Make sure you know what lies ahead when you decide to renovate your new home in Canada. From the finances to the finished product and everything in between, it will take a lot of planning.
Moving your family from the UK to Canada can be a financially daunting challenge. Expenses such as immigration fees and moving costs can mount up and can eat into your property budget.
For many buying a property for a bargain price can help keep you plans on track financially, even if some extensive renovations are required to get the place up to scratch. Depending on your DIY skills you could even do some of the work yourself, saving even more money in the process. Plus there are other benefits to be had: the chance to spend time with your family working together on something you can really take pride in; and the opportunity to tailor your home to your own tastes and needs.
Before committing to a purchase you conduct a comprehensive survey and even consult an architect to assess the property’s structure etc.
Do Your Homework
The last thing you need when taking on a renovation project in another country is a headache caused by unexpected issues that require further investment. These unpleasant surprises can begin to mount and before you know it the property could end up costing more than you bargained for.
Potential pitfalls can be easily avoided if you go into the process with your eyes wide open. Ensure that before committing to a purchase you conduct a comprehensive survey and even consult an architect to assess the property’s structure, electronics and windows etc. The architect will also be able to advise you on the contracting process for the part of Canada you have chosen to reside, and the relevant authorities you might need to obtain planning permission from.
Grants and rebates for renovations
Aside from the potential cost savings of purchasing a wreck, as opposed to a brand new home, there are certain grants and rebates available in Canada that make renovating an even more attractive option – the source of these grants range from the federal to provincial governments. There are also rebates available from local utility companies, particularly for environmentally friendly renovations. For example, the Canadian government will provide tax rebates on the purchase of ‘Energy Star’ certified electrical products – a recent initiative to help encourage home owners in Canada to make energy efficient choices.
If you decide you need some expert help with your renovations, make sure you ask several different builders to quote for the work
Get several quotes
If you decide you need some expert help with your renovations, make sure you ask several different builders to quote for the work, ensuring the quotation is fully detailed with the precise costs of each component of the restoration, so that you can easily compare like for like. Remember the cheapest option isn’t always the best, because you need to confirm the quality of the materials being used – buy cheap, buy twice as they say. If you are using an architect they will be able to provide valuable assistance around this. If you strike up a good relationship with them and/or the building you choose to use company, you will find it pays dividends.
The Canada Buying Guide takes you through each stage of the property buying process, with practical recommendations from our experts who have been through the process themselves. The guide will help you to: