Tom Davis Personal Real Estate Corporation

Thinking about renovating in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound?

A Renovation project can be great fun. When considering renovating vs. building a new home, think about your budget, how much time you can devote to the project, how much patience you have, and how involved you are prepared to be in the renovation process.

Weigh the benefits of buying an older home in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound in an established neighbourhood vs. building a new home, buying a home that has been recently renovated or buying a newer existing home that offers much of what you hope to achieve from renovating or building from scratch. There is something to be said for the instant gratification of just moving in!

This being said, it can be a satisfying experience to find and renovate an older home in a great location, (remember there are only three reasons to buy real estate… Location, Location and Location).

Ask yourself these questions. Have you done this before? Can you visualize your finished home? Are you able to hire a general contractor or, for the brave at heart, are you prepared to put on the General Contractor’s hardhat and manage the project yourself?

There are lots of people out there with a hammer and a truck claiming to be General Contractors, so, do your homework! Make sure you speak with 3 or more contractors. Make sure you find a builder who is licensed, is a member in good standing of the Canadian Home Builders Association of BC http://www.chbabc.org/ with the time, the right combination of personal chemistry, skills, experience, and contacts among the various Trades you will require to undertake and successfully complete your project on time and on budget! If you go this route, make sure you write a detailed contract. This will provide everyone with a clear understanding of the scope, cost and timing of the project and help to avoid misunderstandings along the way. Remember this rule of thumb, if it isn’t written in the contract it is not included in your price!

Also, ask for references and have your General Contractor arrange to show you examples of work done in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound! Just like an artist, a good General Contractor will have a portfolio of projects to show off to prospective clients! Also, you may wish to contact the Homeowners Protection Office at http://www.hpo.bc.ca to investigate a particular contractor's track record of building quality homes.

Planning To Be Your Own General Contractor?

Think about the scope of your project, the number of permits required, the professionals and Trades people you will need to deal with along the way. Is your renovation largely cosmetic or will you be stripping the home to studs? Are you planning an addition to the existing structure? What needs to be replaced or upgraded? Plumbing, Heating, Wiring, Insulation, Roofing, Windows and Doors, Siding, Gutters, Foundations, Carpets, Paint, Appliances, Landscaping? Do you plan to tackle all of these at once or will you spread the project out in phases over time?

Important Contacts

Here’s a list of the contacts you will need to make in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound and some of the tasks you will need to perform:

• Work with a qualified REALTOR to find and acquire a property to renovate. I would be pleased to assist you with your property search in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound. I have over 10 years of Real Estate Experience, I've lived in the area for 8 years, and I've built new and renovated. I'm happy to share my own experiences with you (mostly good!) If you're anything like me, once you tackle a renovation or new construction project you’ll want to do it again, and again!

• Know whom to deal with at “City Hall” in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound.  You will have an easier time of it if you make a point to learn the rules of the game! Avoid the disappointment and expense of finding out you can’t build what you hope to build after you’ve spent time, energy and money on architects and engineers preparing plans that will need to be changed.

• Take out a Building Permit! The cost of a permit is money well spent to ensure that work is done in a proper and professional manner, that you have an independent 3^rd party review it and that once inspected and approved, you have a quality result that is safe and adds value to your home.  Also, proof that work was done on your home with proper permits provides reassurance to prospective buyers should you decide to put your home on the market!

• Each of the following municipalities in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound can provide a “Builder Package” to you that details the requirements, restrictions and permit costs associated with your renovation or new construction project:

• Furry Creek and Porteau Cove – Squamish Lillooet Regional District in Pemberton - for Building Permits and Building Inspector http://www.slrd.bc.ca/

• Lions Bay – Village of Lions Bay - for Building Permits and Building Inspector http://www.lions-bay.bc.ca/

• West Vancouver – District of West Vancouver – for Building Permits and Building Inspector http://www.westvancouver.net/

• Consider working with an Architect or Designer to identify options, maximize best use of space, add value and draft building plans. These professionals can save you time and money. Make sure you work with people familiar with the area in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound as requirements differ among municipalities and districts. A good Architect or Designer can save you a lot of money through proper design, from site preparation to building additional space. Once again the key is to speak with 3 or more individuals to ensure you are comfortable with the person you will entrust to put your dreams on paper.

• Work with a Professional Engineer if you are considering making any structural changes to an existing building, or designing a new home. Note that many Architects and Designers can recommend Engineers that are familiar with the Architect’s or Designer’s work in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound and will often save you time and money. You want to be sure that whatever renovations you make to your home will endure, meet current building code standards, and meet reasonable seismic standards. After all, we do live in Earthquake country here! Older homes were built to a different standard and a Professional Engineer can provide invaluable advice on methods to upgrade the structural integrity of your building to meet current standards and best practices.

• Find qualified and reliable Trades people, its critical to the success of your renovation project. How do you do this? A good General Contractor works with a number of specialized Trades people. Typically, these are people that the GC has worked with in the past and that have proven themselves to be reliable, qualified, consistent and competitively priced.  A key reason to hire a General Contractor is that they have ready access to good Trades people. If you are acting as your own General Contractor and don’t have any contacts, you will need to do some legwork. I’ve found some fabulous Trades people by word of mouth from friends and associates that have had work done to their homes, and by driving around various job sites in the area and meeting Trades people on the job. As always, if you do not know the individual, ask for references, and get 3 or more quotes for each task to be accomplished. Also, ask for written quotations detailing the scope of the work and the price. You may also check with the Better Business Bureau or Chamber of Commerce to find out if any complaints have been lodged.

