Debt Consolidation Vancouver

A survey done by the Canada Mortgage and Housing Corp. found that Canadians spent over $25.8 billion on home renovations in 2009. That’s billion… with a ‘b’. The total households that were revamped numbered over 2 million. Of those, 35 per cent went over their budget.

These stats and more were provided in an interesting article published last week in the Globe and Mail. Entitled, “Reno Coach Keeps Projects in the Ballpark,” the article concerned a young woman who had attempted to find a contractor to do a number of renovations around her modest home. The quotes and feedback she received from different contractors was highly inconsistent and stank of unprofessionalism. But then the young woman hired a reno advisor from a company called House Calls Project Management. At a hefty fee, a reno coach visited her home and helped her draw up a reasonable budget and project plan for her renovation ideas. The coach also went through the contract when the young lady was finally able to find an appropriate contractor. This process helped the homeowner save in the long run. It also provided her with needed assurance that her plan was practical in raising the value of her home.

The Globe article concluded with five pre-reno checkpoints:

1. Know the rules: You don’t want to go through the process of renovating your home, only to find your new additions are not up to code.

2. Know what’s possible: This rule is for those handy ladies and gents out there who seem to take on the ‘im’ possible.

3. Create a budget: Never start anything without a rough idea of what it is going to cost you.

4. Do the Math: Get more than one quote. Review the numbers. Pick one and then add another 15 per cent for unexpected costs.

5. Spend wisely: For additional financing, contact a home equity loan specialist. Alpine Credits can lend you the money you need to bring up the value of your home.

Plan Your Home Reno Carefully