I absolutely love this. Totally lays everything out, doesn’t sugar coat it. Not like other channels where it feels like, “In 2 weekends we flipped the entire house!” No, he’s 100% realistic, weeks of work for each room/project. But the payoff is so worth it! Great job guys!
The most important is for new owners to know that this beautiful house was remade by Jeff! That means the highest level of quality! Jeff , I wish you and your family all the best in 2022 !
THANK YOU for not hiding this content behind a paywall. There are so many DIY and contracting channels on UA-cam that are happy to talk technique, but the moment dollar amounts are involved, they say "Well if you go to my website and "support the channel" you can see all this content". I get that UA-cam doesn't pay what it used to, and people need to make a living, but damn, there's value to society in the free dissemination of information. Thank you for being bold enough to release this video for free.
@@HomeRenoVisionDIY hey great video and channel. I think I watched all of your videos and even play them while driving instead of music/talkshow radio. I'm going to play devil's advocate for a second and ask: my question comes down to your profit: that's approximately 2 years of work for 2 people. Wouldn't the profit come up to $50k per person per year? In the trades profession isn't that on the low side for a skilled tradesman? Working 40 weeks a year shouldn't they make more? This is no way trying to dismiss the work you did/do. The house is AMAZING. Something I would hope to strive for. My question comes down to how individuals should value their time. I don't think I would ever be able to pay you or your son a salary of $50k a year to do the amazing work you did. At what point would your time be considered more valuable than $50k/year?
I totally get the question. Three things. I was training my son from scratch on most of this project so It takes a lot longer to work training then it does alone. His compensation was room and board and I am paying for his education. another consideration is that the value was based on expenses incurred while making videos which takes a lot longer than just working. I also have a full time job as a content creator so I was only working 4 hrs a day. plus all the money made was tax free! And I live in a rural area so the housing boom was not really a thing. I also did most of the work from the perspective of retiring there. many choices could have been made to lower the cost of the project and complete in a much shorter time frame thus increasing my profits. But in the end I am happy with the work and the reward. Cheers!
Jeff, Thanks for sharing your tips, tricks and knowledge. The house looks amazing! I have a question on the $211,000 investment. Was the $211k all for materials, taxes and permits or is some of that $211k for labor costs? Could you give a more detailed breakdown for the $211k, for example, material costs room by room. Thanks, Lloyd
Bought a 100 year old home and watched your videos to do so many of my renovations with confidence even though I did not have the skills at the time. When I was doing something I watch your video over and over until I felt I could do it. I installed new range hood, new vanity, new kitchen sink paint walls. Still have more to do but it will get done soon enough thanks for the great videos over the past 2 years
This is why I became a member of this channel. I bought a house March 2021 with the intent of renovating. Because of this channel, I've been able to. I actually had similar numbers for my kitchen renovation. We didn't get all new appliances, so our costs were about $14,000. But it looks like $40,000. Thanks Jeff! I owe you. Especially the DIY backsplash video.
From Worcester MA as a homeowner I watch all your videos to learn. I just can’t thank your wife enough for convenience you to start this channel. Thank you so much Jeff.
Love your videos, and learn so much. But it's worth mentioning that the average house prices around Ottawa have gone from 352K, to 530K from 2013 to 2020. With that in mind a lot of the profit is not a direct result of the home improvement, but just sitting on a house for 7 years. Still, what I've picked up from watching your project is priceless ;-)
Average home prices may factor slightly, but a below average home will still go for below average pricing. This home, sat on for 7 years without renovation, would not have sold for 450k to net him the same profit as the renovations garnered. Typically, renovations are not going to add much more value to your home than the average, rather maintain them to meet the average home value in the area. tl:dr a shit house is still a shit house no matter the market.
Investment-wise, you need to hold any dollars you put into an investment against an index fund. In this case, if Jeff had thrown $250k at nasdaq in 2020 (using the two-year timeline outlined in this video), then his profit would have been $140k for doing absolutely nothing. If you apply the full investment of $451k, then his profit would be $261k after two years. It's hard to calculate this one because he slowly poured $211k into the home over the course of two years, so the profits wouldn't all be the same. However for simplified analysis, as an investment not including the monetization of youtube and related streams of income, this remodel was a sub-par investment. If you factor in the time spent and apply a reasonable hourly wage, the opportunity costs make it an even less desirable investment. As "Jeff" or another homeowner could put $250k into NASDAQ in 2020, and worked as a handyman or contractor over the course of those two years and the net revenue would be almost double what was produced here. I like what Jeff is doing here. But you can't look at investments inside a bubble. They need to be graded against a curve.
@@chase.wilson capital gains tax on the realized profit would also factor into the index scenario. Also, he is likely investing it through his business not his person. Which comes with some tax benefits.
As a fellow Ottawan and DIYer living in an 1895 house, your channel is a god send. Also, your delivery, pacing and details in every one of your videos is amazing. I wish I had you doing some of the work on this old place but having these as references is a good alternative. Thanks for the hardwork and wicked content
Your interior work choices are excellent! You saved a ton of money by leveraging your skill set, for sure. The exterior work that you out-sourced really highlights the massive financial bullet that you bite when you don't do the work yourself. Those roofing guys took you to the cleaners, imo. Great video all around. Thanks for being transparent!
I get so much value out of your channel. I've been renovating an 1860 carpenter gothic house in the north-east the last 18 months. It's our family's first home and a true labor of love. You're a legend for sharing all these pearls with us.
In my 11 years in our old granny house we purchased, I transformed that house into something amazing for us. When I got close to finishing all my projects up, my wife and I realized that maybe it would be the ideal time to sell. We sold the house for a very good price and it sold in 1 day! I did all the work myself, I gutted every bathroom, restructured the lower level, all the things you teach us on your channel. I learned a lot from your shows. And for that, I thank you. We made enough that once we purchased our new home, I started moving and making this home into our dream home.
