Renovation. Remodel. What’s the difference?! To some, this is a super simple question. To others, there’s a great amount of gray area. To real estate professionals, this is pretty black and white.
Are you thinking about renovating, remodeling or buying a fixer upper? Let’s chat through it together!
I’ve personally done two: I’ve done remodels in my own home and technically took ownership of a fixer upper and turned it into a full renovation. My personal experiences combined with my professional expertise will help you navigate your decision making.
What’s best for you in this situation?
[Spoiler: there’s no wrong answer and no two answers are alike]
Renovation vs Remodel can easily be explained below. Think about it this way, if it helps: you are probably living in a renovation, but likely could not live in a remodel. If you have two bathrooms, chances are you can live through a primary bathroom renovation. If you have one bathroom, a six week bathroom remodel may be tough to live at home through.
So.
How do you know which one you’re interested in pursuing? And what about buying a fixer upper? What category do those fall under? The answer: a fixer upper can be either a remodel or a renovation, it just simply boils down to how MUCH work is needed to make the home habitable.
How do you best decide which route you want to go? The answer: how much work can you AFFORD to do, what is your end goal and how flexible is your timeline?
Many of these answers are a personal decision, but your end goal is something you’ll want to discuss with your trusted real estate professional (ahem . . . me). We can go over what fixer uppers are reselling for, what you want your initial purchase budget to be, what the comps are in that neighborhood. The amount of factors that go into the initial purchase are definitely factors you need to have answers on before buying your fixer upper and then determining renovation vs remodel.
Renovating.
Confession: I’ve owned my condo for ten years this month and when I bought my home, it was not fully updated/renovated. And it still isn’t. I was really young when I was privileged enough to buy my place, and because of that renovations have happened in phases.
And I am FINE with that. Everything has been livable, and we’re down to the last few phases that I know I specifically do not want to be at home to live through.
I’m sharing this because if you’re thinking about renovating, you need to think about if it is actually something you are able to do without fully displacing yourself, and think about if it’s all at once (full home) or done in phases. I find people who go the renovation route tend to be long-term home owners and aren’t typically looking to sell their home in 3-5 years. Each person is different, but think about renovating your home as a weekend, or a few quick weeks, project (or series of projects).
Remodeling.
Confession: I’ve done this as well. With a family home. That I project managed. From states away. Over the course of a year and a half.
NOT for the faint of heart (in that case).
Remodeling is moving walls, redesigning the layout of rooms, maybe adding a bathroom (typically not removing one). Remodeling is much more of a longterm project and typically takes time. My remodeled home was one that I absolutely could NOT live in during the project.
Was it worth it? Absolutely. Am I happy I did it? Exceptionally. Was it SO MUCH to do while not being on-site daily? You can’t imagine.
All of this to say, there’s a great benefit to a remodel because you’re able to fully customize your home to exactly what you want. And get out of your house exactly what you need. It’s so fun and so rewarding, but plan to go over budget and go over time.
What do you think is best for you? Have you tackled a renovation or a remodel? Bought a fixer upper? Thinking about dipping your toe in the home reno pond? You know I’m here to chat!
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