Troico Blog

Renovation vs Remodel – What Works Best For You?
October 15, 2021

What is the difference between renovation and remodeling?

 

Though the two words renovation and remodeling feel synonymous to our ears, they both have a different definition.

We are presented with three choices when it comes down to a construction project:

1. Renovate the current space

2. Acquire and redevelop a new space, or

3. Build new space instead.

 

What Are the Prominent Differences between Renovation and Remodeling?

Renovation is upgrading the present space. Remodeling is redesigning and constructing the present space.

Renovation is fixing and reviving things around you, like adding a new shower in the washroom, restoring the creaky floor, or anything back to its good yet better condition than the present.

Making them new, or upgrading their condition to look as if they are new, is renovation. It is considered renovation as long as the installations like plumbing, walls, and electrical systems are not changed or messed with.

 

Remodeling, however, sometimes involves demolition and construction. In addition, it involves the replacement of present facilities and installments alike.

 

Not only is remodeling a large-scale project, but it also changes the use of the present space.

Remodeling is not restricted to a room or two but instead involves the whole building. It involves updating the structure by making changes to the space layout itself.

 

Which is Better: Remodeling or Renovation?

Both deal with the makeover of your space, and the two simultaneously increase the place’s worth as well. Sometimes, deciding which is a better option for you can a hassle.

 

If you are to go with remodeling, you are reaping two benefits:

1. Less maintenance and upkeep cost in the future.

2. The new fittings and installations can effectively help to lower energy costs and utility bills.

Though remodeling can be very costly (it requires permits and use of multiple trades), the benefits are long-term.

 

When it comes to renovation, the project is usually smaller-scale, less costly, and doesn’t involve permits. It enhances the current space into being more expressive of your taste and choices.

Installing new lights, a new bathroom sink, carpeting, updating kitchen appliances, or replacing things around are examples of remodeling.

 

Such minor changes are neither heavy on budget nor are time-consuming. Instead, they readily help you evolve your space into better and more pleasant looking without changing the room’s purpose.

 

Renovation vs Remodel Examples

Common examples of the renovation include:

  • Updating appliances
  • Repainting
  • Replacing flooring or tiles
  • Replacing the furniture in the dining

 

Common examples of remodeling are:

  • Turning two rooms into one
  • Removing walls
  • Replacing or changing the entire layout of the place
  • Raising the ceiling

 

The Pros and Cons: Remodeling Vs Renovation

Overall, remodeling your existing space is like building a new space. Not only does it grant you more control over the project, but it also suits your needs perfectly.

Even if remodeling is costly and takes longer, you are exposed to multiple options. Instead of being restricted to a particular space, you can even switch up the whole place and its purpose as well.

In contrast, with the renovation projects, you are bound to the existing structure. If you simply want to freshen up your space, renovation is the most likely the better option.

 

What is Right for You?

Even though it is a personal matter, you should consider certain business aspects. For example, consider the potential recovery of the finance you are investing in, i.e., ROI (Return of Investment). It comes in handy when you are looking to either increase your place’s value or resale potential.

If you plan on staying in the place for the next five years, then the costs shouldn’t overshadow the ease and benefits you can get from upgrades.

 

However, if the goal is to sell the place, the improvements will increase the value of the property.

Minor renovations can bring in a higher ROI than remodeling. For example, the addition of fiberglass insulation to your attic can bring an ROI of 108%, i.e., 8% more than what you invested.

In contrast, remodeling an entire bathroom will bring in an ROI of only 54%. If the place isn’t old or the layout is solid and reliable, there is no need for remodeling.

Some tweaks here and there with the renovation can create a pleasant atmosphere that is attractive to both buyers and the residents.

 

The choice between the two is influenced by need, want, budget, cost, and return. Consider each factor, draw out comparisons, and then make a decision.

 

The Final Verdict

Whether looking at your current home or future home, there are essential decisions you can’t overlook. Remodeling or renovation of your space is something you will need to address sooner or later.

When considering your future remodeling or renovation, ask questions such as how to mitigate the costs, translate ideas into a breathing reality, and how to find a reliable contractor.

 

The right decision depends solely upon your ultimate goal and scope of the project. Use Troico ’s expert opinion to the fullest, and ensure that you the perfect decision!