96: 15 Things to Know When Building or Renovating a Home with Froese & Co.'s Troy Froese

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Welcome back to the Colonial Real
Estate Podcast.

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I'm your mortgage broker host,
Estate Podcast.

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I'm your mortgage broker host,
Taylor Atkinson.

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And I'm your real estate agent
host, Matt Glenn.

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What's happening, Taylor?
What's up?

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What's down?
Yeah, good question.

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Do you have any stocks right now?
If you do, you probably had a

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heart attack for about two days
and now you're fine.

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Everything's fine.

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Well, you get a little surge.

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We're recording this.

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What day is this?

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Wednesday the 9th.

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at 1 .30 in the afternoon.

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So this morning, there was a huge
bump because of another tariff

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announcement, which I don't think
affected Canada.

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I think we still have all the same
tariffs.

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But markets just go crazy.

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So is now a time to sell when it's

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on a bit of a high?
Who knows what is going on here?

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Definitely don't listen to us if
you have stocks that buy and sell.

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don't listen to us if you have
stocks that buy and sell.

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But I guess let's rewind this
about a week.

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Right.

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A week ago, Trump basically

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imposed tariffs globally on a
global scale to an absolute ton of

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countries.

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And it was exposed, I guess, the

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way he was calculating the tariffs
were not correct.

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Right.

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It was just basically based on

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trade deficit and then used a
multiplier and used like the

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higher of the two.

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So some countries were getting

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absolutely hammered.

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Vietnam, I think, was like a 49

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percent tariff, which is insane.

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So Shoe Dog, Phil Knight.

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nike book whoever hasn't read it
you should read it it's a great

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book but it outlined in that book
a couple times that they had to

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like move countries and he was
like over in japan and then had to

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like move it into like southeast
asia and like because of these

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type of international agreements
but i mean nike gets a ton of

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their materials and assembly from
vietnam so like nike's stock just

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absolutely plummeted, right?
Like a lot of other stocks, but

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because of this, because of those
imposed tariffs.

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And then today, you know, Trump
has, I guess, repositioned some of

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those tariffs and is coming to
some other agreements.

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So it's just like the volatility
is impossible to keep up with in

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this market.

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The goal is to onshore jobs to the

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US, is to onshore jobs to the US,
but like, who's going to spend

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hundreds of millions, if not
billions of dollars on a factory

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when things change every single
day?

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Not to mention like you're kind of
selecting for like not the

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greatest jobs to come back.

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I think a lot of people are kind

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of realizing like globalization is
probably not entirely the worst

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thing, you know, in all this.

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I think in the long term, I think

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in the long term, if it was like a
really subtle plan that was like,

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you know, spanned over 50 years to
bring jobs back to America.

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It's not like the worst strategy,
but to do it like this in just one

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foul swoop is insanity.

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As of today, of today, he

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increased tariffs to China to
125%.

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You just got to think of a
business like Amazon or Walmart.

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I don't know what it is, but it's
got to be like at least 75 % of

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everything in both of those
businesses comes from China.

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That is a massive amount.

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Everything's doubled one and a

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half times or one and a quarter
times is expensive.

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Well, yeah.

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I mean, it does a lot of things,

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right?
It increases the cost of those

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goods, but then it also hurts the
economy, GDP.

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People aren't going to be...

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spending as much money.

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So, you know, jobs are going to be
at a loss.

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It's just going to compound.

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But one of the interesting posts I

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saw, this was a couple of days
ago, obviously, it's probably back

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up to normal now, but Elon Musk
lost like $130 billion.

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whatever it was, it was like a
third of his net worth, you know,

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a billion.

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Yeah.

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Over the span of like a couple of
days.

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And he was, you know, one of
Trump's biggest supporters.

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So it's like, those guys can't be
super happy about this either.

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Can they?
Who knows?

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Maybe like he sold and then bought
back in the day before.

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Well, I was trying to think like
last night, was trying to think

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like last night, I'm like, who is
winning?

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It just seems like there isn't
anybody besides like people like

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taking like political.

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points that is actually happy

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about this.

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It just seems like everyone's mad

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about it.

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It just feels like a lose -lose.

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Is there someone making a lot of
money?

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I guess if you're betting on
market fluctuations, probably make

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some money right now, but just
crazy.

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Then how it affects us, is the
real estate market going to come

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roaring back when all these
tariffs are eventually... pulled

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off?
Or is the damage done?

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Is it slow?
Is the uncertainty just kill it?

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How does it affect selling houses
in Kelowna?

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Yeah, I think there's a couple of
things there.

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I don't even think the uncertainty
anymore.

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People are like, whatever, they're
probably over it.

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But they're not so worried about
the uncertainty of the market.

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They're probably just uncertain
about their jobs.

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The economy is going to really
suffer on this.

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But to talk about interest rates.

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So the bond market's been

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incredibly volatile because of
this.

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Yes.

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But, you know, we saw a little bit

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of a dip on some fixed rates and
then back up.

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They're moving, but they're
somewhat stagnant just because no

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lender is going to change their
rate based on a Trump announcement

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that lasts for a day.

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Like you just can't do business

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that way.

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What we are seeing, though, are

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variable rate discounts are
shrinking.

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So, you know, a couple of months
ago, like on an insured mortgage.

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let's just say like prime minus 1
.15.

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And then last month was prime
minus one, and now it's prime

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minus 0 .85.

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So that discount that clients were

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getting is starting to shrink,
which is unfortunate, but it's

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what lenders do on these type of
times that are, I guess, more risk

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on their money, right?
Because they're expecting Bank of

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Canada is going to lower rates
too, but it's just overly

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volatile.

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So they got to protect the risk a

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little bit and have that margin.

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So if you had a variable rate, a

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few months ago.

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Awesome.

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You have that discount.

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Bank of Canada makes cuts.

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You're in a great position.

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If you were going to go variable

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in the next couple of months,
yeah, you might have to start to

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reanalyze now just because of the
discount starting to shrink.

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So, you know, like just in my
business, I think uncertainty is

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kind of ruling the day right now.

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I don't anymore.

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I have one still, but I had three
listings all had accepted offers

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subject to sale, which is like
kind of funny.

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It feels like people want to move,
but there's nobody like bookending

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the transactions, right?
Like the first time home buyers,

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whoever it is, is buying the
house.

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Everyone has a house to sell.

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And then the development

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properties I have, I've had like a
lot of people, I think four now

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reach out wanting to either the
seller to finance the sale or like

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remain a partner in the project.

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So it's just like people are just

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looking like almost more
creatively, right?

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Like, yeah, it's not as black and
white.

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It's kind of funny.

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Interesting.

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I mean, I think this has kind of
been our narrative for the last

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little while is single family
homes are just going to become

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scarce.

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Oh, yeah.

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They're going to increase in value
just purely because no one can

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afford to build them right now.

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And, you know, a lot of that comes

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back to our own government with,
you know, being able to subdivide

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and just like the cost of land and
infrastructure for that land.

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But now with tariffs, the cost to
build is a huge unknown.

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So what builder is going to go out
and do a 50 lot subdivision when

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their margins 12%, their 12 %
profit could now be a 12 % loss.

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That 12 % profit is literally a
tweet away from not existing.

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Totally.

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So like if you're a developer, why

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would you even bother at this
point?

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You know, if you're a homeowner
that wants to build or like, you

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know, somebody that wants to have
some land and build their dream

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house, it's like, is it going to
be 1 .4 million or 1 .8 million to

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build?
Like you just don't know.

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That's too much of a gamble.

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So I don't think single family

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houses are really going to get the
traction.

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And our guest today, Troy Froese,
he's a home builder.

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They do it.

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All in design GC help with a lot

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of different type of projects.

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Really good resource.

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Great guy to reach out to if you
have anything on the go right now.

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Anywhere from just, you know,
medium sized renovation to a new

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build.

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But those are the guys that are

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going to be, you know, penciling
this stuff in as soon as possible.

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But I guess without any real
information, like what do you do?

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Everyone's just kind of a
standstill.

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Yeah.

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Yeah.

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It was great talking to Troy,
though.

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Knowledgeable guy doing it
himself.

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He brought a lot to the table.

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Yeah.

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Yeah.

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So he kind of touches on the best

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things and the worst things you
can do when doing a renovation or

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a new build.

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Yeah.

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Reach out to him if you have any
questions and yeah, enjoy the show

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guys.

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And this episode, like every other

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episode is sponsored by century 21
assurance realty, best brokerage

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in town, best brokerage in the
Okanagan.

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We're growing, growing in Kelowna,
burning Kamloops, Kootenays.

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We're here.

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So if you're an agent looking for

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a new place to land or a buyer or
seller looking for an agent, give

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00:08:03,220 --> 00:08:03,560
us a shout.

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Love to talk to you.

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Okay.

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Welcome to the Colonial Real

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Estate Podcast.

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Troy, how's it going?

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Good.

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Good.

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How are you?
Good.

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Thanks.

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We like to start our show with

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just what does a perfect Friday
look like other than being in my

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house doing a renovation?
Yeah.

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So is this a lunch hour?
lunch hour?

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Yeah.

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Am I getting built for this?

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Am I getting built for this?
Yeah.

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Of course it's fillable.

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Yeah.

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Yeah.

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So Troy and his crew, they are

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helping out with the renovation on
the other side of the house.

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So can speak highly of them.

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Let's dive into the show and like,

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yeah, what's your Friday look
like?

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Yeah, usually try to be up early.

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Got a young one.

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So hit and miss depending on the
night before.

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But usually try to get up before
her and have a bit of time to get

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some emails and critical stuff out
of the way first thing.

252
00:08:51,260 --> 00:08:55,580
And then I usually try to free my
morning up to spend time with her

253
00:08:55,580 --> 00:08:56,260
and my wife.

254
00:08:56,260 --> 00:08:58,680
Take it a little bit slower till

255
00:08:58,680 --> 00:09:01,300
about probably about 9, 10 and
then head out to, you know.

256
00:09:00,180 --> 00:09:03,300
check on all of our sites and, and
that type of thing.

257
00:09:03,600 --> 00:09:08,500
So yeah, if it's Friday, then
usually back to the office, try to

258
00:09:08,500 --> 00:09:10,520
wrap some things up, kind of tie
up the loose ends before the

259
00:09:10,520 --> 00:09:10,780
weekend.

260
00:09:10,780 --> 00:09:12,220
And then in an ideal world, that's

261
00:09:12,220 --> 00:09:15,440
wrapping up early, but as it goes
into the end of Friday, really

262
00:09:15,440 --> 00:09:17,440
just wind down, spend some time
with the family, you know, maybe

263
00:09:17,440 --> 00:09:19,120
try to do a barbecue or something
like that.