Jeff I've been watching your channel for the past few years and added a ton of value into our house. After gutting a 70's bathroom, paint, light fixtures, ceiling fans, building a huge multi person desk, gutting and insulating our garage we now have an increased home value of $100,000 in Oklahoma. I'm about to tackle the biggest project yet our master bedroom, closet, and bathroom. After that project our kitchen is the last untouched space to be completed. I've done everything with cash on hand and our family has grown to 6 people. Thank you for providing such detailed information and multiple options on how to get something done. I never would have thought about starting even the smallest project before I found your channel. My wife, kids, and I thank you! Congratulations on making that farmhouse a beautiful place to live.
Thank you for taking the time to send such an encouraging message Abel. I can't express how much Joy we feel over here when we hear messages about how our little channel is helping to change lives like yours. It is an honor to help anyone who is willing to help themselves. Congratulations to you and all your hard work. That is why we do what we do. Cheers from Canada!
Preach Jeff! I'm financially independent at 34 because I did exactly what you said over the last 10 years. When my friends were out partying and on vacation I was spending every night, weekend, and holiday remodeling my first and second houses. It's hard work, and frustrating at times, but sooooo worth it!
The BEST renovation and informational channel. I have no clue how to renovate anything, but I’m a single young women who needs to have an idea of what work is involved and costs. This helps me from being taken advantage of which happens A LOT to demographics like myself. Thank you for all of the information and content. I often wish, gosh can these guys come to my townhome? Lol The episode that really helped me decrease my anxiety of where to go from here is the Hurricane Ida one. Whew the amount of water that entered my home was crazy but the videos helped me to understand what I need and ensure the job isn’t being half stepped. God bless you all!
I just want to thank you again we started our house so we can help my mom after my dad passed it has not went as fast as we have wanted due to funds $$$$ and we work full time but we are getting so close!!! it’s getting exciting. Thank you 😊
Thank you for making all this info available for folks via UA-cam. We just bought our first house & are excited to get goin with stuff now that we have some ideas about what to do! Your videos have been the most helpful resource (including while we did our shopping for the house we got!)
Jeff you really break it down for everyone to see in such an honest and genuine way. You deserve every praise for this and all the videos you have out there. Has certainly help me A LOT. THANKS
Trevor is an old colleague of mine! I had no idea where you were based until I saw this video! One of the smartest plumbers I’ve ever had the experience of working with!
In my opinion this is the best video that exist on the cost breakdown of renovating a home .This is and as it should be the blueprint to figuring where your money will be going and the average amount of what you can look to spend . Fantastic video Jeff can't wait for the next one. GOD BLESS YOU AND YOUR FAMILY
It was oddly nostalgic to watch you talk through all those projects. I had lots of moments of, "oh yeah, I remember when Jeff's video taught me how to do (fill in the blank...)." Thanks for everything! Fixing up my house became a sanity-saving endeavor during COVID.
Congrats on the sale, it feels great to finish projects like that. The house has been an excellent resource for so many people. I'm sure the new owners value the video reference of all the work you guys have done!
Thanks for sharing, Jeff. I am diy-er and saved huge amount of money by renovating my own house. I put that money towards quality products I am using for reno and also having lots of fun!
I have been watching you and your family since day 1. Beautiful way to bring everything together. You’ve taught me a lot, and help give me the confidence to push forward. From Detroit to Canada thank you sir!
Reminds me of the TV shows, thet buy a house for 40k, spend 5 days and sell it for 200k, I'm like yeah right. Thanks to your channel I felt confident to renovate my stairs, bought a table saw and some other tools, I have a few projects for 2022 already base on your channel
You legend. We bought our first home at the beginning of 2021 and after being inspired by your videos, we've been slowly purchasing the necessary pieces to start remodeling. I can confidently say your channel (along with House Improvements) has been an absolute game-changer.
I have seen a lot of renovations as a business owner and DIY'er, and your renovation on this property was stunning. I've used a lot of the knowledge that you've shared, and Max has documented on your channel. Thank you for what you do, and I'm looking forward to learning more with the church project.
I started renovating my bathroom after watching a ton of YT videos including nearly all of yours. Working on the bathroom on weekends, with a full time job, and a family with kids, it has taken me 8 months and about the same price as your bathrooms. I learned a lot though, thanks Jeff. With what I know now, I could do another bathroom way faster. There's just so much to learn, and I didn't want to make a critical mistake -- working with water is no joke in a home.
Great words of wisdom and encouragement! Love the fact that you are transparent in everything your doing. As a contractor myself I try to be open with the customer and teach them along the way. This way they know what they are getting when giving up their hard earned $. Keep up the good work!
This is most honest and realistic expectation in terms of time and cost on house renovation I have ever heard. Do what you do best Jeff really helpful to others. I learned a lot from your channel on DIY.
I would not necessarily classify it as realistic in terms of cost. The majority of folks on here would have to hire out most of the electrical and plumbing among other things so the actual cost is not realistic from my perspective. He did most of the work himself saving thousands upon thousands of dollars.
@@ricmndy1Most of it was not DIY-proof lol : siding, foundation, structure, retaining wall, grading, etc. Plus a lot of the profits they made selling the house could be attributed to the rapid increase of the prices of house these last 2-3 years alone. So all in all I'd say it was probably a nice project for an ex general contractor like him, but nothing realistic for a casual homeowner.
Thanks Jeff! Still working on the finish touches of my kitchen/upstairs reno of a 1970s bungalow and there honestly isnt a single part of it you haven't helped me with. Yea i knew a decent amount before seeing your videos but all your pointers and tips have helped so much and it even made my 69 year old grandfather realize there is alot better and more efficient ways of doing things! It takes time while Im still working full time but the thought really is there to give it all up and start doing this kind of thing! Cheers man!!
I associate myself with all the positive comments in this thread. So thankful to Jeff, Max, Michelle and the kids for all you’ve done, are doing and continue to do. Lucky to be part of the Home Reno classroom.
This made me realize that my day job is a better bang for my buck. I make a lot more at my job than I would make renovating. However, I know I love doing projects regardless of the money spent. Great hobby!
Interesting project. I inherited the 1870s farmhouse my great-great-grandfather built near Gananoque - another old Ontario farmhouse. Now I'm retired, but only intend to use it for a vacation place (though year-round). I'm using your videos to prioritize my upgrades and will tackle some of those myself or with friends (my dad was a stone mason & bricklayer and 45 years ago as a teenager I helped him build his houses, so I've got some basic (but rusty!) skills. He'd build a new house and sell it every 3 years or so). Very helpful to see the modern techniques, products and understand current codes.
