Home renovations are not for the faint of heart. Whether it's a small bathroom renovation, a complete kitchen upgrade, finishing a basement, or completely gutting and redoing your entire home, home renovations can be both exciting and stressful.

Pre-planning and knowing what steps to take are keys to a successful renovation. We've put together your ultimate home renovation guide to ensure you stay on track and enjoy the ride.

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Step 1: Understanding Your Why

The first step in planning your home renovation is to ask yourself why you are doing it. Your why will dictate so much—your timeline, your budget, what type of fixtures or furnishings you purchase, etc.

For example, if you are planning a bathroom renovation because your shower is leaking, that comes with a sense of urgency. On the other hand, if you just want to update the look of your bathroom but it is currently functional and leak-free, that comes with a completely different timeline and priority.

If a family member is coming to live with you and you suddenly need to finish the basement into a basement apartment, that also has different priorities than just wanting extra living space in your home for entertaining.

Knowing your personal 'why?' is critical. Without understanding why you are renovating, you may end up making decisions that don't work for you in the long run. For example, if you really want that luxurious stand-alone tub but you just don't have the finances for it right now, if you're just upgrading your bathroom so it's a little more up-to-date, maybe saving money for an extra three or four months for that beautiful stand-alone tub would be worth the wait.

Step 2: Priorities

Now that you know your why, the next step is to list your priorities or non-negotiables.

I always suggest that my clients make a list of wants and needs. These are two very different things. For example, if you're planning a bathroom renovation and you have bad knees and are having knee replacement surgery, having a curbless or zero clearance shower will be a need, not a want.

If you are planning a basement renovation and you are originally from the UK and have a lot of relatives come to visit and stay for two weeks at a time, creating a bedroom and a three- or four-piece bathroom in the basement could be a necessity. However, putting a fireplace in the basement and a custom-built bar might really just be a want.

Be crystal clear about what your priorities are. Even though you may think having a quartz countertop is a need, you could likely live with the laminate countertop for a few more years if the Natural Stone puts you over budget. You could always settle for laminate now and upgrade down the road when it's in the budget. Know what you can't live without and what you can put on your wish and want lists.

Step 3: Budget

When we meet with a client for the first time to talk about their home renovation project, we often ask what their budget is for the project. More often than not, they really have no idea.

Knowing your budget is very critical when planning your project. We recently met with a potential client who wanted us to quote on a bathroom renovation. She wanted the tub and tiles removed, a deep soaker tub installed, new tiles on the wall, new flooring, a new vanity, a new toilet, new lighting, and new paint. She said she didn't have a set budget, but when we returned with the quote, I thought she was going to have a heart attack. She'd been too afraid to tell us that her budget was around $5,000. A lot of time was wasted talking about an extensive bathroom renovation when that wasn't nearly possible with a $5,000 budget. A little bit of honest and frank conversation upfront would have saved everyone a lot of time. This would have enabled the client to either rethink the budget or the renovation plans.

Too often, clients are afraid to tell us what they really want to spend on the renovation project because they think if they give us a number, we will come in $10 lower than that number, even though the project might have been $2,000 cheaper. If you truly think the contractor you're inviting into your home would do that to you, you shouldn't be inviting them into your home for a quote in the first place.

Although price is also important, you should be hiring a contractor that you completely and totally trust, as well as one that understands you and your goals and dreams. If you don't even trust them enough to tell them what your budget is for the project then you need to find a different contractor to provide you with a quote.

Talk to them over the phone before they come to your home to get a feel for whether you like the sound of the company. Spend 10 minutes chatting. You will have a good idea of what the company is like and what their values are.

If you are unwilling or unable to finance the project, knowing your budget and expressing that to your contractor is key. So how do you determine your budget if you have no idea how much your project will cost?

There are several places you can search to get a rough idea of the cost. For example, Homewyse and HomeAdvisor are both places that will give you an idea of renovation costs. Always go with the high-end estimation to be safe.

Also, you can call contractors and let them know you are in the very early stages and you just want to set a realistic budget for your project. Tell them you're looking for a guesstimate so that they don't spend hours and hours doing a quote for you at this early stage. Most good contractors will chat with you for 5 to 10 minutes to provide you with a rough idea for planning purposes.

Always make sure that you pad your budget with an additional 10% to 25% to cover unexpected surprises. To learn more about allowing a contingency in your budget planning, click here.

Once you've got an idea of how much you're willing to spend on your project, consider that cost versus the return on your investment. This is where it's important to return to your why. If you are selling your home in a year or two, you want to ensure that most of the dollars you invest in your renovation are going to give you a great return on your investment. To find out which renovations give you the greatest return on your investment, click here.

However, if your renovation is to accommodate mobility issues, the ROI will not be terribly important. Check out the remodeling impact report published by the National Association of Realtors for the remodelling industry. This is research and statistics from an American perspective, but it can give Canadians an excellent reference point. Not only do they talk about the return on investment, but they also provide a joy score. This is a number from 1 to 10, which rates how much enjoyment homeowners receive from a particular project. If you're not planning to sell your home, the joy score is an important number to consider.

