Change is the only constant and that goes for everything. Real estate property renovations and constructions are no different, which is why property owners look to increase the value with certain additions.

The problem with that is most people do not know the difference between renovation, restoration, and remodeling a property. The article below puts that into perspective for you, so you can have a clear mind before hiring a property renovation company or any other company in general.

Renovation

Everybody who owns a property is familiar with the term renovation. For the general audience, renovation is known as the process of renewing a structure or a building by fixing what is already present in the structure, and the addition of some new components on rare occasions.

Renovation is relatively cheaper in comparison to remodeling. Chances are that hiring a property renovation company can be a more cost-effective option than restoration, depending on the scale of the project.

In most cases, renovations are done in conjunction with restorations. For instance, if the client decides that they want to restore their bathroom, but want a modern touch along with it, they can add a shower component to the tub, which also justifies the renovation project as well.

Restoration

The process of returning the building back to its original condition is referred to as restoration. It is a commonly used practice for historical buildings, and once in a while, even new buildings undergo restoration as well. Such types of projects usually include the following;

∙ Repairing old fixtures

∙ Wood floor refinishing

∙ Removal of old carpet

∙ Fixing holes in the walls

∙ Removing old fixtures and replacing them with original replicas

In terms of an environmental viewpoint, restoration calls for the use of fewer resources and lesser energy consumption. In fact, it can be the perfect cost-effective choice, if the house has a strong foundation and only needs the bare minimum repairs.

If the end goal is to make the building look exactly like the original structure, restoring it might be the perfect choice for you. Although, make sure to brace yourself for some basic remodeling and renovations, considering that some parts may not be restored to the full extent.

Remodel

The process of changing an entire building or a specific room comes under the category of remodeling.

Remodeling projects are generally more involved in terms of the overall process when compared with restoration and renovation since, with remodeling, major changes are made to the structure of the building.

Major examples of remodeling include;

∙ The addition of plumbing

∙ The expansion of a building in square footage

∙ Raising the ceilings

∙ The addition of cooling or heating ducts

∙ Removal, adding, or gutting of walls

Out of all three options, remodeling typically has the highest cost and requires a respectable amount of material to get the job done.

A lot of work goes into remodeling a building. Make sure to move forward with remodeling only if the structure is missing some essential components that are required for the building to function properly. Get an estimate about the cost before starting the project to make sure that you have everything covered with your project budget.

An Insight into Remodeling vs Renovation

During the renovation, a room or building is fixed without changing its actual use of it, while remodeling refers to transforming the entire purpose of the space. But why should these differences matter to the homeowner or the business owner? The differences might be subtle between the two but can make all the difference in the world regarding how your investment in a project turns out to be.

Below mentioned are some of the factors to be kept in mind while considering between a remodel vs a renovation project.

Scope of the Project

Renovation projects generally focus on the appearance of the property or the commercial building, unlike remodeling where the entire functionality of the structure is altered. New appliances, fixtures, and upgrades can be made in the technology with renovation, whereas, with remodeling, transforming the complete space when cosmetic changes aren’t getting it done becomes relatively easy.

Time

As opposed to simple and quick touch-ups that are quite easy to perform, even basic remodeling requires a significant amount of time. The planning and construction for remodeling can take up to several months.

On average, living rooms and bathrooms can take up to three months to complete after planning while kitchens can take up to more than five months.

Room for Customization

With a renovation, the building can be offered a modern look while adding different functional elements to the structure, without changing the structure altogether. If you want to open up a room by tearing down the wall or completely transform the space to make it in accordance with your plans, a remodeling project would be the better fit.

Money

Irrespective of what you have in mind for the space, remodeling projects will generally cost more than renovation since it includes complex construction, plumbing, and electrical work. In addition, you might need specific permits for the remodeling project, which can add a significant amount of money to the bill.

Finding the Perfect Project for You

To better understand the kind of project that suits your needs the best, you should ask yourself some questions.

What Change do I Want?

Are you looking to make some basic repairs? If yes, restoration can offer that chance with ease, enhancing the appearance and functionality of the room. Looking to make the building more modern or to update some elements for practicality? A renovation project might be the solution to your problems. Are you looking to come back to a different world altogether? A complete remodel is what your space needs for this.

Designs

It is no secret that renovation and restoration can transform the look and feel of any area, but in case you don’t like the current layout and want to change it, add an extension or move the sink a little to the right end of the room. Extra money would be required for this type of remodel.

Budget Queries

In general, remodeling can cost about 7 to 10 percent of the value of the building in question. If you don’t have the budget for that, try to consider the possibility of a renovation or simple restoration for the time being.

Conclusion

Now you have learned the differences between renovation, restoration, and remodeling a property. With the correct knowledge and the right people around you, moving forward with the idea of changing your property into something better and valuable becomes easier.

Consider this the next time you move forward with a property renovation and construction project for your home or property.