Thank you, Jeff. Your the man!! I appreciate your thorough explanation on each and every project from start to finish. I’ve watched almost every video posted and have learned a ton. Your attention to details is excellent. Thank you and your family for helping me learn new skills for my projects. Very professional and well done! Cheers!
I have been watching your show for years! And I have always loved how you explain everything so concisely- very easy to learn, easy to watch and absolutely great content! Thank you for sharing your knowledge and process! Keep up the great work Jeff!
I'm not new to renovations. I think what you do Jeff is admirable in many ways, from the high end to the low. I've done all types myself, from mansions to apartments. Doing it right is what matters. I actually haven't watched this yet but I know it will not disappoint. Of everything you do, the thing you should be proudest of is that your son is with you, learning from you. Someday, he'll outpace you and of all the spectators, you will be the first to cheer at losing, to your son. I see many years down the road and what I see is a legacy based on hard honest work and skill building, a legacy you built. I have no sons Jeff. If blessed with a son, no son could be more blessed than a father with skillful hands and patience that you have to teach him the skills to not only survive but succeed. God approves.
Jeff, I am in awe of all the work you folks did...what a difference with the before and after photos. I gotta tell ya....this video was really well presented. I am not nearly as skilled as you, and don't have the friends etc to help, but it still is exactly like you said, put your time, energy and the things you learn from your channel into practice and over time, watch the investment happen. Honestly, once you get a reno done by yourself, it feel D A R N awesome in your spirit and mental health. Thanks Jeff....and editing crew💯🇨🇦
Thanks for doing this wrap up. The house turned out beautiful and I've gleaned a lot of tips from the videos I've watched. I have no plans to renovate my entire house, but your tips and instructional videos have given me the confidence to tackle some smaller scale projects (kitchen backsplash, painting, etc) I never would've tried before watching you!
I've been doing my own projects as well. Bought a 950sqft house built in 1940 on 2 acres. My first project was upgrading and expanding the kitchen. All new cabinets, appliances, and granite counter top. added nearly 40sqft of counterspace and spent about $7,000 doing all of it myself. Had a completely empty basement with concrete floors and I put up walls, new lights, painted the exposed ceiling black, tiled the entire floor with porcelain planks, and did the whole basement myself for $5,000. we got lucky cause the flooring was on clearance for $0.66/sqft. Built a 12'x24' deck off the back of the house for just under $2,000 myself also. I've done all of this in just over 2 years so far while working 40-60 hours/week. Its been a labor of love but now we are stuck deciding weather we want to do a big addition or buy land and build a modular home. But either way I've added a lot of value so far
I’ve learned so much from watching your videos through the years. Sincerely thank you for sharing your wealth of knowledge to us simpletons :). I’ve gained enthusiasm and confidence to do house projects because of you and your team. Wishing you all continued success! 🙏
Love that you put this out there. Shows you have nothing to hide. I did check out the house when you put it up for sale. I thought your asking price was very reasonable for what you were providing. Sucks you got less, but at least you got what you wanted out of it. Keep up the great work and content. Any time I'm unsure about something when doing work around the house, it's your videos I check out.
Pizza and beer cost haha. Great video. I really like the piece by piece method. That’s what I am doing in my house. Every year I have three projects I focus on. By watching your channel it has helped me learn what I can do myself, when I need to call in friends (that’s the pizza and beer cost) and when I need to hire an expert for an area I can’t do myself like electrical and roofing. Thanks again for being so honest and open about DIY projects. I have really learned to focus on what is a priority and what can wait. Doing my kitchen and downstairs flooring in 2022. 👍
Never knew you were in ottawa!! Greetings from Cambridge. Just bought an 1870s victorian farmhouse. I have a feeling ill be watching a lot more of this series!
Love your channel. Want to say though that you invested a lot of money into this home and to be fair, your profits are representative of the times we're in. You bought it 7 years ago and if you finished and listed it in 2 years (2016-17) you'd be seeing significantly less profits. Not only because the housing market bubble was not as insane back then, but also because Ottawa wasn't affected as much as other major cities in Canada. Having said that, this project provided a lot of useful content for your viewers (which I'm sure factored into the quality and quantity of individual projects).
This project was not profit driven for sure. we were planning on retiring here. However the success of the channel has led us to sell and look for new adventures. Cheers!
@@HomeRenoVisionDIY I'd say that's a nice little pivot! Congrats! Make yourself some money and teach us along the way. Everybody is better off as a result! Thank you Jeff.
Thanks Jeff for your wealth of knowledge. I bought a house 1 year ago and it took me 8 months to renovate. I knew nothing about renovating or use powertools before and now I finished all the interior. I bought an old bungalow in Mtl at 100k below market price because it needed work. I put in the work and now if I were to sell it, I wouldve made 150k. By the end of the reno I was so tired and wished it was over. Now, Im getting the itch to renovate my backyard lol! cant wait till summer. Thanks Jeff and keep the videos coming! Glad u made money on your project!
And the real kicker- he probably made that much on the videos themselves as well! You guys are definitely putting in the work. Excellent job, and keep it up!
Jeff, just awesome. Currently renovating our retirement home and almost everyday I go and see what Jeff says about this mess that I am in. Thanks for the help.
Jam packed video, love it. Here in the states it wouldn't have been as straight foreward though, lots of bs rules and regs, even if you know what your doing. But I agree whole heartedly in learning as much as you can because any sweat equity is money saved. I redid my basement with zero carpentry knowledge only hiring carpet and an electrician and it saved me thousands and turned out awesome.
It looks amazing! You are amazing 🤩 you have helped us a lot my husband has used your tips and we are hoping to move in our little house in another month. Lord willing 🙏🏻🙏🏻🙏🏻
We just sold a house in south (ala) we’ve been working on it for at least two years because I work full time at my job Me my son and wife and I don’t get around like I use to but we did most of the work ourself and yes I watched a lot of your videos and other peoples but mostly yours because yours were straight forward by the code and where I am there very stricter
Do you feel like there are greater profit margins on higher end homes or mid range homes? Canada is a different market than the states here in Texas obviously, but remodeling full time, it takes me around 2-3 months to remodel a medium size home (1700-2200 sq foot 3-2-2’s) and profit around $100k each. As opposed to a massive high end farm house which would probably take 6 months+ full time. Just looking to hear your pro opinion.