Step 4: Design

The next step is to dream about what your renovated space will look like. There are lots of places to look for inspiration.

Pinterest is a place where many of our clients go to dream. Pinterest is a search engine, just like Google. In the search bar, just type in what you're looking for, and tons of beautiful photos and ideas will come up.

For example, try searching for stand-alone tubs, and you'll be amazed at all of the photos that come up. Search general items as well, such as ensuite bathroom renovation, to get a bigger picture.

I always suggest that our clients create a vision board or even just get a pocket folder. You know the type... It's like those duo-tang folders we used in high school, but it has pockets on either side to store things.

Don't just look for photos of things you really like. Also, look for photos of things you don't like. Print or clip (from magazines) photos from renovations you like and those you don't. You don't even have to necessarily like the entire picture. There may be certain things you like and dislike about each photo. Use a red marker to circle the things you don't like and a green marker to circle the things you do. If applicable, put the likes on one side of the folder and the dislikes on the other. When you're ready to work with a designer or contractor, this will give them an excellent idea of your style and preferences.

Step 5: Is There a Deadline?

The next step is determining if your project has a deadline. This could be one of the most important steps in this entire process.

Almost 20 years ago, we met with a client who was super excited about finishing his basement. He was really happy with us as a company, and our quote fell within his budget. From the time we first met to the time he offered us the job, it took about 3 weeks..

He then turned to me and said, "I'll see you next week on the job site." What this client forgot to tell us is that his son was moving back home, and he was finishing the basement so his son could have his own private space to live. The project needed to be done before his son moved in. He forgot to tell us that, and we forgot to ask.

Asking that very important question of whether there is a deadline for the project is now part of our process when someone calls to book the initial quotation meeting. Most home renovations that are simply updates or home improvements don't usually come with specific deadlines, but if your life dictates that your project needs to be completed by a certain date, then that should be the first conversation you have with a contractor when you call for a quote. Particularly if they are a general contractor and don't have their own employees who do all of the work, it's not just their timelines they need to be concerned about; it's also the timelines of all of their subcontractors that need to be considered.

Step 6: Selecting the Contractor

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Selecting your home renovation soulmate is the most important decision you will make in this entire process.

This decision shouldn't be made based on price. Far too many homeowners get three quotes, and whoever gives the lowest quote gets the job.

Although price and budget are important, picking a contractor that's the right fit is far more important in the long haul. You are establishing a relationship with your contractor. Not only will they be in your home for anywhere from two weeks up to two months, depending on the scope of your work, but you are hoping to establish a good enough relationship that you can return to that contractor anytime you want to make home improvements in the future.

Having a good relationship with a contractor will afford you certain luxuries down the road. For our longtime clients who consistently refer people to us and utilize our services over and over again, we would jump through hoops for them, even if it had nothing to do with renovations.

We have cooked meals and taken them to our clients when we found out a loved one was in the hospital and they were stressed over their health. We've gone to the funerals of our clients' parents and friends to offer our support. And when they've needed us because they couldn't reset a breaker on a Saturday night at 9 p.m. and their hot tub ran the risk of freezing up, we've dropped everything and gone out to take care of things for them.

Our long-term clients become our family and friends, and there isn't anything we wouldn't do for them. Our clients tend to reciprocate with us as well. When one of my clients found out I had emergency surgery over Christmas, she made some homemade soup and brought it down to us. Those are the types of relationships that money can't buy.

When selecting which contractors to call for estimates, ask your friends for referrals. Most of our business comes from repeat customers and referrals. That's the best way to find a reliable, trustworthy contractor.

Check the reviews that you find online and check their credentials. Make sure your contractor is licensed for the scope of work that you're planning to have done. Read their testimonials and check out their website. Do the values they represent on their website resonate with your personal values? For more information on how to select a reputable contractor click here.

Step 7: Get Ready

This next step of getting ready may seem like an obvious one, but you'd be surprised how often we go into a client's home to start demolition on their kitchen cabinets and we find dishes and pots and pans still in some of the cabinets. Or we will be planning to take down a structural wall, and they still have artwork and family portraits hanging on those walls.

Start your project right by preparing the area for your renovation. Empty out cupboards that are going to be removed; clear everything out of the vanity that is being replaced; and move the tools, boxes, or any other equipment out of the basement where the crew will be working on finishing your basement. And although it may seem like a simple task, clean your toilet before making the demolition crew remove and dispose of it! Toilets are disgusting enough, but if you haven't cleaned them in 3 or 4 weeks, think about what you're putting the plumber through. Treat your renovation crew the same way you would want to be treated: with respect and kindness.

If you have a lot of stuff in your home and the renovation is taking place in a large area, consider renting a pod, a portable on-demand unit that either sits in your driveway or at the company's storage facility, to store your belongings while the renovation is taking place. These are relatively inexpensive units that you can rent for a month at a time, and they will keep your items safe and out of the way, making the renovation run smoothly.