264
00:09:19,120 --> 00:09:21,220
And yeah, just kind of set up for
the weekend.

265
00:09:21,220 --> 00:09:21,300
Sweet.

266
00:09:21,300 --> 00:09:23,700
The whole approach of the show is

267
00:09:23,700 --> 00:09:25,160
kind of like expectations of
clients, how you communicate, how

268
00:09:25,160 --> 00:09:28,080
do you kind of set people up for
success in the initial stages,

269
00:09:28,080 --> 00:09:29,180
right?
Because I feel like a lot of

270
00:09:29,180 --> 00:09:30,980
people in Kelowna want to do
renovations, additions, basement

271
00:09:31,140 --> 00:09:33,380
suites, they want to add value to
their home.

272
00:09:33,610 --> 00:09:37,190
But you know, where do you start?
So you kind of came up with the

273
00:09:37,370 --> 00:09:39,990
idea of, you know, top five best
things and five worst things.

274
00:09:39,990 --> 00:09:42,070
So yeah, maybe if we want to go
through that.

275
00:09:42,070 --> 00:09:43,630
Yeah, there's a lot that goes into
it.

276
00:09:43,630 --> 00:09:47,070
There's a lot of behind the scenes
that's kind of important to think

277
00:09:47,070 --> 00:09:49,070
about when you're getting started.

278
00:09:49,250 --> 00:09:50,870
I think getting a good team in

279
00:09:50,870 --> 00:09:51,830
place, that's really critical.

280
00:09:51,830 --> 00:09:52,730
This is my perspective.

281
00:09:52,730 --> 00:09:55,070
But when you start to work with a
client, you're setting that

282
00:09:55,070 --> 00:09:57,450
relationship up and it's not, you
know, just two weeks.

283
00:09:57,450 --> 00:09:58,350
That's a working relationship.

284
00:09:58,350 --> 00:10:00,750
And you want to make sure that

285
00:10:00,770 --> 00:10:02,990
everybody aligns when it comes to
expectations, as well as even, you

286
00:10:02,990 --> 00:10:06,290
know, kind of down to personality
and how you work together that

287
00:10:06,290 --> 00:10:06,390
way.

288
00:10:06,390 --> 00:10:06,610
Definitely.

289
00:10:06,610 --> 00:10:06,750
Yeah.

290
00:10:06,750 --> 00:10:08,930
And I will say like your

291
00:10:08,930 --> 00:10:10,850
communication has been awesome.

292
00:10:10,970 --> 00:10:11,450
You definitely like have.

293
00:10:11,450 --> 00:10:13,610
composure that's just nice like it
seems like you're in control and

294
00:10:13,870 --> 00:10:16,490
there's no stresses so it makes it
easier for the client but uh yeah

295
00:10:16,490 --> 00:10:20,050
i know i know shit hits the fan
once in a while and yeah yeah you

296
00:10:20,050 --> 00:10:23,070
handle it well so obviously that's
having your your team in place

297
00:10:23,070 --> 00:10:25,670
yeah next you were talking about
is set up like a realistic budget

298
00:10:25,670 --> 00:10:28,190
with a contingency so how does
pricing look obviously um like

299
00:10:28,190 --> 00:10:31,330
cost plus is part of the program
yeah so that's typically how we

300
00:10:31,330 --> 00:10:33,790
would run most of our projects
would be from a cost plus so

301
00:10:33,790 --> 00:10:36,250
that's typically how we would run
most of our projects would be from

302
00:10:36,450 --> 00:10:39,070
a cost plus model, I feel that
that's often kind of the best

303
00:10:39,070 --> 00:10:40,750
value for the client.

304
00:10:40,750 --> 00:10:42,390
You know, we could do a fixed

305
00:10:42,390 --> 00:10:46,190
price, but you know, in that, then
maybe things are padded to make

306
00:10:46,190 --> 00:10:48,750
sure that, you know, some of those
unexpected are after whether or

307
00:10:48,750 --> 00:10:52,300
not they, you know, end up showing
up.

308
00:10:52,300 --> 00:10:55,520
So I find that if you approach it
from a cost plus, then the client

309
00:10:55,520 --> 00:10:57,200
ends up getting what they want.

310
00:10:57,200 --> 00:10:59,940
They get the value for the time

311
00:10:59,940 --> 00:11:01,100
and energy that's been put into
the project.

312
00:11:01,100 --> 00:11:03,460
Oftentimes I hear, you know, if
somebody's on a fixed price, then

313
00:11:03,460 --> 00:11:04,700
some people can be.

314
00:11:04,700 --> 00:11:06,740
a little bit more quick to try to

315
00:11:06,740 --> 00:11:10,900
cut a corner or that sort of thing
to, you know, increase the profit

316
00:11:10,900 --> 00:11:14,940
margin, which that's not something
that we like to stand by.

317
00:11:14,940 --> 00:11:15,720
Yeah.

318
00:11:15,720 --> 00:11:17,060
We like to be transparent and make

319
00:11:17,060 --> 00:11:16,120
sure that, you know, the client is
getting the, like I said, best

320
00:11:16,120 --> 00:11:17,340
value for what they're paying for.

321
00:11:17,340 --> 00:11:17,460
Yeah.

322
00:11:17,460 --> 00:11:20,260
And I guess, I mean, we're talking
about like an overall approach,

323
00:11:20,260 --> 00:11:21,300
but like renovations compared to
new builds.

324
00:11:21,300 --> 00:11:23,700
Obviously, renovations got to be
pretty tough to quote because you

325
00:11:23,700 --> 00:11:26,620
don't know what you're going to
get when you open up the walls.

326
00:11:26,620 --> 00:11:29,620
Do you have a preference on like
what you like to work on?

327
00:11:29,620 --> 00:11:31,520
We do a little bit of both.

328
00:11:31,660 --> 00:11:33,260
do a little bit of both.

329
00:11:33,260 --> 00:11:35,120
I probably enjoy new construction
a little bit more.

330
00:11:35,120 --> 00:11:38,700
There are kind of less of those
kind of the unexpected.

331
00:11:38,700 --> 00:11:41,460
That being said, as soon as you
start into the excavation, there's

332
00:11:41,460 --> 00:11:44,280
100 things that you could run upon
that, you know.

333
00:11:44,280 --> 00:11:45,140
lead to other challenges
throughout the build.

334
00:11:45,140 --> 00:11:48,080
So pick your challenges and go
from there.

335
00:11:48,080 --> 00:11:50,420
But renovations are always fun,
especially if they're a little bit

336
00:11:50,420 --> 00:11:50,840
more tricky.

337
00:11:50,840 --> 00:11:51,920
I like a good problem to solve.

338
00:11:51,920 --> 00:11:55,140
If somebody's looking to renovate
their house or do a new build,

339
00:11:55,140 --> 00:11:57,040
should you be the first call they
make?

340
00:11:57,040 --> 00:11:59,100
Yeah, between an architect, a
designer and your contractor,

341
00:11:59,100 --> 00:12:00,700
those should be the first people.

342
00:12:00,700 --> 00:12:02,380
And it would be good to have them

343
00:12:02,800 --> 00:12:04,300
all work kind of in sync.

344
00:12:04,420 --> 00:12:05,840
There's a lot of things that

345
00:12:05,840 --> 00:12:11,080
everybody brings to the table and
it can help one, make a really

346
00:12:11,080 --> 00:12:13,120
good plan moving forward, but it
can also help with the planning

347
00:12:13,120 --> 00:12:13,460
stages in terms.

348
00:12:13,460 --> 00:12:14,800
of, you know, if your designer and

349
00:12:14,800 --> 00:12:16,380
your contractor are working
together, they can look at ways to

350
00:12:16,380 --> 00:12:17,260
make things more cost effective.

351
00:12:17,260 --> 00:12:17,260
There can be things that, you

352
00:12:17,260 --> 00:12:20,560
know, as a contractor, we'll look
at and go, you know, if we just

353
00:12:20,700 --> 00:12:24,240
tweak the design a little bit this
way, it's going to make, you know,

354
00:12:24,240 --> 00:12:25,580
our plumbing or electrical, you
know, that much easier.

355
00:12:25,580 --> 00:12:29,640
And so it can make for a better
overall product at the end and

356
00:12:29,640 --> 00:12:31,980
eliminate some of those, you know,
unexpected or, you know, more

357
00:12:31,980 --> 00:12:34,420
expensive details that could come
up in a project.

358
00:12:34,420 --> 00:12:37,120
I guess that kind of segues into
the next topic for you is

359
00:12:37,120 --> 00:12:37,540
investing quality.

360
00:12:37,540 --> 00:12:39,320
guess that kind of segues into the

361
00:12:39,320 --> 00:12:40,200
next topic for you is investing
quality.

362
00:12:40,200 --> 00:12:41,280
where it matters.

363
00:12:41,280 --> 00:12:42,580
So can you give us some examples

364
00:12:42,740 --> 00:12:44,820
of that?
Yeah, there's lots of different

365
00:12:44,820 --> 00:12:45,680
products out there.

366
00:12:45,680 --> 00:12:46,660
The most expensive isn't

367
00:12:46,660 --> 00:12:47,400
necessarily the best.

368
00:12:47,400 --> 00:12:48,380
Usually where I would start with

369
00:12:48,380 --> 00:12:52,260
that is the areas that are good to
really invest in are going to be,

370
00:12:52,260 --> 00:12:53,700
you know, your touch point areas.

371
00:12:53,700 --> 00:12:55,500
So, you know, if it's a new build,

372
00:12:55,500 --> 00:12:58,900
I would say, you know, those areas
where, you know, you walk into the

373
00:12:59,100 --> 00:13:01,860
home, kind of what are the
surfaces that you touch?

374
00:13:01,860 --> 00:13:04,300
So that could even be, you know,
stuff like your door handles, your

375
00:13:04,300 --> 00:13:06,440
front door, that's a, that's going
to be a big statement piece.

376
00:13:06,580 --> 00:13:08,180
You know, you walk into your
kitchen, that's, you know.

377
00:13:08,180 --> 00:13:09,760
the heart of the home, as
everybody says.

378
00:13:09,760 --> 00:13:11,500
So, you know, investing the money
in those places, the primary

379
00:13:11,500 --> 00:13:14,320
bathroom, bedroom wing, I think
that's another really good spot to

380
00:13:14,320 --> 00:13:15,440
kind of spend some money.

