What You Should Know Before Starting DIYs
The summer of 2021 is shaping up to be a busy season for DIY and contractor led home improvement projects across the country. With the current escalating price of building materials and with construction costs higher than they have ever been before it is more important than ever that dwelling values are reviewed and updated.
“During the summer months of 2020, lumber spiked by up to 600% from high demand for general home improvements, particularly fencing and decking. This pandemic related spike caused reduced outputs from mills and manufacturers creating longer processing times and backlogs at warehouses due to staff shortages.” – OPTA Canadian Reconstruction Cost Updates Report for Q1 2021
Are you looking to tackle some renos?
With materials still in high demand, we understand homeowners may be eager to purchase everything needed for projects and get started on work, but before you start renovations it is important to notify your broker of your plans.
You should contact your broker at the start of construction about the changes being made to your property to check:
- If the home should be re-evaluated
- How the renovations will affect your policy or any endorsements you have in place
Renovations to inform your broker about can include, but are not limited to:
- Kitchen upgrades
- Bathroom upgrades (including plumbing and fixtures)
- Flooring and roofing upgrades
- Any attached structures (sunrooms, decks and gazebos, etc.)
- Addition of a swimming pool
- New office space
- Addition of a home gym
- New or improved outbuildings (including play structures or other permanently installed outdoor equipment)
- Landscaping on the premises
Stay safety minded while working
After reviewing the renovation plans with your broker, it is important to stay safe while doing any project. For example, when working with power tools, always make sure cords are in good condition – not frayed or cracked – to avoid shocks or sparks that can injure you or start fires.
Here is a list of links to more safety tips that may help you when renovating:
- Home electrical safety
- Fire extinguisher operation and maintenance
- Knob and tube wiring and Aluminum wiring
Our homes have been a big part of our stories over the past year, so it is great to give them some attention and a refresh – just don’t forget to let your broker in on the plans so there are no surprises for either of you.
If you are planning any renovations this year, we hope you stay safe and that they turn out great!