Understanding the Differences - Renovation vs Remodel

When you're considering improving your home, one of the first decisions you’ll face is renovation vs remodel; which to choose. While these terms are often used interchangeably, they actually refer to two very different processes. Both options can significantly impact your home’s functionality, aesthetics, and value, but they involve varying levels of time, cost, and effort. According to a survey conducted by Made In CA, 70% of people considered renovating, modernising and improving the functionality of large spaces like kitchens and bathrooms to raise the home value the highest. 

Understanding these differences is crucial to making the right choice for your home improvement project. In this blog, we'll break down what makes a renovation different from a remodel, and which one might be the best fit for your needs.

What is a Home Renovation?

A home renovation is all about refreshing or restoring an existing space without making any structural changes. Think of it as giving your home a makeover. You’re not altering the layout, but you’re updating its appearance and functionality.

Common examples include:

• Replacing old floors with hardwood or tiles.
• Repainting walls or updating the colour scheme.
• Upgrading fixtures in the kitchen or bathroom.

Fact Check:
According to a survey conducted by NAR Remodelling report, renovations like hardwood floor refinishing result in over 100% return on investment(147%) and new wood flooring (118%). 

What is a Home Remodel?

A home remodel, on the other hand, involves changing the structure or layout of your home. When you remodel, you’re transforming the space by reconfiguring its layout or even changing the purpose of a room.

Did you know that 55% of Canadians consider remodelling their space like adding rooms or knocking down walls a good return on investment? Home remodelling projects, such as basement conversions and closet renovations, offer ROIs of 86% and 83%, respectively.

For example:

• Knocking down walls to create an open-concept kitchen and living room.
• Adding a new bathroom or extending a bedroom.
• Turning an unfinished basement into a livable area.

Key Differences Between Home Renovation and Home Remodel

To help you understand the distinctions, here’s a table that summarises the major differences between a renovation and a remodel:

Benefits of Renovating vs Remodelling: Which is Right for Your Home?

When to Choose a Renovation?

If you're happy with the general layout and function of your home but want to update its look or improve efficiency, a renovation is likely your best option. It's perfect for smaller, less intrusive updates such as modernising an outdated bathroom, refreshing the kitchen with new appliances, or giving your home a fresh coat of paint. Renovations are usually quicker and more budget-friendly, offering a great return on investment for smaller-scale projects.

Read Also: Full Home Renovation vs Room By Room - Which is Better?

When to Choose a Remodel?

If you need more space or want to change the way your home functions, a remodel may be the way to go. This is ideal for large-scale transformations, like adding a new room, converting a basement, or creating an open-concept living area. Remodels are more costly and take longer, but they can drastically increase the value of your home and enhance your quality of life by customising your living space to suit your needs better.

Conclusion

Whether you choose a home renovation or remodel depends on your goals, budget, and how you want to improve your space. Renovations are ideal for updating and refreshing your home without altering its structure, while remodels allow you to transform a space and make significant changes to its layout or function.

If you’re still unsure which option is right for you, our team at Markley Construction is here to help. We specialise in both renovations and remodels, and we’ll work with you to tailor a solution that fits your vision and budget. Get in touch with us today, and let’s turn your home improvement dreams into reality!

FAQs

1. What is the average return on investment for a home renovation?‍

According to industry reports, certain renovations like hardwood floor refinishing can provide an ROI of up to 147%, while insulation upgrades can offer a 100% ROI along with energy savings.

2. How long does a typical renovation take?

‍Smaller renovation projects, such as repainting or updating fixtures, typically take a few weeks to complete. Larger remodels, involving structural changes, may take several months depending on the complexity.

3. Do I need a permit for a renovation or remodel?

‍For surface-level renovations, such as painting or replacing fixtures, permits are usually not required. However, for structural remodels that involve changes to your home’s layout, permits are often necessary.

4. Which option is more cost-effective, renovation or remodel?

‍Renovations are generally less expensive, as they involve fewer changes to the home’s structure. However, remodels offer higher potential returns, especially for projects like basement conversions or adding new rooms.