I wonder what the house would have cost you when you had bought it two years ago right before you started renovating. Surely 7 years ago the housing market was in a very different state, and I bet part of your profit is due to market changes. Still an awesome project, love seeing these videos!
interesting point. I also missed the height of the market demand and probably a lot of additional profit. The main focus here is if you remodel your own house over time you will make a really good profit from the effort.
I agree that there has been a great deal of market appreciation over the past 2 years however I suspect that houses in more rural areas (#1 realtor tip - buy in the right location, and rural locations are usually not the right location) and also next to a busy road (realtor #3 tip - never buy next to a busy road) have appreciated the least . Jeff's main point that "investing" in oneself by improving your property, and therefore increasing one's net worth, is still great financial advise. Also this means that you will not seek to buy a move-in-ready house, which most all buyers desire. Real estate investors (and DIY's) have a competitive advantage because they seek fixers, which have the possibility of being priced too low as compared to the additional cost to bring the property up to "move in ready" condition. Move-in-ready homes can generally only be purchased at fair market value because the market is efficient if multiple buyers bid on a house.
I am actually surprise that it was sold for 650. I was expecting it to sell for minimum of 800. Love this video and the break down. Thanks Jeff for helping all the DIYers with your videos
All of these people on UA-cam trying to get you to buy their bullsh*t program to get rich, and here Jeff is giving it to us for free. You are the OG Jeff!!
Great cost break down, overspent on a few things but all in all when you do it right you never lose. Bought my first reno at 19 (1989) tripled my money and have done that a few times and still doing it, just bought a 22-acre ranch house and took it down to the studs just last week and have already been offered double what I paid for it. (Maybe I should start a reno channel, NO WAY that's harder work than doing a reno)
I have been watching your videos for a few weeks now and really enjoy. I bought a new to me house and moved in June. It was built 2008. I used to (up to 20 years ago) be able to do all my own work but now I got too old and weak too fast. Now at 66 I can't even lift a full 4x8 panel of gypsum board. My desk job did me in. Final note, it is crazy here in central VA. Any contractor worth their salt is too busy. Already had two pull no shows and self firings after waiting for a few months.
Thank you so much for all this information and knowledge. After you said that it was originally the retirement home, I got sad. It is so gorgeous, perfect for you guys to enjoy it. But at the same time I remember you said you are empty nesters and yes, that cash flow it is totally peace of mind too. I get it now.
Cheers Jeff and your Crew. I definitely understand how much value is added if you can do it yourself I sold in the high of this year after a complete basement reno, I added a 4th bedroom, bathroom, family room and office. It took me a year on my days off and evenings. In the end after it sold I made 194000 in the 4 years I had it but unfortunately I had to buy in the Ottawa market at the same time 🤢 cheers happy new years
You explained it so nicely Jeff. Something that I think is also interesting in renovating a house is the followings, it's possible to get a loan for the renovation you plan to do, but it's better to pay cash so you don't have interest on the amount. The 2nd thing is, I've been renovating for the last 5 years on night and weekends (I am super slow as I am an office guy) but I can't seem to track of my expenses as I go so many time to the store (hardware store mostly) during the process and I buy a lot in advance when stuff is in sale. People are asking me how much it cost and I never know hahaha. You did a great approximation job for me, thanks.
As always, Jeff, you took a 2 year project and summarized the work and costs concisely.
Cheers Dave!
I absolutely love this. Totally lays everything out, doesn’t sugar coat it. Not like other channels where it feels like, “In 2 weekends we flipped the entire house!” No, he’s 100% realistic, weeks of work for each room/project. But the payoff is so worth it!
Great job guys!
Cheers Nate. Thanks!
The most important is for new owners to know that this beautiful house was remade by Jeff! That means the highest level of quality! Jeff , I wish you and your family all the best in 2022 !
Thank you. I am sure they will enjoy it!
THANK YOU for not hiding this content behind a paywall. There are so many DIY and contracting channels on UA-cam that are happy to talk technique, but the moment dollar amounts are involved, they say "Well if you go to my website and "support the channel" you can see all this content". I get that UA-cam doesn't pay what it used to, and people need to make a living, but damn, there's value to society in the free dissemination of information. Thank you for being bold enough to release this video for free.
Happy to do so. Cheers!
Excellent Jeff, all the videos that went along with this house were incredible. I've learned so much from your videos, thank you.
Happy to be able to make a living helping people. Cheers Chris!
@@HomeRenoVisionDIY hey great video and channel. I think I watched all of your videos and even play them while driving instead of music/talkshow radio.
I'm going to play devil's advocate for a second and ask: my question comes down to your profit: that's approximately 2 years of work for 2 people. Wouldn't the profit come up to $50k per person per year? In the trades profession isn't that on the low side for a skilled tradesman? Working 40 weeks a year shouldn't they make more?
This is no way trying to dismiss the work you did/do. The house is AMAZING. Something I would hope to strive for. My question comes down to how individuals should value their time. I don't think I would ever be able to pay you or your son a salary of $50k a year to do the amazing work you did. At what point would your time be considered more valuable than $50k/year?
I totally get the question. Three things. I was training my son from scratch on most of this project so It takes a lot longer to work training then it does alone. His compensation was room and board and I am paying for his education. another consideration is that the value was based on expenses incurred while making videos which takes a lot longer than just working. I also have a full time job as a content creator so I was only working 4 hrs a day. plus all the money made was tax free! And I live in a rural area so the housing boom was not really a thing. I also did most of the work from the perspective of retiring there. many choices could have been made to lower the cost of the project and complete in a much shorter time frame thus increasing my profits. But in the end I am happy with the work and the reward. Cheers!
Jeff,
Thanks for sharing your tips, tricks and knowledge. The house looks amazing!
I have a question on the $211,000 investment. Was the $211k all for materials, taxes and permits or is some of that $211k for labor costs?
Could you give a more detailed breakdown for the $211k, for example, material costs room by room.