• Concerned about Earthquakes? There are a number of publications available from the Geological Survey of Canada, located at the corner of Robson Street and Seymour Street in Downtown Vancouver. You can visit their web site at http://gsc.nrcan.gc.ca/org/vancouver/bookstore/index_e.php One of the best books I’ve read is Titled “Vancouver, City On The Edge” by John Clague and Bob Turner, Tricouni Press Vancouver ISBN 0-9697601-4-0 It’s a great read, easy to understand and gives you the straight goods about seismic activity and its potential impact on the area.

Helpful Hints for Renovating or Building in West Vancouver, Whytecliff, Horseshoe Bay, Ansell Place, Pasco Road, Ocean Point, Lions Bay, Porteau Cove, Furry Creek, Howe Sound:

• Start with a good understanding of the property to be renovated. As part of your due diligence process, and as I always recommend as a Condition to be satisfied in your Contract Of Purchase and Sale, hire a qualified Home Inspector or other professional to give you a clear determination of the overall state and condition of the home. You may want to hire a professional Engineer if you are concerned about possible structural issues, and a Plumber, Electrician, Pest Control or other professional to address specific questions or concerns you may have before removing subjects and committing to a purchase of real property. This is also a good time to ask prospective Builders to walk through the home with you to develop an idea of what may be realistically accomplished and a rough idea of costs associated with a renovation.

• Establish a Budget for the project. Allocate budget dollars for each area of your renovation based on the quotes you receive from various Trades people or your General Contractor. Get 3 or more quotes for each area of the project.

• Arrange for Construction Financing before you get too far down the track. Your Bank or preferred Lender will explain what may be required in order for them to advance funds, (e.g. Property Appraisal, Land Survey, Title Insurance). Construction Financing tends to carry a higher lending rate than a conventional mortgage. Look for a product that allows you to pay off the loan without penalty and/or to roll it into a conventional mortgage at the end of the project. Alternatively, a line of credit may provide a more flexible option for your particular circumstance.

• Talk to your Home Insurance provider.  Renovations to a home can involve changes to existing policies or require specific coverage to provide adequate protection and coverage. Don't find out that you are not covered due to an oversight!

• Avoid making constant changes to your plan, layout, components, or material quality. Changes cost money. Get your plan straight and stick to it. Avoid the temptation to upgrade to a fancier, higher quality, more expensive product, fixture, or finish. Otherwise be prepared for “Change Orders” that your Builder or Trades person will have you agree to and sign. These can cost you a lot of money at the end of the day if you do not maintain self-control.

• This being said, you have to be happy with the end result, and what looks good on paper does not always look good in person. If you must make a change, try to make it before your Trades people have completed work on a particular area of the project. Its a lot easier to move a stud wall before the plumbers, electricians, insulation and drywall Trades have finished their work.

• Avoid making structural changes after you’ve framed in an area as this could entail redistribution of structural loads, re-drawing of structural plans, installation of additional support posts and beams, time and materials to remove and rebuild framing, and extra site inspections by your engineer and the building inspector, all contributing to extra costs.

• Give yourself enough time to complete your renovation. Trades people are in high demand and cannot drop work they have committed to previuosly in order to start work on your project. Create a renovation schedule or critical path/timeline before you begin, detailing what needs to be done and in what sequence. Know how long each task should take, when it should be completed and whom you expect to do the work. Give Trades people lots of lead time, and make sure you have a “Plan B” in the event one or more of your Trades let you down.

• Ensure all Trades people working on your project carry their own Worker’s Compensation coverage, are covered by the General Contractor’s WCB policy or your own Owner/Builder WCB coverage. Ask for WCB Registration numbers and make sure they are in good standing with WCB. Otherwise, if workers are injured on your site, you can be held liable. Contact WCB at http://www.worksafebc.com/

• Do some of the work yourself if you are willing and able. Whether you help with demolition, daily site clean up, painting or carpentry, (if you have the skills), you can save money by investing some “sweat equity” in the project. Be sure to register with the Workers’ Compensation Board WorkSafe BC to obtain insurance coverage in case of personal injury! http://www.worksafebc.com/

• Set up an account(s) with a building materials supplier(s). This can make it easier to order and have materials delivered to your job site. Also, you may receive extra discounts on your purchases. Again, shop around a number of potential building suppliers to make sure you are getting the best value for money. Limit the number of people with signing authority or place a maximum dollar value on individual signing authority to avoid problems.

• Remember, there is no such thing as the perfect house!! Don’t set yourself up for disappointment. Make sure you have realistic expectations.

Disclaimer: The opinions expressed herein are based on my own experiences and intended as for use as a general outline. The reader should decide on actions appropriate to their own circumstances, based on their own due diligence and research. No warranty or guarantee is expressed or implied. Not responsible for errors or ommissions. Not intended to cause or induce breach of an existing Agency agreement.

Anita Schmitt, REALTOR Royal LePage Northshore