Renovate

What is Renovate?

Renovation or ‘renovate’ is the process through which an existing property or structure is upgraded, improved, or brought up to current building standards. The goal may either be to restore the building to its original state or to modernize it while retaining its essence. This process often involves significant changes to infrastructure, materials, or design elements, but it generally preserves the underlying structure and character of the building.

In the context of real estate, renovation is commonly undertaken to increase the property’s value, make it more appealing to tenants or buyers, or extend its usability and efficiency.

Examples of Renovation

Residential Property: A homeowner decides to renovate their outdated kitchen by installing new cabinets, countertops, and modern appliances while retaining the original kitchen layout.
Commercial Space: A company buys an old office building and renovates the interior to include contemporary workspace designs, updated electrical systems, and eco-friendly materials without altering the building’s exterior facade.
Historical Buildings: A city government renovates historic downtown buildings to restore their original appearance, upgrade to modern safety codes, and repurpose for contemporary use, such as converting an old factory into a museum.

Frequently Asked Questions (FAQs)

Q: What is the primary difference between renovation, remodeling, and rehabilitation? A: Renovation usually involves extensive improvements to upgrade or restore a building to its original state. Remodeling involves altering the building’s structure, design, or layout, which can change its functionality. Rehabilitation typically refers to making a property habitable again, focusing more on updating it to current standards without necessarily changing its original look.

Q: Does renovation always increase property value? A: While renovations can significantly enhance the value of a property, the actual increase depends on various factors, including the quality of the work, market conditions, and the specific type of renovations carried out.

Q: Is a permit required for all types of renovations? A: Permits are usually required for substantial renovations, especially those dealing with structural changes, electrical systems, plumbing, or other major components. It is essential to check local regulations to understand the specific requirements for your area.

Q: Can I live in my home during a renovation? A: It depends on the scope of the project. For minor renovations, it’s often feasible. However, for more extensive work, particularly those affecting essential systems like plumbing and electricity, making alternative living arrangements may be recommended.

Q: How do I budget for a renovation? A: Start with a detailed plan, list all the materials and labor costs, include a contingency for unexpected expenses, and seek multiple quotes from contractors to understand potential costs better.

Remodel: Making large-scale changes to a property, potentially altering its structure, layout, or design to redesign its functionality.
Rehabilitate: A process aiming to make a property habitable again, focusing on updating the property to current building standards without necessarily changing its original condition.
Restoration: The process of returning a building to its original condition, often using original or period-appropriate materials and techniques.
Repair: Fixing or mending something that is broken or not functioning correctly, often a smaller scope than renovation.
Retrofit: Adding new technology or features to older systems in a building to improve its functionality or efficiency.

Online Resources

ThisOldHouse.com - Provides extensive guides on home renovation projects, tips, and professional advice.
Houzz - A platform offering ideas, professional contacts, and resource articles for residential renovations.
National Trust for Historic Preservation - Resources and guidelines for renovating historic properties.
HomeAdvisor - A service connecting homeowners with vetted contractors for various renovation needs.

References

National Association of Realtors (NAR). “Home Renovation Impact Report.” National Association of Realtors, 2019.
U.S. Department of Housing and Urban Development (HUD). “Residential Rehabilitation Inspection Guide.” HUDUSER, 2012.

Suggested Books for Further Studies

Batterbee, Gordon. Renovating Old Homes: Bringing New Life to Vintage Houses. Penguin Publishing, 2018.
McCoy, Jim. The Complete Guide to Home Renovation. Bob’s Builders Press, 2021.
Orloff, Jane. Living Through Remodeling. Homewise Publications, 2016.
Kirschner, Hal. Renovation 5th Edition: Completely Revised and Updated. Taunton Press, 2020.

Real Estate Basics: Renovate Fundamentals Quiz

### Is renovation usually done to modernize or restore a building while keeping its same general appearance? - [x] Yes, renovation aims to modernize or restore a building while keeping its general appearance. - [ ] No, renovation completely changes the building's structure. - [ ] Only old and historic buildings can be renovated. - [ ] Renovation is the same as remodeling. > **Explanation:** Renovation generally aims to upgrade or restore a building while retaining its fundamental structure and appearance. ### What usually requires more changes: to remodel or to renovate? - [ ] To renovate. - [x] To remodel. - [ ] Neither, they require the same amount of change. - [ ] To renovate an external structure only. > **Explanation:** Remodeling generally involves more changes as it can include altering the building’s structure, design, and functionality, whereas renovation focuses more on upgrading or restoring the building. ### What is an example of a residential renovation? - [ ] Adding a new room where none existed before. - [x] Upgrading kitchen appliances and cabinets while keeping the layout. - [ ] Converting a garage into a living room. - [ ] Demolishing and rebuilding the house from scratch. > **Explanation:** Upgrading kitchen appliances and cabinetry while retaining the layout is an example of a residential renovation where the structure remains virtually the same. ### What might necessitate a renovation permit? - [x] Major structural changes or updates to electrical systems. - [ ] Painting the interior walls. - [ ] Planting a garden in the backyard. - [ ] Installing wallpaper in a bedroom. > **Explanation:** Major structural changes or updates to essential systems like electrical and plumbing usually necessitate obtaining a renovation permit, depending on local building codes. ### What is a potential benefit of renovating a property? - [ ] Decreasing property value. - [ ] Making it unlivable. - [x] Increasing property value. - [ ] Minimizing usable space. > **Explanation:** Renovations often aim at increasing the property’s value by modernizing it or restoring it to meet current standards or aesthetics. ### Who should you consult about potential renovation costs and planning? - [x] Professional contractors and architects. - [ ] Only your neighbors. - [ ] The property developer alone. - [ ] Local zoning board with no additional input. > **Explanation:** Consulting professional contractors and architects can provide more accurate estimates and sound planning for any renovation project. ### What tends to influence the increase in property value after a renovation? - [ ] Only the new paint color. - [x] The quality of work and the type of renovations carried out. - [ ] The building code and nothing else. - [ ] The previous owner's investment in the property. > **Explanation:** The actual increase in property value post-renovation depends on the quality of the work, the specific improvements made, and the prevailing market conditions. ### When restoring a century-old building, ensuring which feature is often crucial? - [x] Keeping historical accuracy. - [ ] Using all modern materials even for aesthetic elements. - [ ] Changing its layout completely. - [ ] Avoiding any documentation. > **Explanation:** When dealing with historical buildings, retaining historical accuracy in materials and design, while updating structures to modern codes, is often crucial. ### Which of the following is not a common reason for a renovation? - [ ] Upgrading to meet current building codes. - [ ] Restoring a building to its original condition. - [x] Demolishing it to build a new structure. - [ ] Modernizing for increased property value. > **Explanation:** Demolishing a structure to rebuild anew falls outside the scope of renovation, which focuses on upgrading, restoring, or modernizing an existing building. ### Why might alternative living arrangements be recommended during an extensive renovation? - [ ] It is required by law. - [ ] It always saves money. - [x] It minimizes daily life disruption. - [ ] It makes the renovation cheaper. > **Explanation:** Extensive renovation projects can disrupt essential utilities and living conditions, so alternative living arrangements can minimize disruption during the construction period.