381
00:13:15,440 --> 00:13:17,320
And then just looking at really

382
00:13:17,320 --> 00:13:17,940
careful selections.

383
00:13:17,940 --> 00:13:19,700
I think bringing a designer into

384
00:13:19,880 --> 00:13:23,800
the picture can have a big impact
on that because a good design with

385
00:13:23,800 --> 00:13:26,360
good quality products can really
pull a project together and make

386
00:13:26,360 --> 00:13:27,240
or break it.

387
00:13:27,240 --> 00:13:24,760
And it comes down to client

388
00:13:24,760 --> 00:13:26,360
preference and what they value.

389
00:13:26,360 --> 00:13:28,760
I've had some clients where, you

390
00:13:28,760 --> 00:13:31,020
know, they really want the best,
you know, most expensive, some

391
00:13:31,780 --> 00:13:32,660
really beautiful items.

392
00:13:32,660 --> 00:13:34,140
But those can be challenging when

393
00:13:34,140 --> 00:13:37,060
it comes to, you know, thinking
about maintenance down the road.

394
00:13:37,060 --> 00:13:40,000
You know, what happens when, you
know, you've got a wall mounted

395
00:13:40,000 --> 00:13:41,660
faucet behind a very expensive
piece of, you know, quartz or

396
00:13:41,660 --> 00:13:44,220
something like that, that, you
know, eventually will need to be

397
00:13:44,240 --> 00:13:45,120
serviced and potentially replaced.

398
00:13:45,120 --> 00:13:46,760
So looking at kind of the long

399
00:13:46,760 --> 00:13:49,040
term value of that and some people
value, you know, maintenance free

400
00:13:49,040 --> 00:13:51,000
and ease of replacement and that
sort of thing.

401
00:13:51,000 --> 00:13:53,320
Whereas, you know, other people
value kind of the aesthetic and

402
00:13:53,320 --> 00:13:53,780
finish more.

403
00:13:53,780 --> 00:13:53,980
Yeah.

404
00:13:53,980 --> 00:13:56,180
The design part is, at least for
me, I feel so overlooked, but I

405
00:13:56,380 --> 00:14:00,530
thank God I have Emily that does a
lot of the decision making on

406
00:14:00,530 --> 00:14:00,630
that.

407
00:14:00,770 --> 00:14:02,290
Do you inherently just become like

408
00:14:02,410 --> 00:14:05,830
a bit of a mediator?
Also like a third opinion of like,

409
00:14:05,830 --> 00:14:07,450
do you like green or do you like
yellow?

410
00:14:07,450 --> 00:14:10,850
Like what should we use for paint?
And you're kind of stuck in

411
00:14:10,850 --> 00:14:11,210
between like.

412
00:14:11,210 --> 00:14:11,930
All the time.

413
00:14:11,930 --> 00:14:12,050
Yeah.

414
00:14:12,050 --> 00:14:13,410
Not in this house, but.

415
00:14:13,410 --> 00:14:18,550
No, no, no. No, no, no. You threw
it in the towel a long time ago.

416
00:14:18,550 --> 00:14:18,650
Yeah.

417
00:14:18,650 --> 00:14:20,080
I'm completely hands off.

418
00:14:20,080 --> 00:14:20,260
Yeah.

419
00:14:20,260 --> 00:14:20,680
I have to.

420
00:14:20,680 --> 00:14:22,640
Just not a battle I'm willing to
fight.

421
00:14:22,640 --> 00:14:23,740
Well, and my choices are.

422
00:14:23,900 --> 00:14:24,040
off.

423
00:14:24,040 --> 00:14:24,260
Yeah.

424
00:14:24,260 --> 00:14:25,780
and my choices are.

425
00:14:25,780 --> 00:14:25,820
Exactly.

426
00:14:25,880 --> 00:14:26,480
Also, Exactly.

427
00:14:26,700 --> 00:14:29,540
Also, we're all better off.

428
00:14:29,540 --> 00:14:29,980
Yeah.

429
00:14:29,980 --> 00:14:30,200
Totally.

430
00:14:30,200 --> 00:14:31,020
But I guess, yeah.

431
00:14:31,020 --> 00:14:33,760
Like, is there a certain point
where you just say like, you know,

432
00:14:34,020 --> 00:14:35,660
hey, you guys should get a
designer.

433
00:14:35,660 --> 00:14:37,360
Here's who we like to work with.

434
00:14:37,360 --> 00:14:38,160
Yeah, yeah, definitely.

435
00:14:38,160 --> 00:14:40,860
Like, and again, that's something
that I would usually chat with our

436
00:14:41,160 --> 00:14:42,640
clients right from the get go.

437
00:14:42,640 --> 00:14:45,000
That would be one of the first

438
00:14:45,000 --> 00:14:47,840
things that we would discuss is,
you know, is there room in the

439
00:14:47,840 --> 00:14:50,820
budget for a designer?
And one of the things that I'll

440
00:14:50,820 --> 00:14:54,420
say even with that is, you know, a
good designer can save you more

441
00:14:54,420 --> 00:14:58,450
than their fees throughout the
course of a project when it comes

442
00:14:58,510 --> 00:15:01,250
to whether it be, you know, delays
in material selections, that type

443
00:15:01,250 --> 00:15:01,790
of thing.

444
00:15:01,790 --> 00:15:03,110
So having all those details really

445
00:15:03,110 --> 00:15:05,850
well planned out ahead of time can
definitely help streamline that

446
00:15:05,850 --> 00:15:08,130
and save you in the long run.

447
00:15:08,130 --> 00:15:09,690
So that's something that at the

448
00:15:09,690 --> 00:15:12,230
beginning of a project, I usually
do discuss that with a client and

449
00:15:12,230 --> 00:15:13,610
go, is that something you're open
to?

450
00:15:13,610 --> 00:15:16,450
I mean, some projects, they just
don't have the budget.

451
00:15:16,450 --> 00:15:18,070
And, you know, if it's small
enough or, you know,

452
00:15:19,030 --> 00:15:20,270
straightforward enough, some
clients, you know, they know

453
00:15:20,270 --> 00:15:24,270
exactly what they want and there's
just no need for the selection

454
00:15:24,270 --> 00:15:24,390
portion.

455
00:15:24,570 --> 00:15:26,050
And when it comes down to, you

456
00:15:26,050 --> 00:15:27,150
know, your cabinetry and millwork
and stuff like that, that's

457
00:15:27,150 --> 00:15:29,890
something I think it's always good
to have a designer's image.

458
00:15:29,890 --> 00:15:30,630
put on.

459
00:15:31,650 --> 00:15:32,750
But yeah.

460
00:15:32,750 --> 00:15:35,590
Well, even just staying up with
trends and options, it's a pretty

461
00:15:35,590 --> 00:15:37,130
fast -paced industry when you look
at styles.

462
00:15:37,130 --> 00:15:38,390
It's hard to keep up.

463
00:15:38,570 --> 00:15:38,750
Yeah.

464
00:15:38,750 --> 00:15:38,830
Absolutely.

465
00:15:38,830 --> 00:15:39,670
Matt, so talking about materials

466
00:15:40,310 --> 00:15:43,470
and stuff, have you felt the
impact of tariffs at all yet on

467
00:15:43,470 --> 00:15:45,410
this?
Are people choosing stuff made in

468
00:15:45,410 --> 00:15:46,510
Italy more than something made in
Michigan?

469
00:15:46,510 --> 00:15:47,230
Haven't seen that too much.

470
00:15:47,230 --> 00:15:48,750
I do anticipate that that will be

471
00:15:49,130 --> 00:15:50,130
something that comes down quite
fairly soon.

472
00:15:50,130 --> 00:15:51,270
A lot of building products.

473
00:15:51,270 --> 00:15:51,790
are manufactured in the States.

474
00:15:51,790 --> 00:15:54,070
And so I do anticipate, you know,
some definite cost increases

475
00:15:54,070 --> 00:15:54,350
there.

476
00:15:54,350 --> 00:15:57,110
Are we just going to have all of a

477
00:15:57,110 --> 00:15:57,890
sudden European style all over
Canada?

478
00:15:57,890 --> 00:16:01,790
we just going to have all of a
sudden European style all over

479
00:16:01,790 --> 00:16:02,090
Canada?
Oh, cool.

480
00:16:02,090 --> 00:16:02,310
Yeah.

481
00:16:03,180 --> 00:16:03,880
Oh, cool.

482
00:16:03,880 --> 00:16:04,060
Yeah.

483
00:16:04,060 --> 00:16:05,020
You know what?

484
00:16:05,020 --> 00:16:06,020
You never know.

485
00:16:06,020 --> 00:16:08,100
But I was trying to price

486
00:16:08,100 --> 00:16:09,640
something out last week, aluminum
railing product.

487
00:16:09,640 --> 00:16:12,260
The supplier actually came back to
me and said, listen, we'd love to

488
00:16:12,260 --> 00:16:13,860
get your pricing on this, but we
don't know.

489
00:16:13,860 --> 00:16:16,920
So we'll be in touch in a week
from now when we have a little bit

490
00:16:16,920 --> 00:16:18,700
better idea of what's going on.

491
00:16:18,700 --> 00:16:18,720
Yeah.

492
00:16:18,780 --> 00:16:20,100
Yeah, that's going to be a tough
one.

493
00:16:20,220 --> 00:16:22,680
Obviously, we're very fresh into
this little game we're playing

494
00:16:22,680 --> 00:16:23,000
right now.

495
00:16:23,000 --> 00:16:23,220
Yeah.

496
00:16:23,220 --> 00:16:27,200
But I think we're going to see a
lot of weird things coming up that

497
00:16:27,200 --> 00:16:27,960
you don't really realize.

498
00:16:27,960 --> 00:16:29,360
Like things you just take for

499
00:16:29,360 --> 00:16:29,600
granted.

500
00:16:29,800 --> 00:16:30,220
Yeah.

501
00:16:30,220 --> 00:16:30,760
Oh, for sure.

502
00:16:30,760 --> 00:16:31,360
Oh, for sure.

503
00:16:31,360 --> 00:16:34,820
That are just going to all of a
sudden be obsolete.

504
00:16:34,840 --> 00:16:35,720
They're just going to pivot.

505
00:16:35,720 --> 00:16:36,900
going to pivot.

506
00:16:37,240 --> 00:16:38,760
Yeah.

507
00:16:38,760 --> 00:16:39,660
Challenges with getting products

508
00:16:39,660 --> 00:16:40,760
and the price, I think.

509
00:16:40,760 --> 00:16:42,220
Yeah.

