When house hunting in Toronto’s west end, here are the main types of fixer-uppers you will come across and how to evaluate their worthiness:

1) Complete gut job

This is the home that has never been renovated and is still in its original state which means it’s most likely 100+ years old.  In this case, the house will likely need to be taken down to the studs, even if it has been lovingly maintained, as many of them are.  Old plumbing, Knob and tube wiring likely lurks beneath the walls, old oil burning furnaces are common in these types of homes as well.  Old homes were build without insulation in the walls which will now need to be added as the current building code requires it. Another consideration, is the presence of asbestos.  Opening walls and uncovering asbestos is an expense you must be prepared for as there are very specific handling and removal requirements that must be adhered to for the health and safety of everyone.

This type of renovation will require more time for planning, design and acquiring permits, then doing the actual job.  These types of renovations will take a minimum of 8 months plus (depending on the size of the home). You will also want to be ready with a contingency fund for unexpected costs, uncovered once the walls come down.

Is this the one?

• House considerations – inspect the foundation – any cracks or leaks, can part of the house be salvaged – general structure and major slanting issues can be hard to fix. If the house has good bones, nothing else really matters, other than the renovation budget and if you can afford to pay for the type of renovation you want.
• What are your plans for the renovation and are they realistic for what the neighbourhood will allow? There’s often risk with adding too much square footage.  Neighbour disputes, encroachments etc. Be prepared to adjust your plans and design requirement if you get into any disputes.
• The opportunity of the location and after spending all this money will you over capitalize in the neighbourhood. You can put $300,000 into your renovation, but that doesn’t always equate to a home selling for $300,000 more in the end.  If most houses in that neighbourhood are selling at a certain price point, a fancy renovation will not always lead to a significantly higher than average sale price, when you do sell.  Do your homework and always ask yourself: If you had to sell the renovated house quickly after the reno, would you recover most of your money?

Important warning:

If you have never renovated a home before, have no renovation connections or aren’t in this industry, this is not the right choice for you. A complete renovation from head to toe is best left to someone with experience and capital.  When you start to dig into these houses, there can be a lot of expensive surprises.

Kathy can spot a great gut job from a mile away, having personally re-build and renovated two homes in Bloor West Village. There is a steep learning curve, and Kathy has learned it.  A fountain of knowledge, insight and ideas when it comes to home renovations of this magnitude, Kathy is the person to speak to if you are considering a fixer-upper requiring a full gut.

★ For more information on the realities of buying and renovating a home check out:

• How The Rising Cost Of Lumber Could Impact Your Renovations
• Top 3 Things Every Toronto Home Buyer Must Know in 2021!
• Key Steps To Buying A House In Toronto

2) Move in ready with cosmetic updates

This would be an old Toronto home with updates, but still a lot of work to do.  There have been so many advancements in the home renovation industry, that even a renovation done in the early 2000’s can be out of date by now.  Not only design-wise, but also in terms of carbon footprint.  There are so many green choices available now for home renovations, from low-flow toilets to specialized window glass designed to keep your home cool in the summer, and warm in the winter. Not to mention there are many Government of Ontario incentives available to help modify your home to be as efficient and ecologically friendly as possible.

This type of home offers a great opportunity to add some serious value with renovations.  We are talking more than just a coat of paint. Kitchen and bathroom updates, basement underpinning, main floor renovations etc.  These are all great updates to consider adding to a home that has good bones.

Is this the one?

• Evaluating these homes requires more detailed information.  Along with the basic foundation and bones evaluation, you should consider various other elements: Is the electrical and plumbing up to date? How old is the roof and other mechanics? Is there a possibility of asbestos? We’re the previous updates done properly, to code and with quality materials? A great example of this is old additions. Are they structurally sound or will they need to be taken down to adhere to current building code?

Pavlena has renovated most parts of her Parkdale Victorian home, at different times. The most recent a complete overhaul of her 3rd floor to include a primary suite and two additional bedrooms for her girls. Starting from scratch in an old Victorian and unearth some unanticipated surprises.  Pavlena has weathered these storms and is the one you should speak to if you are considering a localized renovation with the goal to maintain existing charm and character.

★ For information on renovations and resales be sure to read:

• Should You Renovate or Move? The 3 Big Factors
• 5 Quick & Cheap Upgrades That Will Add Major Value To Your Home Sale
• The Real Estate Debate: Should I Sell Or Buy First?

Kathy and Pavlena can tell the a fixer-upper’s potential the moment they step inside.

As a NESTED client you benefit from our expertise and experience. We have years of personal experience dealing with fixer- uppers, and by extension, trades people and contractors in the city.

• We specialize in Toronto’s old homes
• We know how to pick an opportunity over a lemon
• We work with builders who trust us to find them valuable opportunities
• No two homes in the west end are the same
• We can help you budget (ballpark) for future renovations

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