Thanks,
Lloyd
"DIY isn't for everybody, but it is something everybody should be doing..." Learn, build the skills, apply yourself. Love it!
Bought a 100 year old home and watched your videos to do so many of my renovations with confidence even though I did not have the skills at the time. When I was doing something I watch your video over and over until I felt I could do it. I installed new range hood, new vanity, new kitchen sink paint walls. Still have more to do but it will get done soon enough thanks for the great videos over the past 2 years
My pleasure! Cheers!
This is why I became a member of this channel. I bought a house March 2021 with the intent of renovating. Because of this channel, I've been able to. I actually had similar numbers for my kitchen renovation. We didn't get all new appliances, so our costs were about $14,000. But it looks like $40,000. Thanks Jeff! I owe you. Especially the DIY backsplash video.
That is awesome! Way to go Joe!
From Worcester MA as a homeowner I watch all your videos to learn. I just can’t thank your wife enough for convenience you to start this channel. Thank you so much Jeff.
Love your videos, and learn so much. But it's worth mentioning that the average house prices around Ottawa have gone from 352K, to 530K from 2013 to 2020. With that in mind a lot of the profit is not a direct result of the home improvement, but just sitting on a house for 7 years. Still, what I've picked up from watching your project is priceless ;-)
Average home prices may factor slightly, but a below average home will still go for below average pricing. This home, sat on for 7 years without renovation, would not have sold for 450k to net him the same profit as the renovations garnered. Typically, renovations are not going to add much more value to your home than the average, rather maintain them to meet the average home value in the area.
tl:dr a shit house is still a shit house no matter the market.
Investment-wise, you need to hold any dollars you put into an investment against an index fund. In this case, if Jeff had thrown $250k at nasdaq in 2020 (using the two-year timeline outlined in this video), then his profit would have been $140k for doing absolutely nothing. If you apply the full investment of $451k, then his profit would be $261k after two years. It's hard to calculate this one because he slowly poured $211k into the home over the course of two years, so the profits wouldn't all be the same. However for simplified analysis, as an investment not including the monetization of youtube and related streams of income, this remodel was a sub-par investment. If you factor in the time spent and apply a reasonable hourly wage, the opportunity costs make it an even less desirable investment. As "Jeff" or another homeowner could put $250k into NASDAQ in 2020, and worked as a handyman or contractor over the course of those two years and the net revenue would be almost double what was produced here.
I like what Jeff is doing here. But you can't look at investments inside a bubble. They need to be graded against a curve.
@@chase.wilson capital gains tax on the realized profit would also factor into the index scenario. Also, he is likely investing it through his business not his person. Which comes with some tax benefits.
As a fellow Ottawan and DIYer living in an 1895 house, your channel is a god send. Also, your delivery, pacing and details in every one of your videos is amazing.
I wish I had you doing some of the work on this old place but having these as references is a good alternative.
Thanks for the hardwork and wicked content
17:57 -- Thank you Jeff! I hope the rest of the world is listening to that advice. So important...
Your interior work choices are excellent! You saved a ton of money by leveraging your skill set, for sure. The exterior work that you out-sourced really highlights the massive financial bullet that you bite when you don't do the work yourself. Those roofing guys took you to the cleaners, imo. Great video all around. Thanks for being transparent!
I get so much value out of your channel. I've been renovating an 1860 carpenter gothic house in the north-east the last 18 months. It's our family's first home and a true labor of love. You're a legend for sharing all these pearls with us.
Cheers Nick. happy to help!
In my 11 years in our old granny house we purchased, I transformed that house into something amazing for us. When I got close to finishing all my projects up, my wife and I realized that maybe it would be the ideal time to sell. We sold the house for a very good price and it sold in 1 day! I did all the work myself, I gutted every bathroom, restructured the lower level, all the things you teach us on your channel. I learned a lot from your shows. And for that, I thank you.
We made enough that once we purchased our new home, I started moving and making this home into our dream home.
July 2023 another added benefit was helping and educating so many others around the world. Thank you all 🎈
Jeff I've been watching your channel for the past few years and added a ton of value into our house. After gutting a 70's bathroom, paint, light fixtures, ceiling fans, building a huge multi person desk, gutting and insulating our garage we now have an increased home value of $100,000 in Oklahoma. I'm about to tackle the biggest project yet our master bedroom, closet, and bathroom. After that project our kitchen is the last untouched space to be completed. I've done everything with cash on hand and our family has grown to 6 people. Thank you for providing such detailed information and multiple options on how to get something done. I never would have thought about starting even the smallest project before I found your channel. My wife, kids, and I thank you! Congratulations on making that farmhouse a beautiful place to live.
Thank you for taking the time to send such an encouraging message Abel. I can't express how much Joy we feel over here when we hear messages about how our little channel is helping to change lives like yours. It is an honor to help anyone who is willing to help themselves. Congratulations to you and all your hard work. That is why we do what we do. Cheers from Canada!
Aaaand this is why this channel is the best DIY reno on youtube! Thx Jeff!
Probably the most relevant DIY video I've ever watched. You just don't get this complete package of info with breakdowns anywhere else. Thanks Jeff!
Cheers! just wanted to help set expectations.
Thank you, started watching you last year and so the more I watched the more I learned!
Preach Jeff! I'm financially independent at 34 because I did exactly what you said over the last 10 years. When my friends were out partying and on vacation I was spending every night, weekend, and holiday remodeling my first and second houses. It's hard work, and frustrating at times, but sooooo worth it!
Cheers Amber
@@HomeRenoVisionDIY
Your a bad ass
The BEST renovation and informational channel. I have no clue how to renovate anything, but I’m a single young women who needs to have an idea of what work is involved and costs. This helps me from being taken advantage of which happens A LOT to demographics like myself.
Thank you for all of the information and content. I often wish, gosh can these guys come to my townhome? Lol
The episode that really helped me decrease my anxiety of where to go from here is the Hurricane Ida one. Whew the amount of water that entered my home was crazy but the videos helped me to understand what I need and ensure the job isn’t being half stepped. God bless you all!
Thank you. Happy to hear we have been helpful. Cheers!
