The numbers are in: this year, Canadian homeowners took all that cash we used to spend on dream vacations and put it into our homes. According to a new report from Statistics Canada, renovation spending jumped 66% this past spring.
And we’re not done yet.
The HomeStars 2021 reno report—a state-of-the industry snapshot on home renovations—predicts 2022 will be even busier. Their survey of homeowners showed that 77% plan to do interior renovations this coming year, and with lumber prices finally coming down from last year’s highs, a whole lot more is possible on a smaller budget.
If you’re planning a renovation—whether it’s a much-needed update to that old kitchen or something to make your space feel new—it always pays to renovate smart. Here’s how DelSuites can help you get your bigger, brighter home on time and on budget, without losing sleep.
Should I stay or should I go now?
With contractors and tradespeople increasingly booked in the coming months, compressing your renovation project into fewer days of work can make it more affordable—but also more likely to fit a reputable contractor’s schedule.
For smaller projects like painting and tile repairs, it might just mean some ducking and dodging around your contractors. But for major projects like a full bathroom update, kitchens, or home additions the math changes. The average bathroom remodel runs at four and a half weeks and kitchens average six to twelve. It can be easier on your budget to let the work run uninterrupted—and move your family elsewhere for the month.
- Daily cleanup and site protection costs. Most renovation crews take time at the end of each shift to clean up and make the space habitable again; an average of half an hour per day. This comes out of time they could spend on the primary work—and also adds up on your bill.
- Electricity and plumbing planning. Anything that involves wiring or plumbing has to be organized around the basics of daily life: school lunches, morning showers, and for many of us, working from home. Letting your contractors work without having to carefully plan those outages moves your project forward faster—and saves you costs.
- Save on dust mitigation. Renovations kick up dust: drywall dust, materials dust, and just the regular kind you haven’t gotten around to while living in your home. The measures you need to take to keep it out of living areas, like hanging plastic curtains, also cost money—and that’s money you can save.
- Save on takeout. Kitchen renovations mean you’re down to microwaves or takeout for most of the construction period—and that can rack up huge expenses on meals.
Build a reno budget that works
Renovations have a reputation for running over budget—and that’s sometimes because we haven’t thought about these smaller expenses. You know, the ones that add up.
It’s worthwhile to add up the potential costs of living in your home through the reno—a little here, a little there—and stack them up against the fixed cost of a fully-furnished, ready-to-go rental.
If the incremental bill is bigger than you’d like, building a DelSuites stay into your project plan can be the low-fuss, smart financial decision. It lets your contractors finish major renovations faster, keeps your grocery budget manageable, and reduces the time you lose at work through noise, dust, power shutoffs, or fatigue from early morning carpentry.
We take the hardest part out of the renovations moving dilemma: finding the right temporary home for the right cost. With locations in all of Toronto’s major neighbourhoods, fully furnished units, fully equipped kitchens, ensuite laundry, and phone, cable, and wifi ready to go, all you have to do is show up at the door.
All our units have transparent rates, with discounts available for extended stays. And if your project does run longer than you expected, our Guest Services team can work with you to extend your stay or arrange flexible checkout without trouble.
Solve the stay-or-go equation with a better home reno plan
Ultimately, every renovation is different; it pays to ask careful questions, do your research, and weigh the options with a trusted contractor.
But if you’re leaning toward a temporary home while your dream home comes together, contact us by phone at (416) 370-3504, email at info@delsuites.com, or use our live chat to find out how DelSuites furnished short-term rentals can help you keep your reno within budget.