If you’re thinking about renovating, you’ve probably spent a lot of time thinking about the budget.

But after renovating multiple homes myself and helping countless clients through their own projects, I’ve learned that the construction bill is only one part of the cost.

There are actually five costs of renovating that I think every homeowner should understand before deciding to take on a major project: the financial cost, the time cost, the emotional cost, the impact on your family and relationships, and the risk that comes with opening up an old house.

And sometimes those other four costs are the ones that catch people by surprise.

That doesn’t mean renovating is a bad idea. Sometimes it’s absolutely the right decision, especially if you love your neighbourhood, your kids’ school, your neighbours, or the life you’ve already built around your home.

The goal is simply to go into it with realistic expectations.

In my latest Renovate or Move video, I break down the five costs of renovating that almost nobody talks about, and why understanding them can help you make a much smarter housing decision.

WATCH: THE TRUTH ABOUT RENOVATING →

I’m not trying to convince you to renovate.

And I’m not trying to convince you to move.

I’m trying to help you understand the trade-offs so you can make the right decision for your family, your finances, and your future.

Paul

Paul Haley
Engineer. Realtor. Serial Renovator.
THINK Real Estate
Helping Toronto homeowners make smarter housing decisions.