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Splurge or Save? Which Projects Are Actually Worth the Investment

Splurge or Save? Which Projects Are Actually Worth the Investment

July 13, 2022

Before diving into any renovation project or hiring your contractor, the first thing you’ll do when preparing for your project is develop your budget. It’s at this point in time when many homeowners will wonder “can I get away with saving a few extra dollars on this material or for this project?” And truth be told, there are some projects where you don’t need to purchase top-of-the-line materials or really splurge to get what you want.

However, there are also some projects that require the investment, as, without it, processes can be done incorrectly, materials can fall apart, and you can be left spending more time and money in the long run, than if you just “splurged” in the beginning.

To save you the headaches and heartaches, we’re breaking down some of the top renovation projects that require you to spend a little more. Not only will it ensure that the project was done correctly, but it will stand the test of time and allow you to get a great return. Take a look:

1. Kitchen Renovations

There should be no surprises here! From the appliances to the countertops to the cabinetry, splurging and investing in the time and materials it takes to do a kitchen renovation is well worth it. Not only will this help ensure that everything was installed and done correctly, but it will also increase your return and help your space stand the test of time.

Especially since the kitchen is the “heart of the home” and used often by everyone, you’ll want to ensure you have enough budget to spend on quality materials so you won’t have to worry about anything later. 

2. Bathroom Renovations

The bathroom is probably the second most used space in your home, and it’s an important one. While it may seem beneficial to save on faucets, toilets, bathtubs, and lighting, you’re only doing yourself a disservice. By spending the extra money to have high-quality items in your bathroom, you can ensure your items will last a long time.

Plus it is worth spending the money to hire a professional who has experience and expertise in bathroom renovations so that they can conduct certain processes such as waterproofing your shower, which helps prevent mold growth and deterioration down the road. We will note that you can save on your bathroom tiles, however. While selecting quality material is always the best solution, you can find options that are great and do not break the bank.

3. Backyard Renovations

Living in the GTA, your backyard will take a beating during the Summer and the Winter, which is why it is important to ensure that any renovation completed is able to withstand the changes in weather and season. It doesn’t matter whether you’re building a deck, installing a fence, or adding a shed, you do not want to “cheap out” or try to save on these projects. By investing in a quality team and quality materials, your backyard will not only look great, but it will also help increase your return on investment.

Properly built and good quality decks, sheds, and fences, are all things that potential homebuyers are told to look at and for when accessing the backyard. So these types of projects are worth the money.

4. Installing New Flooring

There are so many benefits to spending money on good-quality flooring. Now we’re not saying you need to purchase top-of-the-line, engineered hardwood, but purchasing hardwood, vinyl, or stone tile, and having an expert team install it, is ideal. 

It’s important to remember that your floor takes a constant beating from items being dropped, pets, water spills, and people walking on it. The last thing you want is for it to look weathered or to start falling apart. Purchasing the higher quality flooring options will help ensure your flooring lasts a lifetime.

5. Renovating your Basement

A basement renovation is a huge undertaking. Not only are you dealing with the foundation of your home, but if done well, it can grant a huge return on investment. You’ll want to spend the money to have everything properly done during this project, as well as invest to have soundproofing material purchased and installed. It’s expensive, however investing in this project for your home, and having it done right will be well worth it in the end.

When it comes to renovation projects that involve spaces or items that are used heavily in your home, such as faucets or cabinets, or flooring, it is always worth it to spend the money. We understand that the upfront cost may be intimidating, but the amount of money and the headaches that it will save in the long run are always well worth it. If you have any questions or are looking for a professional team of experts that can assist you in your renovations and project planning, feel free to contact us today!

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