I just want to thank you again we started our house so we can help my mom after my dad passed it has not went as fast as we have wanted due to funds $$$$ and we work full time but we are getting so close!!! it’s getting exciting. Thank you 😊
Thank you for making all this info available for folks via UA-cam. We just bought our first house & are excited to get goin with stuff now that we have some ideas about what to do! Your videos have been the most helpful resource (including while we did our shopping for the house we got!)
This break down was awesome.
I felt the sincerity in his voice at the end.
You seem like a great guy.
Jeff you really break it down for everyone to see in such an honest and genuine way. You deserve every praise for this and all the videos you have out there. Has certainly help me A LOT. THANKS
Man you're the greatest. You need a TV show.
Trevor is an old colleague of mine! I had no idea where you were based until I saw this video! One of the smartest plumbers I’ve ever had the experience of working with!
In my opinion this is the best video that exist on the cost breakdown of renovating a home .This is and as it should be the blueprint to figuring where your money will be going and the average amount of what you can look to spend . Fantastic video Jeff can't wait for the next one. GOD BLESS YOU AND YOUR FAMILY
Wow, thank you! Have an awesome 2022. Cheers!
good
It was oddly nostalgic to watch you talk through all those projects. I had lots of moments of, "oh yeah, I remember when Jeff's video taught me how to do (fill in the blank...)."
Thanks for everything! Fixing up my house became a sanity-saving endeavor during COVID.
Cheers to sanity. happy we could help!
Congrats on the sale, it feels great to finish projects like that. The house has been an excellent resource for so many people. I'm sure the new owners value the video reference of all the work you guys have done!
Thanks for sharing, Jeff. I am diy-er and saved huge amount of money by renovating my own house. I put that money towards quality products I am using for reno and also having lots of fun!
Cheers Danny, well done!
14:50 The before and after's are insane. It feels like we teleported to totally different house! Nice job guys.
I have been watching you and your family since day 1. Beautiful way to bring everything together. You’ve taught me a lot, and help give me the confidence to push forward. From Detroit to Canada thank you sir!
Reminds me of the TV shows, thet buy a house for 40k, spend 5 days and sell it for 200k, I'm like yeah right. Thanks to your channel I felt confident to renovate my stairs, bought a table saw and some other tools, I have a few projects for 2022 already base on your channel
Boom! now that is what I like to hear!
You legend. We bought our first home at the beginning of 2021 and after being inspired by your videos, we've been slowly purchasing the necessary pieces to start remodeling. I can confidently say your channel (along with House Improvements) has been an absolute game-changer.
I did all my house by my self and thank you for your helping people your amazing
Cheers Hiam. well done!
I have seen a lot of renovations as a business owner and DIY'er, and your renovation on this property was stunning. I've used a lot of the knowledge that you've shared, and Max has documented on your channel. Thank you for what you do, and I'm looking forward to learning more with the church project.
I watched every video and know how hard you and Matt worked.
Really appreciate your support Larry. Cheers!
Just bought my first house and your channel is becoming my go to for help.
Much love from all the way in Scotland X
Cheers to Scotland! AMTFBWY
I started renovating my bathroom after watching a ton of YT videos including nearly all of yours. Working on the bathroom on weekends, with a full time job, and a family with kids, it has taken me 8 months and about the same price as your bathrooms. I learned a lot though, thanks Jeff. With what I know now, I could do another bathroom way faster. There's just so much to learn, and I didn't want to make a critical mistake -- working with water is no joke in a home.
got that right. Cheers and well done! love to see a pic on our Instagram!
Great words of wisdom and encouragement! Love the fact that you are transparent in everything your doing. As a contractor myself I try to be open with the customer and teach them along the way. This way they know what they are getting when giving up their hard earned $. Keep up the good work!
Cheers!
This is most honest and realistic expectation in terms of time and cost on house renovation I have ever heard. Do what you do best Jeff really helpful to others. I learned a lot from your channel on DIY.
I would not necessarily classify it as realistic in terms of cost. The majority of folks on here would have to hire out most of the electrical and plumbing among other things so the actual cost is not realistic from my perspective. He did most of the work himself saving thousands upon thousands of dollars.
@@ricmndy1Most of it was not DIY-proof lol : siding, foundation, structure, retaining wall, grading, etc. Plus a lot of the profits they made selling the house could be attributed to the rapid increase of the prices of house these last 2-3 years alone. So all in all I'd say it was probably a nice project for an ex general contractor like him, but nothing realistic for a casual homeowner.
Thanks Jeff! Still working on the finish touches of my kitchen/upstairs reno of a 1970s bungalow and there honestly isnt a single part of it you haven't helped me with. Yea i knew a decent amount before seeing your videos but all your pointers and tips have helped so much and it even made my 69 year old grandfather realize there is alot better and more efficient ways of doing things! It takes time while Im still working full time but the thought really is there to give it all up and start doing this kind of thing! Cheers man!!
I associate myself with all the positive comments in this thread. So thankful to Jeff, Max, Michelle and the kids for all you’ve done, are doing and continue to do. Lucky to be part of the Home Reno classroom.
Cheers Colin, happy to have you along for the ride! Cheers and Happy 2022
This made me realize that my day job is a better bang for my buck. I make a lot more at my job than I would make renovating.
However, I know I love doing projects regardless of the money spent. Great hobby!
Best channel on YT. I've been subscribed for years and you're the most important subscription to this day.
Wow, thanks! We appreciate that!
Congrats! I know you are excited to complete this project! Beautiful job! Thank you for taking me along to learn!
Cheers It was our pleasure, now on to the next adventure!
Interesting project.
I inherited the 1870s farmhouse my great-great-grandfather built near Gananoque - another old Ontario farmhouse.
Now I'm retired, but only intend to use it for a vacation place (though year-round). I'm using your videos to prioritize my upgrades and will tackle some of those myself or with friends (my dad was a stone mason & bricklayer and 45 years ago as a teenager I helped him build his houses, so I've got some basic (but rusty!) skills. He'd build a new house and sell it every 3 years or so).
Very helpful to see the modern techniques, products and understand current codes.
Cheers Dan, enjoy your project! beautiful area!
