Posted by
RE/MAX
on 24 May 24
Categories:
Building & Renovation
It might seem like a matter of pure semantics, but understanding the difference between renovating and remodelling allows homeowners to make more informed decisions about their home improvement projects.
While the difference might seem insignificant to some, Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that many homeowners and buyers confuse the terms, and this can often cause a misalignment on their timelines and budgets.
As a brief explanation for the two terms, renovation tends to focus on updating and refreshing existing elements, while remodelling involves more substantial changes to the structure and layout of a space. “The budget and timeframe for completing a renovation versus a remodelling project can vary significantly. Using the terms interchangeably can be misleading and can sometimes lead to false expectations around how long and how expensive the project will be,” Goslett warns.
To provide greater clarity on the terms, renovation typically involves restoring, repairing, or making minor upgrades to existing features and / or structures within the home without changing the fundamental structure of the space. A renovation project might include things such as painting, replacing flooring, or updating outdated fixtures and fittings. These are typically short-term projects and do not cost as much as a remodelling project would.
Remodelling, on the other hand, goes beyond renovation and involves making significant changes to the structure and / or layout of a space. This may include altering the floorplan, moving walls, expanding rooms, or completely changing the purpose of a space (e.g., converting a garage into a living area). Remodelling projects often require more extensive construction work and therefore typically takes longer to complete and costs significantly more than a simple renovation project would.
“Importantly, most remodelling projects will require planning approval, where most renovations will not. This will also have an impact on timelines and expenses,” Goslett highlights.
Not only does understanding the difference between renovating and remodelling help homeowners plan accordingly and set realistic timelines, it can also impact the expectations around the possible return on investment.
“While both can potentially increase the value of a home, remodelling projects that significantly improve the functionality of a space may have a greater impact on resale value compared to simple renovations. The best way to gain a realistic expectation on the possible returns is to involve a real estate professional from the start. As suburb and industry experts, RE/MAX agents can provide accurate projections on the possible returns for each project based on what’s happening within their local market,” Goslett concludes.
