“DIY” Renovations, 3 Considerations

Team Gill • June 9, 2016

If you’re a homeowner, the day will come (if it hasn’t already) when you’ll be faced with decisions surrounding home repairs, renovations and upgrades. Why? Because at various points in the life of your house, structural issues will need to be addressed; additionally, your tastes will become more refined and popular decor trends will shift and transform.

… Lots of good reasons to get work done.

But out of the shadows of these potential changes, the following question will inevitably arise, “Do I attempt it myself?” In an age of YouTube and Pinterest, more people than ever are strapping on the tool belt, and looking to handle their own home renovations and repairs; this in lieu of hiring a professional tradesman, contractor or handyman.

Certainly there are potential pros and cons to walking both roads, and as is the case with many things, the answer to this question isn’t black and white, but rather a shade of grey. The following are three things to think about as you consider who will handle your future home renovation(s):

Cost

Obviously, money will be a factor in any decision you make. Most often, the simple truth will be as follows: it will be much more cost effective for you to buy the raw materials and handle things yourself, provided you have the skills necessary to pull it off. On the other hand, if your income can reasonably handle the strain of paying a professional, consider the time and effort that it will take for you to finish that which needs to be done, even if you do feel as though you’re qualified.

Very simply: the cost-to-time ratio has to make sense. If it doesn’t, you may be walking down the wrong road. Although you will no doubt save money by doing the renos yourself, poor-quality work carries a different type of cost.

Quality

Related to the cost of the renovation is the quality of the renovation. Certainly many of us have the ability to swing a hammer. However, in a world where repairs and renovation work must be done well, ask yourself the question, “Is my ‘DIY’ dream taking away from the resale value of my home?”

Will people inspect your work and find it lacking? Will the finished product be a point of pride, or a sore spot? Answering these questions will help you discover how to proceed.

Urgency

Finally, let’s talk about urgency. Does the renovation need to happen quickly? Will the time frame hinder you in terms of gaining the skills necessary to do a good job, and in good time? If this is the case, and the funds are available, consider calling someone who has experience in completing these tasks. Do this rather than risk the farm by jumping into something for which you’re not adequately prepared.

Again: cost, quality and urgency; all things to think about as you consider how to proceed with your home renovations. Remember, there are no wrong answers (necessarily); only misinformed answers. Do the research, ask around, take the time to prepare, and you’ll walk the right renovation road!

In any case, if you would like to look at financing your next renovation project by accessing the equity you have built up in your home, we should talk! Interest rates are at an all time low, and a refinance might make sense for you!

 

This article originally appeared in the June 2016 Dominion Lending Centres Newsletter. 

Share

Sign up to to our newsletter to hear weekly updates on market news, timely buyer/seller tips, and up to date rates

SIGN UP
Mick & Sheila Gill
CANADIAN MORTGAGE EXPERTS
RECENT POSTS 

Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart

By Team Gill • August 11, 2026
Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart There’s no denying it—buying a home is an emotional journey. In a competitive market, it can feel like you need to stretch beyond your comfort zone or bid above asking just to have a chance. That pressure can make it hard to separate what you want from what you can realistically afford. One of the biggest pitfalls buyers face is falling in love with a home that’s outside their price range. Once that happens, every other property seems like a compromise—even the ones that might have been a perfect fit otherwise. The best way to avoid this heartache? Get pre-approved before you start shopping. What a Pre-Approval Does for You A mortgage pre-approval gives you more than just a number—it provides clarity, confidence, and protection: Know your buying power : Shop within your true price range and avoid disappointment. Spot potential roadblocks : Uncover issues like credit bureau errors before you make an offer. Get organized : Learn exactly what documentation you’ll need so there are no surprises. Lock in a rate : Many lenders hold your rate for 30–120 days, giving you peace of mind if rates rise. Save yourself heartache : Protect yourself from falling for a home you can’t afford. Head vs. Heart Buying a home is about balance. Your head tells you what’s financially sound, your heart tells you what feels right—and both matter. A pre-approval helps bring those two sides together, so you can make confident choices without emotional stress clouding your judgment. The Bottom Line Looking at properties for fun is one thing—but if you’re serious about buying, a pre-approval is the smartest first step you can take. It sets realistic expectations, saves time, and protects your emotions along the way. If you’d like to explore your options and get pre-approved, I’d be happy to walk through the process with you. Let’s make sure you’re ready to shop with confidence.

Best Mortgage Options for Canadian Homebuyers

By Team Gill • July 28, 2026
Thinking of Calling Your Bank for a Mortgage? Read This First. If you're buying a home or renewing your mortgage, your first instinct might be to call your bank. It's familiar. It's easy. But it might also cost you more than you realize—in money, flexibility, and long-term satisfaction. Before you sign anything, here are four things your bank won’t tell you—and four reasons why working with an independent mortgage professional is the smarter move. 1. Your Bank Offers Limited Mortgage Options Banks can only offer what they sell. So if your financial situation doesn’t fit neatly into their guidelines—or if you’re looking for competitive terms—you might be out of luck. Working with a mortgage broker? You get access to mortgage products from hundreds of lenders : major banks, credit unions, monoline lenders, alternative lenders, B lenders, and even private funds. That means more options, more flexibility, and a much better chance of finding a mortgage that fits you. 2. Bank Reps Are Salespeople—Not Mortgage Strategists Let’s be honest: most bank mortgage reps are trained to sell their employer’s products—not to analyze your financial goals or tailor a long-term mortgage plan. Their job is to generate revenue for the bank. Independent mortgage professionals are different. We’re not tied to one lender—we’re tied to you. Our job is to shop around, negotiate on your behalf, and recommend the mortgage that offers the best balance of rate, terms, and flexibility. And yes, we get paid by the lender—but only after we find you a mortgage that works for your situation. That creates a win-win-win: you get the best deal, we earn our fee, and the lender earns your business. 3. Banks Don’t Lead with Their Best Rate It’s true. Banks often reserve their best rates for those who ask for them—or threaten to walk. And guess what? Most people don’t. Over 50% of Canadians accept the first renewal offer they get by mail. No questions asked. That’s exactly what the banks count on. Mortgage professionals don’t play that game. We start by finding lenders offering competitive rates upfront, and we handle the negotiations for you. There’s no guesswork, no pressure, and no settling for less than you deserve. 4. Bank Mortgages Are Often More Restrictive Than You Think Not all mortgages are created equal. Some come with hidden traps—especially around penalties. Ever heard of a sky-high prepayment charge when someone breaks their mortgage early? That’s often due to something called an Interest Rate Differential (IRD) —and big banks are notorious for using the harshest IRD calculations. When we help you choose a mortgage, we don’t just focus on the interest rate. We look at the whole picture, including: Prepayment privileges Penalty calculations Portability Future flexibility That way, if your life changes, your mortgage won’t become a financial anchor. A Quick Recap What your bank typically offers: Only their own limited mortgage products Sales-focused representatives, not mortgage strategists Default rates that aren’t usually their best Restrictive contracts with high penalties What an independent mortgage professional delivers: Access to over 200 lenders and customized mortgage solutions Personalized advice and long-term financial strategy Competitive rates and terms upfront Transparent, flexible mortgage options designed around your needs Let’s Talk Before You Sign Your mortgage is likely the biggest financial commitment you’ll ever make. So why settle for a one-size-fits-all solution? If you're buying, refinancing, or renewing, I’d love to help you explore your options, explain the fine print, and find a mortgage that truly works for you. Let’s start with a conversation—no pressure, just good advice.