510
00:16:42,600 --> 00:16:46,480
I mean, I have seen that a little
bit here and there on a few

511
00:16:46,580 --> 00:16:48,800
different products where it's like
what I could buy it for three

512
00:16:48,800 --> 00:16:51,700
months ago is drastically
different than it is today.

513
00:16:51,700 --> 00:16:56,080
It's funny because it's actually
more than 25 % because you think

514
00:16:56,200 --> 00:16:59,300
like the price was a price because
they could just throw it on truck

515
00:16:59,300 --> 00:17:00,980
B that was coming to Canada.

516
00:17:01,550 --> 00:17:02,990
funny because it's actually more

517
00:17:03,050 --> 00:17:06,630
than 25 % because you think like
the price was a price because they

518
00:17:06,630 --> 00:17:08,990
could just throw it on truck B
that was coming to Canada.

519
00:17:08,990 --> 00:17:06,990
But now those trucks aren't coming
to Canada.

520
00:17:06,990 --> 00:17:10,210
So now we get to pay for that
truck to ship that one thing and

521
00:17:10,410 --> 00:17:11,970
then pay the 25%.

522
00:17:11,970 --> 00:17:14,829
So it's like some products are

523
00:17:14,829 --> 00:17:17,030
going to be way more than 25 %
more.

524
00:17:17,170 --> 00:17:17,490
Right.

525
00:17:17,490 --> 00:17:20,930
So. I mean, I'm just thinking like

526
00:17:20,930 --> 00:17:22,569
on a smaller scale with homeowners
that are like just breaking ground

527
00:17:22,569 --> 00:17:23,310
and they have their budget.

528
00:17:23,310 --> 00:17:24,609
Let's say even half of the

529
00:17:24,609 --> 00:17:25,910
material goes up by 25%.

530
00:17:25,910 --> 00:17:26,730
That's going to blow their budget

531
00:17:26,730 --> 00:17:27,430
out of the water.

532
00:17:27,430 --> 00:17:30,230
And then if you've got a larger

533
00:17:30,230 --> 00:17:32,290
scale, like a developer that's,
you know, just pouring foundation

534
00:17:32,290 --> 00:17:35,490
on like a 50 unit place, even if
like, you know.

535
00:17:35,490 --> 00:17:36,190
10 % of those materials are
coming.

536
00:17:36,190 --> 00:17:38,990
How do you make it feasible?
Yeah, it's definitely a big

537
00:17:38,990 --> 00:17:42,150
concern that I've had looking out
at the future of our housing

538
00:17:42,150 --> 00:17:42,530
market and economy and stuff like
that in general.

539
00:17:42,530 --> 00:17:44,350
On a million dollar bill, 25 % is
a lot of money.

540
00:17:44,350 --> 00:17:47,910
Not everybody has that in their
budget to spend in addition to.

541
00:17:47,910 --> 00:17:50,750
I guess this is how things evolve
though, guess this is how things

542
00:17:50,750 --> 00:17:52,730
evolve though, right?
If you look at the positive side,

543
00:17:52,730 --> 00:17:54,930
it was like something like this
comes out, people are going to

544
00:17:54,930 --> 00:17:56,190
find a different material or
resource.

545
00:17:56,190 --> 00:17:57,970
Or just buy the steel straight
from Hamilton.

546
00:17:57,970 --> 00:18:00,270
You almost need these high
pressure situations that backs up

547
00:18:00,270 --> 00:18:02,090
against the wall and then you find
a better alternative solution.

548
00:18:02,090 --> 00:18:03,190
We even felt that in COVID.

549
00:18:03,190 --> 00:17:58,270
We started to have to look at

550
00:17:58,270 --> 00:18:00,270
alternative solutions, get
creative with the products we were

551
00:18:00,270 --> 00:18:01,430
using and that sort of thing.

552
00:18:01,430 --> 00:18:02,230
It was actually really interesting

553
00:18:02,230 --> 00:18:03,750
because sometimes there were
better quality products out there

554
00:18:03,890 --> 00:18:05,510
that became the more cost
effective options.

555
00:18:05,510 --> 00:18:07,130
And so you were ending up with a
better overall.

556
00:18:07,130 --> 00:18:09,650
build obviously we're still
spending more but at the end of

557
00:18:09,650 --> 00:18:12,230
the day the cost between your
traditional build versus you know

558
00:18:12,230 --> 00:18:14,070
going something a little bit
different and getting creative

559
00:18:14,250 --> 00:18:16,850
ended up being the better way to
go you know like obviously this is

560
00:18:16,850 --> 00:18:20,410
not where we thought this
conversation was going to go but

561
00:18:20,410 --> 00:18:23,150
just like never is but there seems
like amazing opportunities for

562
00:18:23,150 --> 00:18:26,610
some canadian manufacturers and
producers to like fill these gaps

563
00:18:26,610 --> 00:18:28,130
because like someone just breaking
ground like if you're doing 100

564
00:18:28,130 --> 00:18:31,390
units you need to buy what like
400 faucets right so like times

565
00:18:31,390 --> 00:18:35,600
that over this is not where we
thought this conversation was

566
00:18:35,600 --> 00:18:37,940
going to go but like never is but
like seems like amazing

567
00:18:37,940 --> 00:18:40,440
opportunities for some canadian
manufacturers and producers to

568
00:18:40,440 --> 00:18:42,840
like fill these gaps because like
someone just breaking ground like

569
00:18:42,840 --> 00:18:46,160
if you're doing 100 units you need
to buy what like 400 faucets right

570
00:18:46,160 --> 00:18:48,800
so like times that over everywhere
like man that's a huge uh yeah

571
00:18:48,800 --> 00:18:53,260
opportunity if you want to take
advantage of it all right put this

572
00:18:53,260 --> 00:18:54,160
on pause we're gonna go start a
manufacturing company you're in my

573
00:18:54,160 --> 00:18:56,480
mind yeah the next topic was think
about function and flow so again

574
00:18:56,480 --> 00:19:00,100
that probably comes back to like
the design you know working with

575
00:19:00,100 --> 00:19:04,300
an architect yeah working with the
architect and really kind of

576
00:19:04,300 --> 00:19:09,560
asking the questions like you know
how am i going to use the space on

577
00:19:09,560 --> 00:19:13,540
a daily basis so company company
you're in my mind yeah next topic

578
00:19:13,540 --> 00:19:16,140
was think about function and flow
so again that probably comes back

579
00:19:16,140 --> 00:19:19,880
to like the design you know
working with an architect working

580
00:19:19,880 --> 00:19:22,440
with the architect and really kind
of asking the questions like you

581
00:19:22,440 --> 00:19:28,380
know how am i going to use the
space on a daily basis But how is

582
00:19:28,380 --> 00:19:31,880
it going to be used, you know,
two, three years down the road?

583
00:19:31,880 --> 00:19:34,400
Are you a growing family?
Are there going to be more kids?

584
00:19:34,400 --> 00:19:37,120
Is there a need for a home office
at some point?

585
00:19:37,120 --> 00:19:39,040
Recently had a client we helped
with in addition.

586
00:19:39,040 --> 00:19:41,320
And that was one of the things
they were looking to use it for,

587
00:19:41,320 --> 00:19:41,980
you know, their home business.

588
00:19:41,980 --> 00:19:42,920
And they needed to create some

589
00:19:42,920 --> 00:19:44,460
extra space that way.

590
00:19:44,460 --> 00:19:49,920
And so that was kind of one of the

591
00:19:49,920 --> 00:19:54,220
things we discussed is, you know,
well, we can size things and set

592
00:19:54,220 --> 00:19:55,840
it up so that it's, you know,
very.

593
00:19:55,840 --> 00:19:58,880
you know, strictly business based,
or we can, you know, make

594
00:19:58,880 --> 00:19:41,740
allowances for certain things so
that down the road, it's, you

595
00:19:41,740 --> 00:19:44,180
know, an easy conversion to a
secondary suite, or, you know,

596
00:19:44,180 --> 00:19:50,800
it's just additional, you know,
it's a nice flow to, you know, two

597
00:19:50,800 --> 00:19:53,980
or three additional bedrooms and a
bathroom to your home.

598
00:19:53,980 --> 00:19:56,560
So it adds that square footage and
value for you down the road when,

599
00:19:56,560 --> 00:20:01,210
you know, should you decide to
sell or, you know, you're not,

600
00:20:01,210 --> 00:20:03,190
you're not using it in that way
anymore.

601
00:20:03,190 --> 00:20:04,930
So I think that's something that's
really important.

602
00:20:04,930 --> 00:20:07,550
And a lot of people do overlook
that is they're like, you know, we

603
00:20:07,550 --> 00:20:12,530
want to do this and this is what
it's for, but.

604
00:20:12,530 --> 00:20:16,130
thinking about that future use,
how are some of the ways that you

605
00:20:16,130 --> 00:20:20,430
might want to use it in the future
and what can you do to kind of

606
00:20:20,430 --> 00:20:23,670
make so that it's, you know,
workable for those items as well.

607
00:20:23,670 --> 00:20:24,610
And also looking at, you know,
potential resale.

608
00:20:24,610 --> 00:20:24,790
Yeah.

609
00:20:24,790 --> 00:20:09,870
Well, I was going to say that

610
00:20:09,870 --> 00:20:14,310
that's where you'd tag in somebody
like Matt or real estate agent to

611
00:20:14,310 --> 00:20:17,750
do a CMA and say like, Hey,
comparables in this area, if we

612
00:20:17,750 --> 00:20:21,190
added this extra bathroom, yeah,
it's going to cost X for the

613
00:20:21,190 --> 00:20:23,830
client, but they are looking at
moving in five years.

614
00:20:23,830 --> 00:20:24,370
Would that be a worthwhile
investment?

615
00:20:24,370 --> 00:20:26,390
That's something good to look at.

616
00:20:26,390 --> 00:20:26,930
Yeah, definitely.

617
00:20:26,930 --> 00:20:29,410
Then your last one for best things
to do would be plan for future

618
00:20:29,530 --> 00:20:29,830
maintenance and upgrades.

619
00:20:29,830 --> 00:20:31,050
I think that's a big one as well.

620
00:20:31,050 --> 00:20:32,130
You don't know.

621
00:20:32,130 --> 00:20:33,130
the cost of things until like

622
00:20:33,130 --> 00:20:34,750
things start to break down on you.

623
00:20:34,750 --> 00:20:35,930
Use an example of, you know, the

624
00:20:35,930 --> 00:20:37,170
type of decking that you use.

