Home Improvements Opportunity knocks! Answer!

Refinance your house and get those renos done

Sure, your property has increased in value over the years. Still, you've got a whole lot of renovations to attend to; it's time to get to it! You just have to tap into your equity. 
A Multi-Prêts broker can guide and advise you to ensure you get the best loan, and negotiate optimal terms and conditions so you can get your renovations done.

Renovations are the primary reason Québec homeowners refinance their mortgage. Make sure you plan. Take the time to evaluate what you want to do before getting started; sometimes maintenance jobs take priority over design and upgrade ideas. It's frustrating, but maintenance is essential  before "added value" improvements. Sorry if that's not what you want to hear, but those are the facts. Renovate smart and stay out of trouble!

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Renovation are all about priorities

Maintenance and repairs
Upgrades and improvements
Design and lifestyle updates

Apply for a mortgage

Top 5 things to consider if you're moving out

  • How urgent is the work?
  • How much will the work cost?
  • How much value does the work add to the sale price?
  • How much work will you be responsible for?
  • Overall benefits?

If you're moving out soon, think about how relevant the renovation is against the above criteria. When you look at the situation logically, you may end up changing your mind.

Renovating with respect to the environment

With respect to the environment, make sure to think about eco-friendly and durable materials that are easy to maintain while planning your renovations.

Top considerations before renovating

There's a lot to think about when you get into renovations: evaluate and plan, before, during and after your project. Here's a list of key considerations:
  • Make sure your renovation plan respects municipal, provincial and federal law
  • Find out if you need a municipal permit (applicable most of the time) 
  • Make sure your renovation team is certified (APCHQ, RBQ certification)
  • Get a cost estimate before you start
  • Get at least 3 estimates to compare costs
  • Make sure you have estimates in writing (include complete list of work, timeline, budget, and payment schedule.)
  • Tack on at least 15% of the estimated price for modifications and unpredictable problems during the work (this is always the case!)
  • Sign a contract and make sure it includes details and a guarantee on the work
  • Make sure the contractor has permits to perform the work
  • Make sure workers are insured; this protects both you and workers

Speak with a broker. Call us at 1 800 798-7738