Thank you, Jeff. Your the man!! I appreciate your thorough explanation on each and every project from start to finish. I’ve watched almost every video posted and have learned a ton. Your attention to details is excellent. Thank you and your family for helping me learn new skills for my projects. Very professional and well done! Cheers!
Cheers Brad. we are just getting started. New projects on the way!
You're awesome Jeff. Love the transparency in everything you do. I started working on my house because of you. Thank you sir!
Cheers William!
This is great. Even if you never sell your property, you can save a lot of money by buying a fixer and doing the renovations yourself.
thank you for the transparency and all the videos
I have been watching your show for years! And I have always loved how you explain everything so concisely- very easy to learn, easy to watch and absolutely great content! Thank you for sharing your knowledge and process! Keep up the great work Jeff!
Haven’t watched the channel for awhile, but that house turned out amazing good, well done Jeff.
Great work Jeff. Glad to see you have family support in the work that u do
Thanks Jeff for the straightforward transparent info.
I'm not new to renovations. I think what you do Jeff is admirable in many ways, from the high end to the low. I've done all types myself, from mansions to apartments. Doing it right is what matters. I actually haven't watched this yet but I know it will not disappoint. Of everything you do, the thing you should be proudest of is that your son is with you, learning from you. Someday, he'll outpace you and of all the spectators, you will be the first to cheer at losing, to your son. I see many years down the road and what I see is a legacy based on hard honest work and skill building, a legacy you built.
I have no sons Jeff. If blessed with a son, no son could be more blessed than a father with skillful hands and patience that you have to teach him the skills to not only survive but succeed. God approves.
Fantastic wrap-up video . Thanks for sharing all of those details
Glad you enjoyed it! Cheers Tim!
Jeff, I am in awe of all the work you folks did...what a difference with the before and after photos. I gotta tell ya....this video was really well presented. I am not nearly as skilled as you, and don't have the friends etc to help, but it still is exactly like you said, put your time, energy and the things you learn from your channel into practice and over time, watch the investment happen. Honestly, once you get a reno done by yourself, it feel D A R N awesome in your spirit and mental health. Thanks Jeff....and editing crew💯🇨🇦
Cheers Meg!
Thanks for doing this wrap up. The house turned out beautiful and I've gleaned a lot of tips from the videos I've watched. I have no plans to renovate my entire house, but your tips and instructional videos have given me the confidence to tackle some smaller scale projects (kitchen backsplash, painting, etc) I never would've tried before watching you!
I've been doing my own projects as well. Bought a 950sqft house built in 1940 on 2 acres. My first project was upgrading and expanding the kitchen. All new cabinets, appliances, and granite counter top. added nearly 40sqft of counterspace and spent about $7,000 doing all of it myself.
Had a completely empty basement with concrete floors and I put up walls, new lights, painted the exposed ceiling black, tiled the entire floor with porcelain planks, and did the whole basement myself for $5,000. we got lucky cause the flooring was on clearance for $0.66/sqft.
Built a 12'x24' deck off the back of the house for just under $2,000 myself also.
I've done all of this in just over 2 years so far while working 40-60 hours/week. Its been a labor of love but now we are stuck deciding weather we want to do a big addition or buy land and build a modular home. But either way I've added a lot of value so far
I’ve learned so much from watching your videos through the years. Sincerely thank you for sharing your wealth of knowledge to us simpletons :). I’ve gained enthusiasm and confidence to do house projects because of you and your team. Wishing you all continued success! 🙏
Wow! This video is amazing! Im really moved by this!
Cheers Victor.
What a guy! Best channel on UA-cam. Big fan
Love that you put this out there. Shows you have nothing to hide. I did check out the house when you put it up for sale. I thought your asking price was very reasonable for what you were providing. Sucks you got less, but at least you got what you wanted out of it.
Keep up the great work and content. Any time I'm unsure about something when doing work around the house, it's your videos I check out.
That's a great remodel and an interesting intersection.
Pizza and beer cost haha. Great video. I really like the piece by piece method. That’s what I am doing in my house. Every year I have three projects I focus on. By watching your channel it has helped me learn what I can do myself, when I need to call in friends (that’s the pizza and beer cost) and when I need to hire an expert for an area I can’t do myself like electrical and roofing. Thanks again for being so honest and open about DIY projects. I have really learned to focus on what is a priority and what can wait. Doing my kitchen and downstairs flooring in 2022. 👍
Congrats. Have a great 2022 . Cheers!
Never knew you were in ottawa!! Greetings from Cambridge. Just bought an 1870s victorian farmhouse. I have a feeling ill be watching a lot more of this series!
Love your channel. Want to say though that you invested a lot of money into this home and to be fair, your profits are representative of the times we're in. You bought it 7 years ago and if you finished and listed it in 2 years (2016-17) you'd be seeing significantly less profits. Not only because the housing market bubble was not as insane back then, but also because Ottawa wasn't affected as much as other major cities in Canada. Having said that, this project provided a lot of useful content for your viewers (which I'm sure factored into the quality and quantity of individual projects).
This project was not profit driven for sure. we were planning on retiring here. However the success of the channel has led us to sell and look for new adventures. Cheers!
Explaining this comment would be a video unto itself.
@@HomeRenoVisionDIY I'd say that's a nice little pivot! Congrats! Make yourself some money and teach us along the way. Everybody is better off as a result! Thank you Jeff.
Cheers, happy to help.
Thanks Jeff for your wealth of knowledge. I bought a house 1 year ago and it took me 8 months to renovate. I knew nothing about renovating or use powertools before and now I finished all the interior. I bought an old bungalow in Mtl at 100k below market price because it needed work. I put in the work and now if I were to sell it, I wouldve made 150k. By the end of the reno I was so tired and wished it was over. Now, Im getting the itch to renovate my backyard lol! cant wait till summer. Thanks Jeff and keep the videos coming! Glad u made money on your project!
Congratulations!
Congratulations Jeff! Excellent work, I'm glad you got a good return.
Thanks 👍
Hats off to you Jeff. Thanks for all your tutoring.
Happy to help!
And the real kicker- he probably made that much on the videos themselves as well! You guys are definitely putting in the work. Excellent job, and keep it up!
Cheers Dan!
Jeff, just awesome. Currently renovating our retirement home and almost everyday I go and see what Jeff says about this mess that I am in. Thanks for the help.