625
00:20:37,170 --> 00:20:38,550
You can go with better quality

626
00:20:38,550 --> 00:20:41,210
product that carries a warranty
that's, you know, less prone to

627
00:20:41,210 --> 00:20:43,490
break down from UV and weather and
stuff like that.

628
00:20:43,490 --> 00:20:45,830
Or you can, you know, spend a lot
less and just do, you know.

629
00:20:45,830 --> 00:20:46,990
Something with wood, that type of
thing.

630
00:20:46,990 --> 00:20:50,420
But as we live in the Okanagan and
it gets hotter and hotter every

631
00:20:50,420 --> 00:20:53,140
year, it seems wood does not hold
up very well.

632
00:20:53,140 --> 00:20:56,100
And so when you look at kind of
over the next 10 years, what's

633
00:20:56,100 --> 00:20:58,780
your maintenance cost on this
product versus spending a little

634
00:20:58,780 --> 00:21:00,600
bit more up front, but having
something that's going to weather

635
00:21:00,600 --> 00:21:02,160
a lot better and has those
warranties.

636
00:21:02,160 --> 00:21:04,520
Those are always good things to
kind of consider and look at and

637
00:21:04,520 --> 00:21:05,780
kind of weigh out.

638
00:21:05,780 --> 00:21:06,800
Yeah, I love it.

639
00:21:06,800 --> 00:21:08,180
I see that you have heated
driveways here.

640
00:21:08,260 --> 00:21:10,040
What can you do to prepare for
that?

641
00:21:10,040 --> 00:21:10,960
That's a great question.

642
00:21:10,960 --> 00:21:11,940
I'm like, whoa.

643
00:21:11,940 --> 00:21:12,100
Yeah.

644
00:21:12,100 --> 00:21:13,080
Getting sick of shoveling?

645
00:21:13,080 --> 00:21:14,040
No, I actually, I love shoveling.

646
00:21:14,040 --> 00:21:15,140
But we only had to shovel like

647
00:21:15,140 --> 00:21:15,900
once or twice this year.

648
00:21:15,900 --> 00:21:17,910
Yeah, I think I only shoveled once

649
00:21:17,910 --> 00:21:19,010
this year.

650
00:21:19,010 --> 00:21:20,670
I could have used at least...

651
00:21:20,670 --> 00:21:21,130
10 times that many.

652
00:21:21,130 --> 00:21:21,870
Yeah, no, for sure.

653
00:21:21,870 --> 00:21:23,510
With that one in particular, when
you're going through your rough in

654
00:21:23,510 --> 00:21:26,750
stage, it would be applicable to
both renovation and new

655
00:21:26,750 --> 00:21:29,250
construction, but kind of making
those allowances, you know, things

656
00:21:29,250 --> 00:21:31,730
you have to consider there is, is
there a power requirement for, you

657
00:21:31,730 --> 00:21:34,410
know, sensors and stuff like that?
How are you going to get that

658
00:21:34,410 --> 00:21:36,700
stuff back into the home once it's
completed?

659
00:21:36,700 --> 00:21:40,900
So having the room, you know, if
you need to put in a boiler,

660
00:21:40,900 --> 00:21:42,560
running water lines and stuff like
that.

661
00:21:42,720 --> 00:21:46,560
So if those are things as you're
kind of working through that

662
00:21:46,560 --> 00:21:48,240
design phase, we're like.

663
00:21:49,280 --> 00:21:50,840
You know, maybe it's not in the

664
00:21:50,980 --> 00:21:54,500
budget right now, but, you know,
down the road, we'd like to put in

665
00:21:54,500 --> 00:21:57,980
a gate or, you know, we'd like to,
you know, do a heated floor.

666
00:21:58,100 --> 00:22:02,620
We want to throw in a hot tub or a
pool in the backyard.

667
00:22:02,620 --> 00:22:05,720
Looking at, you know, the things
that you can do during

668
00:22:05,720 --> 00:22:07,860
construction to get things, you
know, close to those areas so that

669
00:22:07,860 --> 00:22:10,900
it's roughed in so that, you know,
down the road, you're not having

670
00:22:10,900 --> 00:22:13,860
to tear your house apart or dig
up, you know, your entire yard and

671
00:22:14,000 --> 00:22:15,760
driveway just to make allowances
and install those items that can

672
00:22:15,760 --> 00:22:17,590
save you immense.

673
00:22:17,590 --> 00:22:19,050
Yeah, it's kind of funny thinking

674
00:22:19,050 --> 00:22:20,070
about houses from like 30 years
ago.

675
00:22:20,070 --> 00:22:23,430
It seems like a long time ago, but
not a lot has evolved in the use

676
00:22:23,430 --> 00:22:24,350
of a home.

677
00:22:24,350 --> 00:22:26,110
But in terms of like when you look

678
00:22:26,110 --> 00:22:29,950
at renovating a 30 -year -old
home, why did they ever do this?

679
00:22:29,950 --> 00:22:31,090
Like why would a kitchen be
enclosed?

680
00:22:31,090 --> 00:22:32,650
Like it seems like the trends
change.

681
00:22:32,650 --> 00:22:35,890
So I'm curious now, you know, in
like 30 years, we're going to look

682
00:22:35,890 --> 00:22:37,790
back on this house and be like,
why is this kitchen open?

683
00:22:37,790 --> 00:22:38,790
Oh my God.

684
00:22:39,450 --> 00:22:39,930
Close the door.

685
00:22:40,030 --> 00:22:40,530
kitchen open?
Oh my God.

686
00:22:40,530 --> 00:22:41,350
Close the door.

687
00:22:41,350 --> 00:22:41,890
He wants to see this.

688
00:22:41,890 --> 00:22:42,250
Yeah, exactly.

689
00:22:42,250 --> 00:22:44,920
Let's get into the juicy part.

690
00:22:46,420 --> 00:22:51,240
So five worst things you can do
with a renovation or build.

691
00:22:51,280 --> 00:22:53,760
First one you have listed,
underestimating costs and

692
00:22:53,760 --> 00:22:53,840
timelines.

693
00:22:53,840 --> 00:22:54,180
I mean.

694
00:22:54,180 --> 00:22:55,740
Isn't this just a given?
Like, doesn't everyone

695
00:22:55,740 --> 00:22:55,860
underestimate?
Yeah.

696
00:22:55,860 --> 00:22:55,980
Okay.

697
00:22:55,980 --> 00:22:56,140
Underestimate.

698
00:22:56,140 --> 00:22:59,060
So you've got to think you can do
a kitchen for 5 ,000.

699
00:22:59,060 --> 00:23:00,280
Bathroom for 2 ,000.

700
00:23:00,360 --> 00:23:00,640
Yeah, exactly.

701
00:23:00,820 --> 00:23:02,820
Heat and dry away for what?
4 ,500?

702
00:23:02,820 --> 00:23:02,940
Yeah.

703
00:23:02,940 --> 00:23:03,240
Yeah, exactly.

704
00:23:03,240 --> 00:23:04,000
And an afternoon.

705
00:23:04,220 --> 00:23:04,520
And an afternoon.

706
00:23:04,520 --> 00:23:04,800
Yeah.

707
00:23:04,800 --> 00:23:07,480
So like, that's got to be a tough

708
00:23:07,480 --> 00:23:08,560
conversation to have.

709
00:23:08,560 --> 00:23:09,560
It can be.

710
00:23:09,840 --> 00:23:11,660
There's often a lot of sticker
shock because there's a lot of

711
00:23:11,660 --> 00:23:13,920
items that, you know, go into
doing, you know.

712
00:23:13,920 --> 00:23:16,440
a renovation or a new build that a
lot of people you know they're

713
00:23:16,440 --> 00:23:19,860
just not aware of let's say you're
doing a renovation and you start

714
00:23:19,860 --> 00:23:22,440
you know tearing out walls and
stuff like that you know maybe you

715
00:23:22,560 --> 00:23:25,460
end up having to remove drywall on
the ceiling to you know rework

716
00:23:25,460 --> 00:23:26,140
your electrical.

717
00:23:26,240 --> 00:23:27,590
Now you're starting to trigger

718
00:23:27,590 --> 00:23:27,970
some code requirements.

719
00:23:27,970 --> 00:23:29,270
And that's just one kind of small

720
00:23:29,350 --> 00:23:30,770
example where when you start to
touch stuff, pull it apart.

721
00:23:30,770 --> 00:23:33,110
Well, now you have to actually
bring it up to today's code.

722
00:23:33,110 --> 00:23:34,990
And there can be a lot that goes
into kind of making those upgrades

723
00:23:34,990 --> 00:23:38,630
just to get you back to, you know,
let's say drywall stage where you

724
00:23:38,630 --> 00:23:41,130
can actually put your kitchen back
together.

725
00:23:41,310 --> 00:23:42,410
So lots of items like that.

726
00:23:42,410 --> 00:23:43,950
What do you kind of see difference

727
00:23:44,090 --> 00:23:45,210
in renovation costs and new build
costs?

728
00:23:45,210 --> 00:23:47,270
If somebody is looking to pretty
much, you know, got a house, rip

729
00:23:47,270 --> 00:23:50,790
down the drywall to the studs, is
it going to be effectively the

730
00:23:50,790 --> 00:23:53,460
same cost just because the labor
to get the demo done?

731
00:23:53,460 --> 00:23:55,700
It depends on the bones of the
house.

732
00:23:56,020 --> 00:23:57,860
I would say that there's some
houses out there that.

733
00:23:57,860 --> 00:24:01,650
You're better off to just bulldoze
it by the time you bring

734
00:24:01,650 --> 00:24:04,090
everything up to today's code and,
you know, bring it back to what

735
00:24:04,090 --> 00:24:04,390
you want.

736
00:24:04,450 --> 00:24:05,650
The total dollar figure will

737
00:24:05,650 --> 00:24:06,970
definitely be less than, you know,
building new.

738
00:24:06,970 --> 00:24:10,910
But if you look at the value add
to your property over time, you

739
00:24:10,910 --> 00:24:11,950
can look at it's a brand new
house.

740
00:24:11,950 --> 00:24:12,470
It's got the warranty.

741
00:24:12,470 --> 00:24:13,450
It's got, you know, new finishes.

742
00:24:13,450 --> 00:24:14,170
You're not going to be looking at
needing a new roof anytime soon.

743
00:24:14,310 --> 00:24:15,530
That sort of thing.

744
00:24:15,530 --> 00:24:17,750
Yeah, that's a really good point.

745
00:24:17,750 --> 00:24:21,730
I mean, even just on the resale
side, like if you're listing a

746
00:24:21,730 --> 00:24:22,130
house that's.

