Smart money tips from the PC Financial team
to help make the everyday simple and better.


By Karen Sealy on May 16, 2017

How to Add Value (and space!) to Your Home

How to Add Value (and space!) to Your Home

Not long ago, formal spaces such as the sitting and dining rooms were considered a priority in the home. As designers, we stuck to traditional floorplans, keeping each living space separate to minimize disruption and contain individual rooms based on their functionality. Housing size also made a difference – often we worked with a lot more square footage back then!

As houses began shrinking, space became a luxury. If you didn’t have a lot of it, you could certainly create an illusion of it with open floorplans. Today, open concept homes are highly coveted; they help bring key living spaces together, maximize efficiency of small spaces with clean, uninterrupted sightlines and make a home feel bigger and brighter.

If you’re considering a renovation to introduce the open concept to your home, I recommend the following tips to get the most out of your space:

  1. Before you start knocking down walls, consider the structural integrity of your home. Consult with an expert such as an architect, structural engineer or interior designer to get advice on your reno.
  2. First determine the functionality of the different spaces to help you decide what renovation elements are important to include based on your needs. For example, the family room should be designed with lots of cabling, from electrical for charging and powering electronics, to HDMI for movie watching, to audio wiring for built-in speakers in order to support home technology.
  3. Make sure to incorporate storage into the design. It’s always great if they can be hidden or disguised as furniture (think hidden pantries or storage benches) so that the space doesn’t get too cluttered.
  4. Build a budget and consider the payment options. Renovation costs can add up, which is why it’s important to examine how they’ll affect your finances. Refinancing a mortgage, or taking a secured line of credit, can be a great way to help cover costs and invest back into your home.

If you’re considering re-financing or taking up a secured line of credit, PC Financial services have a wide variety of low-interest rate options. Some PC Financial Mortgages even allow you to earn PC points that can be redeemed towards groceries and home products at participating Loblaw banner stores. This way, you’re able to be rewarded with everyday necessities while you spend more on larger investments that will have great benefits later on. To learn more about refinancing and PC Financial mortgages, set up an appointment to speak with a specialist.

This is a sponsored post on behalf of President’s Choice Financial® services. The opinions on this blog are my own.