If you plan on leaving large pieces of furniture in the room where the renovation is taking place, make sure that your contractor knows that in advance so they can come prepared with drop cloths, plastic sheets, etc. Also consider whether you need to make other living arrangements during your renovation project. Do you only have one bathroom in the house, and you know you're going to be without your toilet and shower for at least a week or longer? Is it a whole house renovation, and your whole house will be in disarray? Would it be better for the contractor to schedule your renovation project while you spend a month at the cottage or on vacation? If it's a kitchen renovation, where will you set up a temporary kitchen? Is it summertime and you can barbecue in your backyard, or is it January and you need to set up a temporary kitchen in your basement? Click here for more information on how to live without a kitchen during a kitchen renovation.

Step 8: During the Job

The most important piece of advice I can give you while the job is going on is to ensure that you are available for the contractor to reach you.

If you will be out of the house and at work, make sure they have your cell phone information as well as your work number. If you're away at the cottage or on vacation, again, they need to be able to reach you should questions about emergencies come up.

If you aren't available or can't be reached, make sure that you give them an alternative to call—someone who is capable of making decisions on your behalf. This can be critical to ensuring the job keeps moving smoothly and efficiently.

The second most important piece of advice I can give you is to be patient. No matter how many times we tell clients how long to expect a job to take, they always start to get impatient after the two- to three-week time frame, even if they were told it's a large project and will take two months.

The two- to three-week time frame seems to be a trigger for everyone, no matter what. If you want the job done right, then don't rush your contractor and don’t always ask them when it will be completed. In the words of Mike Holmes, it will be done when it gets done.

One of the biggest problems we've noticed over the years is that clients forget that the more they add to a project after it's started, the longer it will take than originally projected. We had a client who added over $17,000 in change orders after the project had been contracted and scheduled but still expected the entire project to be completed in the same time frame. That just isn't possible. Every additional task you add to the project and every change that is implemented adds to the timeline. This is where it becomes especially important for you to be patient.

Delays can happen for any number of reasons, including shipments of materials not arriving when they were expected, employees getting sick, or even changes in your own life.

We were in the middle of an ensuite bathroom renovation when a client’s mother died unexpectedly. Our client needed time to grieve and asked us to walk away from her job for a while. Obviously, that changed our schedule quite a bit and left us in a difficult situation, but we were more than happy to oblige, completely understanding her need to be alone and have time to grieve. Three weeks later, we were invited to come back. Our client understood that we'd wrap up the alternate work we'd taken on in her absence and would be back to complete her project as soon as possible. Expecting delays to happen and having a good attitude when they do will make the job more joyful for everyone.

When the job is almost done—let me repeat that—when the job is almost done, make a punch list of little things that might have been overlooked or deficiencies that you see. I stress and put emphasis on "when the job is almost done", because one of my pet peeves is clients who come to us after our third day on the job site with a list of things that aren't completed. If the job was expected to take weeks to complete, it's not appropriate to be handing me a list of unfinished items on the third day.

Give your contractor time to complete the work. Often, it's very difficult to see how a particular project will come together while it's still a work in progress. Be patient and wait until the contractor stipulates that they are almost done. If in doubt, ask them about the process.

Please don't provide them with a punch list when they still have plenty of work to do on site. The time for the punch list is when they are less than a week from completion. Your punch list should include things like caulking that was missed, paint touch-ups, missing trim, or any other defects you see.

Do a thorough walkthrough, looking up, down, left, and right. Use a flashlight to look for defects in the drywall work. Don't be afraid to put something on the list. Your contractor will let you know if it is already on his list of defects to correct.

Most good contractors will already be aware of the items you put on your punch list, but it's always a good idea to point everything out. Make sure everyone is aware of what they are responsible for.

If you think a particular item was completely missed on the project, before you put it on the punch list, look back at the contract. We finished a basement for a client, and they asked us when the shower doors were going to be installed. I told them that it was never part of the contract, and they got quite offended. They went back and immediately reread the contract, realizing that they had never requested shower doors and that they were never part of the original deal. It was just an oversight, easily missed. Easy enough to rectify, but please don't accuse your contractor of missing something that was never in the contract in the first place.

For more information on how to read and interpret a renovation contract, click here.

Step 9: Celebrate

This is a step that is so often overlooked.

Celebrate your success! You've just planned, prepared for, researched, and successfully executed a renovation project in your own home. It's time to take pictures and post them on social media. Plan a little get-together with family and friends and show off your gorgeous, magazine-worthy renovation! Include one of those photos in a thank-you note that you send to your contractor. Let them know how grateful you are for the wonderful job they did. That can go a long way toward securing the great relationship you want to have with them long-term. Now's the time to relax and enjoy your beautiful new home!

Summing it all up…

If I had to sum up the advice in this post in one word, it would be PLAN. You really need to be prepared in order to have a successful home renovation. That means leaving yourself enough time to do it right. Don’t decide this weekend to do a bathroom renovation and then go on an all-out search to find a contractor who can start next week because you’re all excited about your dream. Take the necessary time to research, plan, and do it right. Have fun with your renovation. It doesn’t have to be stressful, nor should it be!