747
00:24:22,130 --> 00:24:23,690
brand new compared to like a 1970s

748
00:24:24,190 --> 00:24:26,370
house that has had like a great
facelift.

749
00:24:26,370 --> 00:24:30,160
It's still on title, a 1970s house
with some like, you know,

750
00:24:30,160 --> 00:24:33,880
components that are not fully
updated.

751
00:24:34,040 --> 00:24:34,040
Yeah.

752
00:24:34,040 --> 00:24:34,760
The struggle that I often see is

753
00:24:34,760 --> 00:24:36,740
people, they want to do the
renovation.

754
00:24:36,740 --> 00:24:41,500
They find a really great location
and, you know, they're willing to

755
00:24:41,600 --> 00:24:44,020
spend the money on doing the
renovation.

756
00:24:44,020 --> 00:24:46,660
But the thing that they run into
is the older homes aren't designed

757
00:24:46,660 --> 00:24:48,680
in such a way that makes it.

758
00:24:48,680 --> 00:24:49,880
you know, cost effective to do the

759
00:24:49,880 --> 00:24:51,300
types of modifications that they
want.

760
00:24:51,300 --> 00:24:55,340
You know, if you've got, you know,
a very rectangular, you know,

761
00:24:55,340 --> 00:24:57,920
1970s build trying to go in and,
you know, vault ceilings or, you

762
00:24:57,920 --> 00:24:59,440
know, anything like that, it's, it
can be.

763
00:24:59,440 --> 00:25:01,000
I don't ever want to do that.

764
00:25:01,000 --> 00:25:01,980
What are you talking about?

765
00:25:01,980 --> 00:25:03,160
This isn't a 1970s house, by the
way.

766
00:25:03,160 --> 00:25:04,480
about?
This isn't a 1970s house, by the

767
00:25:04,480 --> 00:25:04,580
way.

768
00:25:04,580 --> 00:25:07,080
You told me it was a good idea.

769
00:25:07,520 --> 00:25:09,220
I think it's a great idea.

770
00:25:09,220 --> 00:25:11,440
And I think there's a lot of value

771
00:25:11,440 --> 00:25:13,760
added, but, you know, things like
that, a lot of people have

772
00:25:13,760 --> 00:25:15,560
expectations for, you know, a
renovation that, you know, in some

773
00:25:15,560 --> 00:25:17,520
cases just aren't achievable.

774
00:25:17,520 --> 00:25:17,900
Yeah.

775
00:25:17,900 --> 00:25:21,200
I just want to go back to this
cost, like who you call first.

776
00:25:21,200 --> 00:25:23,800
So you call you first and then you
talk to a designer, you get plans

777
00:25:23,800 --> 00:25:23,980
drawn.

778
00:25:23,980 --> 00:25:24,260
an architect?

779
00:25:24,260 --> 00:25:24,520
Yeah.

780
00:25:24,520 --> 00:25:27,550
So there's lots of different ways

781
00:25:27,550 --> 00:25:28,850
to do it.

782
00:25:28,850 --> 00:25:30,530
The way that we try to approach

783
00:25:30,530 --> 00:25:34,690
things with our client is we try
to kind of be that call it one

784
00:25:34,690 --> 00:25:35,010
-stop shop.

785
00:25:35,010 --> 00:25:36,890
So you get in touch with us, then

786
00:25:36,890 --> 00:25:37,610
we'll coordinate.

787
00:25:37,610 --> 00:25:39,430
So I like to sit down and, you

788
00:25:39,430 --> 00:25:43,750
know, have a really in -depth
conversation with a client and go,

789
00:25:43,750 --> 00:25:45,750
okay, you know, what is the vision
for this project?

790
00:25:45,750 --> 00:25:47,370
What is it that you're looking to
achieve?

791
00:25:47,680 --> 00:25:49,140
How can we help bring that
together?

792
00:25:49,140 --> 00:25:53,100
And then from there engaging, you
know, we work with a number of

793
00:25:53,100 --> 00:25:53,600
different architects.

794
00:25:53,820 --> 00:25:54,400
Everybody's got, you know,

795
00:25:54,400 --> 00:25:56,460
different styles, you know,
usually try to work with somebody

796
00:25:56,460 --> 00:25:59,740
that's going to be able to kind of
of bring the client's vision to

797
00:25:59,740 --> 00:26:02,760
life that way um oftentimes it'll
end up being us engaging with the

798
00:26:02,760 --> 00:26:05,020
client and then sitting down and
having those conversations

799
00:26:05,220 --> 00:26:07,840
together because knowing from the
get -go you know how the client

800
00:26:07,840 --> 00:26:11,240
wants to use the space some of the
things that they want to you know

801
00:26:11,240 --> 00:26:13,020
accomplish with it can kind of
streamline that then you know i

802
00:26:13,020 --> 00:26:15,600
can have some conversations with
with the architect about you know

803
00:26:15,600 --> 00:26:19,680
Whether it be structural details
or, you know, moving walls, that

804
00:26:19,680 --> 00:26:24,080
sort of thing, what's feasible on
the mechanical side of it, you

805
00:26:24,080 --> 00:26:27,180
know, what sort of allowances do
we need to make?

806
00:26:27,180 --> 00:26:31,300
And that can really help kind of
bring, you know, what's possible

807
00:26:31,300 --> 00:26:32,800
with the home kind of back to the
client.

808
00:26:32,800 --> 00:26:35,380
Then from there, we can really put
together a good game plan.

809
00:26:35,380 --> 00:26:37,980
So like somebody calls you and
says, like somebody calls you and

810
00:26:37,980 --> 00:26:43,870
says, I have $100 ,000 and I want
to renovate X, Y, and Z. Talk to

811
00:26:43,870 --> 00:26:48,030
you, talk to the planner, get a
plan, come back and then you say,

812
00:26:48,030 --> 00:26:49,790
okay, this is going to cost like
$140 ,000.

813
00:26:49,790 --> 00:26:54,410
to do this work with you to cut
out 40 ,000 of that?

814
00:26:55,050 --> 00:26:56,790
Like, how does this process work
to get?

815
00:26:56,790 --> 00:26:58,530
It seems like a very specific
question.

816
00:26:58,530 --> 00:26:58,930
seems like a very specific
question.

817
00:26:58,930 --> 00:27:00,490
Okay, Matt is the client.

818
00:27:00,490 --> 00:27:01,590
It's from experience.

819
00:27:01,590 --> 00:27:03,050
So I ran into this.

820
00:27:03,050 --> 00:27:01,690
Yeah, I've just never fully

821
00:27:01,690 --> 00:27:03,190
understood that part of it.

822
00:27:04,150 --> 00:27:05,110
That's a tough question to answer.

823
00:27:05,110 --> 00:27:06,530
So I want 140 ,000 worth of a
renovation.

824
00:27:06,630 --> 00:27:07,630
I want 140 ,000 worth of a
renovation.

825
00:27:07,630 --> 00:27:07,890
Yeah.

826
00:27:07,890 --> 00:27:10,210
But I don't want you don't know,

827
00:27:10,330 --> 00:27:15,080
you don't know, like the average
person has no idea what $100 ,000

828
00:27:15,240 --> 00:27:15,440
renovation is.

829
00:27:15,560 --> 00:27:15,660
Yeah.

830
00:27:15,660 --> 00:27:19,020
Like, is that a kitchen?
Like, honestly, in my experience,

831
00:27:19,020 --> 00:27:21,440
that's a kitchen, right?
Or is that a bedroom wing?

832
00:27:21,440 --> 00:27:23,980
So usually I would kind of start
off with like a really high level

833
00:27:23,980 --> 00:27:24,640
budget for them.

834
00:27:24,640 --> 00:27:27,880
So we have a look at the space,

835
00:27:27,880 --> 00:27:29,240
kind of chat about what they want
to do.

836
00:27:29,240 --> 00:27:31,360
I would put together something,
you know, really high level and

837
00:27:31,360 --> 00:27:34,200
say, you know what, if we want to
move forward with this, then, you

838
00:27:34,200 --> 00:27:35,560
know, let's actually do some
deeper investigation.

839
00:27:35,720 --> 00:27:38,060
Let's have a look into, you know.

840
00:27:38,060 --> 00:27:38,980
What's your electrical capacity in

841
00:27:39,000 --> 00:27:40,560
your home?
If we're adding, you know, another

842
00:27:40,560 --> 00:27:42,720
bathroom and, you know, a bunch of
extra lighting and that sort of

843
00:27:42,720 --> 00:27:45,240
thing, is that going to trigger
the need for, you know, a service

844
00:27:45,240 --> 00:27:47,040
upgrade?
Is there stuff with your, you

845
00:27:47,040 --> 00:27:48,740
know, septic?
Again, you know, adding bathrooms

846
00:27:48,800 --> 00:27:49,340
is a big one.

847
00:27:49,340 --> 00:27:51,380
Starting to add a whole bunch of

848
00:27:51,380 --> 00:27:51,400
fixtures.

849
00:27:51,460 --> 00:27:52,740
Do you have an outdated septic

850
00:27:52,740 --> 00:27:54,920
system that really, you know,
should be updated to connect it to

851
00:27:54,920 --> 00:27:56,160
city sewer?
it to city sewer?

852
00:27:56,160 --> 00:27:57,560
Even like the water main.

853
00:27:57,560 --> 00:28:00,440
So we had to update the water main

854
00:28:00,440 --> 00:28:00,840
here.

855
00:28:00,840 --> 00:28:01,000
Yeah.

856
00:28:01,000 --> 00:28:02,460
Just because we were adding a
bathroom.

857
00:28:02,460 --> 00:28:03,300
I was like.

858
00:28:03,300 --> 00:28:04,960
you kidding me you're not gonna

859
00:28:04,960 --> 00:28:07,620
use any more water yeah you know
but yeah you're right like i i did

860
00:28:07,620 --> 00:28:08,100
not anticipate that.

861
00:28:08,100 --> 00:28:08,360
Yeah.

862
00:28:08,360 --> 00:28:08,860
That's interesting.

863
00:28:08,860 --> 00:28:08,920
Yeah.

864
00:28:08,920 --> 00:28:12,560
I mean, we do our best to kind of
cover all those bases.

865
00:28:12,560 --> 00:28:14,940
So our process would be engage
with the client.

866
00:28:14,940 --> 00:28:16,490
Let's have a conversation.

867
00:28:16,490 --> 00:28:18,030
Let's understand, you know, put

868
00:28:18,030 --> 00:28:19,670
together a really high level
budget.