That is awesome! Cheers Jeff!
Watched quite a bit of your channel. This one brought me to tears near the end. Great work.
Cheers! I get it. Weird locking the door for the last time.
Jam packed video, love it. Here in the states it wouldn't have been as straight foreward though, lots of bs rules and regs, even if you know what your doing. But I agree whole heartedly in learning as much as you can because any sweat equity is money saved. I redid my basement with zero carpentry knowledge only hiring carpet and an electrician and it saved me thousands and turned out awesome.
This would have gone for easily a million here in Oregon. Great job Jeff as always!
different markets have different pricing for sure. Cheers!
It looks amazing! You are amazing 🤩 you have helped us a lot my husband has used your tips and we are hoping to move in our little house in another month. Lord willing 🙏🏻🙏🏻🙏🏻
Wow Jeff! Thank you for the motivation, you’re a blessing indeed.
DIY is life
Jeff, what an absolute stunning house you've turn it into. All work carried out to a very high standard 👌👌
We just sold a house in south (ala) we’ve been working on it for at least two years because I work full time at my job Me my son and wife and I don’t get around like I use to but we did most of the work ourself and yes I watched a lot of your videos and other peoples but mostly yours because yours were straight forward by the code and where I am there very stricter
Well done. Cheers!
To add one one thing housing prices aren’t as much as y’all’s about 1/4 the price on average
Excellent job Jeff. The way you explain things is amazing.
I loved your channel from the beginning and learned so much. Looking forward to the church, and thank you for sharing.
Cheers!
That house is absolutely gorgeous.
Thank you!
Do you feel like there are greater profit margins on higher end homes or mid range homes? Canada is a different market than the states here in Texas obviously, but remodeling full time, it takes me around 2-3 months to remodel a medium size home (1700-2200 sq foot 3-2-2’s) and profit around $100k each. As opposed to a massive high end farm house which would probably take 6 months+ full time. Just looking to hear your pro opinion.
This is not a model for flipping. just the result of our hard work and now we are taking our profits to invest in better filming options.
I wonder what the house would have cost you when you had bought it two years ago right before you started renovating. Surely 7 years ago the housing market was in a very different state, and I bet part of your profit is due to market changes. Still an awesome project, love seeing these videos!
interesting point. I also missed the height of the market demand and probably a lot of additional profit. The main focus here is if you remodel your own house over time you will make a really good profit from the effort.
I agree that there has been a great deal of market appreciation over the past 2 years however I suspect that houses in more rural areas (#1 realtor tip - buy in the right location, and rural locations are usually not the right location) and also next to a busy road (realtor #3 tip - never buy next to a busy road) have appreciated the least . Jeff's main point that "investing" in oneself by improving your property, and therefore increasing one's net worth, is still great financial advise. Also this means that you will not seek to buy a move-in-ready house, which most all buyers desire. Real estate investors (and DIY's) have a competitive advantage because they seek fixers, which have the possibility of being priced too low as compared to the additional cost to bring the property up to "move in ready" condition. Move-in-ready homes can generally only be purchased at fair market value because the market is efficient if multiple buyers bid on a house.
Donald gest it. Cheers!
I am actually surprise that it was sold for 650. I was expecting it to sell for minimum of 800. Love this video and the break down. Thanks Jeff for helping all the DIYers with your videos
If I wasn't so rural and on a major road it would. Cheers!
All of these people on UA-cam trying to get you to buy their bullsh*t program to get rich, and here Jeff is giving it to us for free. You are the OG Jeff!!
at least this system is guaranteed value. and I am not selling a course. Cheers!
Absolutely the best, thank you for all your help
Cheers Uli!
Great cost break down, overspent on a few things but all in all when you do it right you never lose. Bought my first reno at 19 (1989) tripled my money and have done that a few times and still doing it, just bought a 22-acre ranch house and took it down to the studs just last week and have already been offered double what I paid for it. (Maybe I should start a reno channel, NO WAY that's harder work than doing a reno)
Absolutely love it..... I'm inspired to be a DIYer.
Cheers Jeff
Beautiful home and I love the breakdown of this video.
Wishing you and your family a very Happy Healthy New Year.
Thank you Larry. Happy new year to you as well. Cheers!
I have been watching your videos for a few weeks now and really enjoy. I bought a new to me house and moved in June. It was built 2008. I used to (up to 20 years ago) be able to do all my own work but now I got too old and weak too fast. Now at 66 I can't even lift a full 4x8 panel of gypsum board. My desk job did me in. Final note, it is crazy here in central VA. Any contractor worth their salt is too busy. Already had two pull no shows and self firings after waiting for a few months.
Cheers and better luck in 2022~
Congratulations, Jeff and Team, and thanks for sharing all the knowledge along the way!
Excellent summary of coats and methods. The house has been all fixed up, just in time to be made Queensland.
Thank you so much for all this information and knowledge. After you said that it was originally the retirement home, I got sad. It is so gorgeous, perfect for you guys to enjoy it. But at the same time I remember you said you are empty nesters and yes, that cash flow it is totally peace of mind too. I get it now.
we are going to be reinvesting the money back into making content for the channel. Cheers!
Cheers Jeff and your Crew. I definitely understand how much value is added if you can do it yourself I sold in the high of this year after a complete basement reno, I added a 4th bedroom, bathroom, family room and office. It took me a year on my days off and evenings. In the end after it sold I made 194000 in the 4 years I had it but unfortunately I had to buy in the Ottawa market at the same time 🤢 cheers happy new years
I totally get it. al least you have gained all that after tax revenue. Cheers!
You explained it so nicely Jeff. Something that I think is also interesting in renovating a house is the followings, it's possible to get a loan for the renovation you plan to do, but it's better to pay cash so you don't have interest on the amount. The 2nd thing is, I've been renovating for the last 5 years on night and weekends (I am super slow as I am an office guy) but I can't seem to track of my expenses as I go so many time to the store (hardware store mostly) during the process and I buy a lot in advance when stuff is in sale. People are asking me how much it cost and I never know hahaha. You did a great approximation job for me, thanks.
best to open a separate bank acct and only buy from there. helps to track the purchases. Cheers!