some point in our lives, we are all salespeople. Why then, would we not invest some effort into understanding the psychology behind sales? Why do we or don’t we buy what someone is selling? What qualities should I present to maximize the likelihood of making a sale? The educational system is largely silent on the matter and the void has been filled by authors – ironically, selling books on selling. I’ve always wondered why so little educational attention is paid to a career that affects so many, but from a societal point of view, perhaps this is a good thing. A career in sales may suffer from a lack of formal specification (until we are hired) but it also allows no excuses. Should I choose a career in sales? No one will have a head start because they went to a better school. I will neither suffer from nor enjoy the benefits of seniority – I will reap what I sew. The tools available to me are also available to my competitors. Just when I begin to think that my circumstances are an inhibitor to my success, someone in a demonstrably disadvantaged position will surpass me leaving me looking for another excuse. The sooner I realize I don’t have one, the better off I will be. Thanks for reading, Jeff Neumann
A pile of hundred dollar bills.

Betting on Yourself

By Jeff Neumann • August 25, 2023
In her graphic design program, my youngest daughter was taught early and reminded often not to work for free. What may at first blush seem like an opportunity to impress a potential employer, is more often a dead end after the free sample has been provided. It is a train of thought common in many professions, mine included, and is often accompanied by catch phrases such as: “ If you don’t value your work, why should someone else?” True enough. But just like all good rules, they are on occasion best broken. A friend of mine who operates a large company with hundreds of employees recounted his experience in having hired two high level managers for different departments. His hires were, and remain, on opposite ends of the philosophical spectrum when it comes to negotiating your role with your employer. To wit. John and Mary, (not their real names) had equally impressive educational and professional backgrounds. They both knew their subject matter well, interviewed well, and both appeared to be perfect fits for the needs of the company. John and Mary were both offered employment contracts. This is where their similarities ended. John was a ‘ cross your t’s and dot your i’s’ type, and so his contract was meticulously crafted before eventually being signed by both parties. A good rule of thumb, in business as in life, is to avoid getting into anything you don’t know how you are going to get out of. John's method passed this test, and it would surely be the favoured approach if you sought the opinion of an employment lawyer. Mary, on the other hand, took a different approach. “ Why don’t you pay me a nominal salary for a year, and let's see what I can do for you. If it works out, we can talk about compensation then”. My daughter’s professors would be aghast. Twelve months after their respective hiring, John had moved on, unable to deliver on the high expectations he himself had set. Mary on the other hand had become indispensable, and eventually entered into an employment contract far in excess of anything she could have negotiated at the onset of her tenure. Mary had bet on herself, and she won. Her employer however, also won. Unlike professional sports, the business world has no salary cap. If an employee can deliver exceptional results, the employer can deliver exceptional remuneration. If he or she doesn’t, someone else will. I wouldn’t go so far as to offer this as professional advice. Not everyone can be a Mary, and in fact, most of us aren’t. But if you are going to be excellent at something, betting on yourself is not a bad way to go. Thanks for reading, Jeff Neumann

Passion and Process

By Jeff Neumann • August 25, 2023
Success is a nebulous term. By societal measure success is often equated with financial achievement. If making money is your primary objective, setting out to achieve that result can be an exercise in futility. Conversely, examples abound of passionate people, even in the most obscure arenas, reaching the pinnacle of both their profession and their bank account. Passion and process it would seem, is the egg that comes before the chicken. This is not to suggest financial achievement ought to be a goal at all, for as we are often reminded, money cannot buy happiness. (I’m unconvinced poverty can either.) By his own estimation, Bruce Springsteen doesn’t have much of a voice. So how is it that a fella whose crooning can be mistaken for the sound your cat makes when you step on his tail can manage to sell 64 million albums? Better voices are kicked off of America’s Got Talent every week. How is it that he can fill stadiums at will? Two things come to mind. Firstly, it is not his voice that people pay to hear, it is the passion he pours into his product – and passion is contagious. Secondly, most of us, if placed in his shoes, would have quit. Even the most obviously gifted are rejected on a regular basis. Between when he first picked up a guitar at 16, to becoming an overnight success at 26, how many times you figure Springsteen was told ‘you can’t’ -‘you aren’t good enough’ -‘no’ ? Whether you are a fan or not, (I happen to be) we can agree that his is a remarkable example of diligently and relentlessly crafting your product. Put another way, he worked on his process. Eventually, the results followed. He is also the embodiment of the John Wooden plea, ‘do not let what you cannot do, interfere with what you can do.’ He recognized his weakness -singing -, and overcame it with song writing, band leading, and energy. “ I would argue that the most successful people have a process, and stick to it longer than their competitors. “ In my profession, as I would guess in most, individuals often prosper despite being seemingly ill equipped for the task. Conversely, countless languish despite being blessed with the attributes most of us would have thought would serve them well. What is the defining quality? I would argue that the most successful people have a process, and stick to it longer than their competitors. Those who do so with conviction and energy seem to reach a little higher. Thanks for reading, Jeff Neumann

The High Cost of Poor Quality

By Jeff Neumann • August 25, 2023
Six years ago, my wife and I traveled with our kids to Italy, and as part of a broader vacation, spent a week in an apartment in Positano. By North American comfort standards, the home was austere. What it lacked creature comforts – tiny shower, lumpy beds, basic kitchen, it made up for with intangibles – fresh figs in the backyard, and a view of the Mediterranean in the front. It was, and remains, our favourite destination of all time, though we have yet to return. Giovanni the landlord was a gem. The apartment we rented, served as his family home in the winter. In the summer, he moves up the hill a kilometre to operate a small inn and restaurant with his siblings. Aside from the beauty and peacefulness of the surroundings, one thing will forever stick with me about the experience: the home has been in Giovanni's family since it was built……600 years ago. Aside from the obvious constraints that rate of home turnover would put on my profession, there are larger takeaways from the experience. Years ago family friends from Switzerland paid us a visit on summer vacation. As we were showing them around the house and trying to help them feel at home, I noticed the Swiss dad gently swinging a door – a standard series 800 door that college kids like to put their fists through at parties. He finished with a light tap, then looked at me: is this hollow? He wasn't meaning to insult me personally necessarily, but his genuine amazement spoke volumes. Yes it is. That is how we do it in Canada came my honest but insufficient answer. I had been to his home. It was clearly built to withstand world war 3. Mine on the other hand, made me nervous on a stormy night. His home will look the same in a century. I on the other hand am interviewing roofers at the ten year mark. Before I give in to the obvious low hanging fruit on the blame tree – the builder- perhaps some personal reflection on my habits as a consumer would be fair. Generally, when presented with the choice between bigger and nicer today, or quality that will last forever, immediate gratification wins the day. Simply put, we as consumers have a tendency to choose style over substance. Giovanni would be aghast. Societal (and hopefully my personal) carbon footprint awareness has grown in recent years, but I think we – (and definitely me) – still have a long way to go. We often convince ourselves that we cannot afford quality that will last forever. What we don't always consider is the true cost of poor quality. Thanks for reading, Jeff Neumann