869
00:28:19,670 --> 00:28:23,070
Then at a very high level, we can
kind of discuss, you know, this is

870
00:28:23,070 --> 00:28:26,390
way more than we thought it was
going to be, you know, where can

871
00:28:26,390 --> 00:28:29,190
we scale back?
And then we start having those

872
00:28:29,190 --> 00:28:31,210
conversations about, well, you
know, a lot of it's going to

873
00:28:31,210 --> 00:28:31,890
depend on the fixtures.

874
00:28:31,890 --> 00:28:33,110
You know, these are, you know,

875
00:28:33,290 --> 00:28:34,270
some of the things from, you know,
a code requirement and municipal

876
00:28:34,270 --> 00:28:34,630
requirements that.

877
00:28:34,830 --> 00:28:36,930
are going to need to be done.

878
00:28:36,930 --> 00:28:40,390
So those are, you know, things we
can budge on working from there,

879
00:28:40,390 --> 00:28:42,610
whether it be reducing, you know,
cost of finishes, reducing the

880
00:28:42,710 --> 00:28:44,940
square footage in the areas that
we're working with and trying to

881
00:28:44,940 --> 00:28:46,360
kind of get into that ballpark.

882
00:28:46,360 --> 00:28:46,580
Yeah.

883
00:28:46,580 --> 00:28:49,600
I'm just kind of laughing in my
head because you guys ever watched

884
00:28:49,820 --> 00:28:50,800
Love It or List It?
Yeah.

885
00:28:50,800 --> 00:28:51,240
Yeah.

886
00:28:51,240 --> 00:28:51,840
This seems like a Love It or List

887
00:28:51,940 --> 00:28:52,440
It thing.

888
00:28:52,440 --> 00:28:54,580
Like, you know.

889
00:28:54,580 --> 00:28:57,620
Jeff wants to stay and he wants to
renovate these three sections of

890
00:28:57,620 --> 00:28:59,780
the house, but they're over
budget.

891
00:28:59,880 --> 00:29:00,920
So he's got to cut one.

892
00:29:03,940 --> 00:29:06,780
And which one is it going to be?

893
00:29:06,780 --> 00:29:07,580
I mean, I guess, yeah, it just
comes down to that.

894
00:29:07,980 --> 00:29:09,400
It is super expensive, but like
everything is.

895
00:29:08,800 --> 00:29:08,980
Yeah.

896
00:29:08,980 --> 00:29:10,720
This is a good segue into your

897
00:29:10,720 --> 00:29:12,840
next point is changing the scope
midway through.

898
00:29:13,060 --> 00:29:15,980
How does that happen?
Often that can come from kind of a

899
00:29:16,080 --> 00:29:17,440
lack of a good plan.

900
00:29:17,440 --> 00:29:19,280
It could be anything from, you

901
00:29:19,280 --> 00:29:20,280
know, we get started into
something.

902
00:29:20,280 --> 00:29:21,100
We've put a plan together.

903
00:29:21,100 --> 00:29:22,740
You know, we hope this never

904
00:29:22,920 --> 00:29:24,360
happens, but, you know, maybe
there was a different expectation

905
00:29:24,360 --> 00:29:24,760
between, you know.

906
00:29:24,760 --> 00:29:25,660
what the client thought the space

907
00:29:25,660 --> 00:29:27,920
was going to look like if we made
the certain changes.

908
00:29:27,920 --> 00:29:29,480
Or, you know, it could be, you
know, maybe it is budgetary

909
00:29:29,480 --> 00:29:29,780
restraints.

910
00:29:29,980 --> 00:29:32,360
You know, let's say we did run

911
00:29:32,360 --> 00:29:34,920
across something that can be
challenging because you need to

912
00:29:35,530 --> 00:29:38,930
stop, kind of take a step back and
go, okay, well, what are the

913
00:29:38,930 --> 00:29:40,390
things that are going to be
impacted here?

914
00:29:40,390 --> 00:29:43,250
What needs to be kind of reworked,
taken apart, that sort of thing so

915
00:29:43,250 --> 00:29:45,490
that we can, you know, start to
move forward.

916
00:29:45,490 --> 00:29:48,490
That can have huge budgetary
repercussions and it can also

917
00:29:48,490 --> 00:29:50,490
impact your schedule in a big way.

918
00:29:50,670 --> 00:29:51,510
Yeah, I imagine time would be the

919
00:29:51,510 --> 00:29:52,830
biggest one, right?
Yeah, for sure.

920
00:29:52,830 --> 00:29:53,910
right?
Yeah, for sure.

921
00:29:53,910 --> 00:29:56,490
And then skimping on structural
elements was number three.

922
00:29:56,490 --> 00:29:57,530
Yeah, that's not something that we
would ever do.

923
00:29:57,530 --> 00:29:58,470
we would ever do.

924
00:29:58,470 --> 00:29:59,510
Well, that's just going to throw

925
00:29:59,510 --> 00:30:01,530
everything off, right?
Then like walls aren't squared.

926
00:30:01,530 --> 00:30:01,750
Yeah.

927
00:30:01,750 --> 00:30:01,930
Drywall's popping.

928
00:30:01,930 --> 00:30:03,230
Yeah, things just don't fit
properly.

929
00:30:03,230 --> 00:30:04,540
No, for sure.

930
00:30:04,540 --> 00:30:06,120
And yeah, we're not saying you do

931
00:30:06,120 --> 00:30:07,340
any of these.

932
00:30:07,340 --> 00:30:08,460
These were just wood clients.

933
00:30:08,460 --> 00:30:12,050
So the next one, which is
obviously a no -no, ignoring

934
00:30:12,270 --> 00:30:12,930
permits and inspections.

935
00:30:12,990 --> 00:30:13,230
Yeah.

936
00:30:13,230 --> 00:30:16,490
I would assume like a lot of
people that want to do like a

937
00:30:16,490 --> 00:30:17,450
small renovation would...

938
00:30:17,450 --> 00:30:18,990
Never think of a permit, right?

939
00:30:18,990 --> 00:30:20,870
It is shocking, Yeah.

940
00:30:20,870 --> 00:30:21,310
is shocking, actually.

941
00:30:21,310 --> 00:30:22,310
Some people just aren't aware.

942
00:30:22,450 --> 00:30:23,290
There's other people out there.

943
00:30:23,290 --> 00:30:25,850
It's a small project where, you
know, who's going to know sort of

944
00:30:25,850 --> 00:30:25,990
thing.

945
00:30:25,990 --> 00:30:26,710
And so those conversations can be

946
00:30:26,710 --> 00:30:28,550
kind of difficult because, you
know, oftentimes it comes down to

947
00:30:28,550 --> 00:30:30,130
kind of educating a client.

948
00:30:30,130 --> 00:30:31,710
You know, you can do it without a

949
00:30:31,710 --> 00:30:31,790
permit.

950
00:30:31,790 --> 00:30:32,770
That's not something we're going

951
00:30:32,850 --> 00:30:34,390
to be able to work with you on.

952
00:30:34,390 --> 00:30:36,290
But if you do choose to move

953
00:30:36,290 --> 00:30:39,570
forward in that direction, you
know, there are some potential

954
00:30:39,570 --> 00:30:42,210
risks that you're taking kind of
in the long term, whether it be

955
00:30:42,210 --> 00:30:45,770
somebody that's willing to, you
know, move forward with that.

956
00:30:45,770 --> 00:30:47,550
Are you getting, you know, really
good workmanship?

957
00:30:47,550 --> 00:30:50,910
And if not, then, you know, if you
do have an issue down the road,

958
00:30:50,910 --> 00:30:54,070
are you going to run into, you
know, trouble with insurance?

959
00:30:54,070 --> 00:30:56,610
Yeah, this is a super interesting
one because do you see it very

960
00:30:56,830 --> 00:30:59,410
often, Matt, where like you're
selling a home and there's a flag

961
00:30:59,410 --> 00:31:02,480
saying the renovation wasn't done
to code or permitted or anything?

962
00:31:02,480 --> 00:31:04,240
In the city file, no, not
generally.

963
00:31:04,240 --> 00:31:07,420
I went to finance one for a client
about a month ago, and it was on

964
00:31:07,420 --> 00:31:08,100
title that there's like a bylaw
infraction.

965
00:31:08,500 --> 00:31:11,060
So I looked into it and said, you
know, ask the agent, hey, what's

966
00:31:11,060 --> 00:31:13,800
the bylaw infraction?
Oh, they did some work that wasn't

967
00:31:13,800 --> 00:31:13,880
permitted.

968
00:31:13,880 --> 00:31:15,100
And they had like a stop recorder

969
00:31:15,100 --> 00:31:16,940
or something?
Yeah, so the neighbor complained.

970
00:31:16,940 --> 00:31:20,000
Obviously, you've got to have good
relationships with your neighbor.

971
00:31:20,000 --> 00:31:23,100
I don't know to the extent of the
work that was being done, but we

972
00:31:23,140 --> 00:31:25,820
cannot finance that property until
they finish it and bring it up to

973
00:31:25,920 --> 00:31:25,980
code.

974
00:31:25,980 --> 00:31:27,320
But now they have a bylaw

975
00:31:27,320 --> 00:31:30,280
infraction stating that work's
been complete, so you've got to

976
00:31:30,280 --> 00:31:32,400
start all over again, generally.

977
00:31:32,400 --> 00:31:33,660
so you've got to start all over

978
00:31:33,660 --> 00:31:34,400
again, which is so costly.

979
00:31:34,400 --> 00:31:36,800
I think it depends on the

980
00:31:36,800 --> 00:31:37,180
situation.

981
00:31:37,360 --> 00:31:39,340
I see a lot of houses that

982
00:31:39,360 --> 00:31:39,760
obviously were not.

983
00:31:39,760 --> 00:31:40,280
Yeah, like it's changed.

984
00:31:40,280 --> 00:31:43,320
Well, and like it also just looks
like shit.

985
00:31:43,320 --> 00:31:44,620
So like it's obvious that there
was no permit.

986
00:31:44,620 --> 00:31:44,860
Yeah.

987
00:31:44,860 --> 00:31:46,120
There's a lot of stuff that I've

988
00:31:46,120 --> 00:31:46,320
seen.

989
00:31:46,320 --> 00:31:47,580
Like you look at the city file or

990
00:31:47,580 --> 00:31:50,620
pull all the papers on it or pull
in technical safety BC and there's

991
00:31:50,620 --> 00:31:50,900
no word.

992
00:31:50,900 --> 00:31:52,400
So obviously it was not a permit

993
00:31:52,720 --> 00:31:53,040
either.

