Add Value to Your Home in Toronto with an Addition
Add Value to Your Toronto Home with an Addition
Many homeowners want to create a new space without the hassle of moving. With the government offering several financing options and tax rebates, now may be the ideal time if you’re considering a Toronto home addition.
Ask Yourself what the Reason Is for Your Home Addition
Carrying out a home extension or addition takes planning and commitment. The timeline for such an undertaking is longer than it is for other types of renovations and the resources involved much more complex; the funds required for a high quality, upscale addition can easily reach six figures. Therefore, you should define what it is you want to get out of your home addition project and ask yourself how committed you are to the entire process. Does it make sense to invest $150,000 in a property if you’re planning to move? Whether you are adding a new bathroom or a second floor that will make room for additional bedrooms in the case that you are anticipating the growth of your family, for example, these factors will help you determine your initial planning and cost.
Why Is Planning for Home Additions so Important?
The process of creating home additions can be overwhelming; consumers are bombarded with too many choices in the marketplace, particularly with regard to design. To ease some of the stress, it is useful to get a sense of design elements that you like. Planning early will ensure that all products are delivered on time so as not delay the renovation. Also, if you buy early, you may be able to get certain items at a cheaper price.
Where Can I Get Design Ideas?
Look at design magazines, attend home shows in the GTA to get an idea of architectural styles; speak to realtors in your area about popular features and drive around your area to get a sense of what you’re looking for.
Why Work with a Professional Architectural Firm?
There are hundreds of contractors throughout the GTA – some legitimate and some who lack the technical skills and abilities necessary to perform high quality renovation, which can ultimately turn your dream home addition into a nightmare. To avoid such a risk, seek out a Tarion registered builder.
What is Tarion? And How Can it Benefit me?
Tarion is a governing body for home builders that ensures that your home builder has extensive technical knowledge and is in good financial standing, thereby reducing the risk that your job will go unfinished or that you will overpay your renovation team. Although referrals from friends and family members are common, the referred building firm might still lack the desired technical knowhow to get the job done right the first time. Tarion certified builders are highly qualified industry experts. They are tested on their technical expertise and come with a solid, extended warranty. By working with a Tarion registered builder, you’re protecting yourself from scams and shoddy jobs. You can visit the website (www.tarion.com) to personally evaluate the performance and financial standing of its registered builders. These experts will notify you if there are any permits that may be required to guarantee that your home addition meets municipal, provincial and federal codes and regulations. They will also discuss all facets of the project with you, from start to completion, so that you know exactly what to expect during the renovation process. Remember, as the consumer, you work cooperatively with your design team. You play a part in the construction process, so if you’re unhappy with the design plans that were created, speak to your team immediately to get the desired results.
Establish a Budget
Once a design has been articulated, you can proceed with drawing up your budget. Because a home addition is a large investment in your home, you will most likely require financing. Talk to your financial institution and ask about interest rates, loan options and how much you can actually receive. For more information on your financing options and government grants visit the Canada Housing and Mortgage Corporation to determine what works best for you.
If you have plans to make a Toronto home addition or extension, make sure you do some research beforehand and chose a builder that is registered with Tarion. A Tarion registered builder will help you fulfill your vision of your ideal home addition.
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