Renovating your home
- Determine your needs to do the job well
- Using your home equity
- A chance to improve your finances
- Other financing solutions
- Your Desjardins advisor will assist you
Determine your needs to do the job well
To ensure a successful renovation, you should evaluate your needs and expectations.
You'll have to take several things into consideration when you plan your renovation:
- The type of home you have
- Your neighbourhood
- The kind of work you want to do
- The materials you'll use
These things have repercussions on your comfort and budget. However, be aware that changes made to your home won't automatically increase its value.
Some changes you make will reflect your tastes and lifestyle, but may not correspond to the needs of potential buyers. Other types of renovations however will allow you to recover your costs through an increase in property value.
For large-scale renovations, it might be useful to contact an accredited appraiser.
Evaluate renovation costs
Before thinking about how you'll finance your renovations, evaluate the cost of the work to be done as accurately as possible.
Need information? The Canadian Mortgage and Housing Corporation (CMHC) has information and tips to help you assess your needs, make the right choices and draw up a realistic budget before you begin.
Modify your home insurance
When you renovate, it's important to contact your insurer to update your home insurance policy. Some renovations may increase your home's value so it's important to ask your insurer how your renovations will affect your policy.
Qualified Desjardins Insurance agents are available to help you choose suitable coverage.
Desjardins supports green renovating and has a comprehensive offer that includes cashback and many other advantages.
The savings calculator will help you estimate your energy savings.
Desjardins is environmentally-conscious and a proud partner of the École Polytechnique de Montréal's International Chair on Life Cycle Assessment.
The Chair has designed a tool that uses life cycle thinking to help better evaluate the environmental impact of your renovations.
Life cycle thinking considers the life cycle of a home: building the materials, construction, possession and the end of the building's life.
A variety of public organizations have financial assistance programs for renovations that apply to territories, regions or neighbourhoods, or to certain types of renovations.
Your Desjardins advisor can provide more information, as it pertains to your renovations.
Renovations: Plan before you take the plunge
Planning ahead makes all the difference. Check out our tips to help make your project a success.
Desjardins Insurance refers to Desjardins General Insurance Inc.