994
00:31:53,040 --> 00:31:55,140
So where's the liability fall?

995
00:31:55,140 --> 00:31:57,120
where's the liability fall?
Like if your client's going to buy

996
00:31:57,120 --> 00:31:57,320
something.

997
00:31:57,840 --> 00:31:59,580
Well, on the PDS, on the property

998
00:31:59,580 --> 00:32:01,100
disclosure statement, you have to
say, are you aware of anything

999
00:32:01,400 --> 00:32:02,640
done without a permit?
Yeah.

1000
00:32:02,640 --> 00:32:06,040
Right?
So a lot of times, yes, we did X,

1001
00:32:06,040 --> 00:32:06,480
Y, and Z without a permit.

1002
00:32:06,480 --> 00:32:07,780
So then the buyer just has to know

1003
00:32:07,780 --> 00:32:07,960
that.

1004
00:32:07,960 --> 00:32:09,780
But then that might come an issue

1005
00:32:09,780 --> 00:32:12,780
with your lender at that point.

1006
00:32:12,780 --> 00:32:14,480
Yeah, that has definitely come up.

1007
00:32:14,480 --> 00:32:15,220
Yeah, and insurance.

1008
00:32:15,380 --> 00:32:15,580
Or insurance.

1009
00:32:15,580 --> 00:32:16,180
Yeah, insurance.

1010
00:32:16,180 --> 00:32:16,580
Yes, yes.

1011
00:32:16,580 --> 00:32:19,820
But I guess so if you buy that
property and something comes up

1012
00:32:19,820 --> 00:32:22,920
later on down like two months from
now, and insurance.

1013
00:32:23,280 --> 00:32:25,600
I guess so if you buy that
property and something comes up

1014
00:32:25,600 --> 00:32:28,670
later on down like two months from
now, it's like, wow.

1015
00:32:28,670 --> 00:32:30,350
We accepted the PDS, so you're on
the floor.

1016
00:32:30,350 --> 00:32:30,710
floor.

1017
00:32:30,810 --> 00:32:32,290
Well, think about something like a

1018
00:32:32,470 --> 00:32:33,090
non -legal suite.

1019
00:32:33,090 --> 00:32:34,110
Those are basically all, by

1020
00:32:34,110 --> 00:32:35,210
definition, not permanent.

1021
00:32:35,210 --> 00:32:35,310
Yeah.

1022
00:32:35,690 --> 00:32:36,310
You're still buying houses.

1023
00:32:36,310 --> 00:32:37,690
You're still financing them based

1024
00:32:37,690 --> 00:32:38,770
on the rental.

1025
00:32:38,770 --> 00:32:38,910
Yeah.

1026
00:32:38,910 --> 00:32:42,310
So I think it's just a case -by
-case basement or a case -by -case

1027
00:32:42,310 --> 00:32:42,490
situation.

1028
00:32:42,490 --> 00:32:43,590
Or basement, basement, you're

1029
00:32:43,590 --> 00:32:43,790
right.

1030
00:32:43,790 --> 00:32:43,970
Yeah.

1031
00:32:43,970 --> 00:32:46,030
Yeah, I think there's a lot more
to it than that.

1032
00:32:46,030 --> 00:32:48,360
But yeah, like a mobile home, we
basically have to have a

1033
00:32:48,360 --> 00:32:50,160
electrical inspection to even sell
one, to even list one.

1034
00:32:50,340 --> 00:32:50,760
Yeah.

1035
00:32:50,760 --> 00:32:51,100
Oh, really?

1036
00:32:51,100 --> 00:32:51,420
Yeah.

1037
00:32:51,420 --> 00:32:52,980
I would not be surprised to see

1038
00:32:52,980 --> 00:32:54,940
that come in to regular houses
too, but - Yeah.

1039
00:32:54,940 --> 00:32:56,900
Easiest way to get sued is a real
estate agent.

1040
00:32:56,900 --> 00:32:58,180
They list a mobile home.

1041
00:32:58,180 --> 00:32:58,600
Yeah.

1042
00:32:58,820 --> 00:32:58,940
Yeah.

1043
00:32:58,940 --> 00:33:00,320
As a real estate agent, yes.

1044
00:33:00,320 --> 00:33:00,400
Yeah.

1045
00:33:00,400 --> 00:33:01,160
There's a lot to them.

1046
00:33:01,160 --> 00:33:01,280
Yeah.

1047
00:33:01,280 --> 00:33:02,820
So yeah, but we do see this all

1048
00:33:02,820 --> 00:33:03,100
the time.

1049
00:33:03,100 --> 00:33:03,280
Yeah.

1050
00:33:03,280 --> 00:33:04,240
the time.

1051
00:33:04,380 --> 00:33:04,560
Yeah.

1052
00:33:04,560 --> 00:33:04,720
Yeah.

1053
00:33:04,720 --> 00:33:04,840
Okay.

1054
00:33:04,840 --> 00:33:07,120
Last on the list, rushing the
final walkthrough.

1055
00:33:07,120 --> 00:33:07,220
Yeah.

1056
00:33:07,220 --> 00:33:07,380
Right.

1057
00:33:07,380 --> 00:33:09,800
So I'm going to take like five
days with you then.

1058
00:33:09,800 --> 00:33:11,460
That's what you're telling me.

1059
00:33:11,460 --> 00:33:12,180
Yeah.

1060
00:33:12,180 --> 00:33:15,520
Well, turn off all the lights, get
the side light on the drywall.

1061
00:33:15,820 --> 00:33:16,100
Yeah.

1062
00:33:16,100 --> 00:33:17,930
And then you see those videos

1063
00:33:17,930 --> 00:33:20,450
where the wall looks like perfect
and then you do that light.

1064
00:33:20,450 --> 00:33:20,730
light.

1065
00:33:20,730 --> 00:33:22,310
It just looks like a monstrosity.

1066
00:33:22,690 --> 00:33:25,910
It's understandable whether it's a
new home or, you know, you've been

1067
00:33:25,910 --> 00:33:27,030
renovating a space, you know.

1068
00:33:27,030 --> 00:33:28,730
The homeowner is going to be

1069
00:33:28,730 --> 00:33:31,250
excited to move in and they
probably want to put their life

1070
00:33:31,250 --> 00:33:37,060
back together and not be living in
a renovation or build anymore.

1071
00:33:37,060 --> 00:33:40,280
But that's one of the things that
I always like to kind of take a

1072
00:33:40,280 --> 00:33:42,960
step back with because, you know,
I always say.

1073
00:33:42,960 --> 00:33:44,980
Let us get in there.

1074
00:33:44,980 --> 00:33:45,900
Let us finish doing our job.

1075
00:33:45,900 --> 00:33:50,320
You know, let's make sure that all
of the paint touch ups are

1076
00:33:50,320 --> 00:33:52,580
completed, that, you know,
everything is working.

1077
00:33:52,580 --> 00:33:52,980
Because once you start moving in,
you know, if there's something

1078
00:33:52,980 --> 00:33:58,970
that we need to, you know, tackle,
let's say it is a deficiency, it

1079
00:33:59,130 --> 00:33:59,930
can make it a lot more
challenging.

1080
00:33:59,930 --> 00:34:06,690
It can also be hard to kind of
really get a good grasp on, you

1081
00:34:06,690 --> 00:34:09,330
know, what is actually left to be
done.

1082
00:34:09,330 --> 00:34:09,650
Yeah.

1083
00:34:09,650 --> 00:34:11,270
And so that's something that I

1084
00:34:11,270 --> 00:34:12,030
usually say, let's get it
finished.

1085
00:34:12,030 --> 00:34:13,190
Let's be done in the space.

1086
00:34:13,190 --> 00:34:15,670
And then that way we can be right

1087
00:34:15,670 --> 00:34:16,170
out of your hair.

1088
00:34:16,170 --> 00:34:18,350
You can move in, the space is

1089
00:34:18,350 --> 00:34:18,830
yours.

1090
00:34:18,909 --> 00:34:19,830
And then we're not, you know,

1091
00:34:19,830 --> 00:34:22,210
trying to trip over each other for
the next, you know, week as we,

1092
00:34:22,210 --> 00:34:25,840
you know, try to finish up what
might've been a day or two is

1093
00:34:25,840 --> 00:34:26,760
worth of actual work.

1094
00:34:26,760 --> 00:34:27,940
Yeah, totally.

1095
00:34:28,239 --> 00:34:31,739
I just happened to be, have sold a
lot of new units lately.

1096
00:34:31,739 --> 00:34:35,159
So I've been doing a lot of
efficiency walkthroughs and like,

1097
00:34:35,159 --> 00:34:35,520
it has been.

1098
00:34:35,520 --> 00:34:36,520
Honestly, a learning experience

1099
00:34:36,520 --> 00:34:36,840
for me.

1100
00:34:36,840 --> 00:34:37,900
Just the different things that you

1101
00:34:37,900 --> 00:34:38,040
catch.

1102
00:34:38,040 --> 00:34:39,139
Like one of them we walk through

1103
00:34:39,139 --> 00:34:42,300
and there's just like a dozen
paint issues that need to be fixed

1104
00:34:42,719 --> 00:34:44,980
and a couple like light switches.

1105
00:34:45,239 --> 00:34:46,060
Like just minor things like that.

1106
00:34:46,060 --> 00:34:49,460
Then other ones are just like
lengthy lists of a lot of stuff

1107
00:34:49,460 --> 00:34:49,860
that's wrong.

1108
00:34:49,860 --> 00:34:45,699
I totally agree with deficiency.

1109
00:34:45,699 --> 00:34:46,960
To be pretty ruthless when you're
doing it.

1110
00:34:46,960 --> 00:34:47,179
Yeah.

1111
00:34:47,179 --> 00:34:49,120
And even kind of from builder's

1112
00:34:49,120 --> 00:34:51,639
perspective, I always will walk
through a project as it's wrapping

1113
00:34:51,639 --> 00:34:52,100
up.

1114
00:34:52,239 --> 00:34:53,860
I like to do the final walk

1115
00:34:53,920 --> 00:34:54,260
through myself.

1116
00:34:54,260 --> 00:34:56,960
And so I'll go through and I try

1117
00:34:56,960 --> 00:35:00,140
to put myself in the shoes, you
know, of the client that's walking

1118
00:35:00,140 --> 00:35:02,440
through and, you know, looking at
those things.

1119
00:35:02,720 --> 00:35:05,880
Because what I have experienced in
the past is it can be great

1120
00:35:05,880 --> 00:35:06,040
quality.

1121
00:35:06,040 --> 00:35:08,140
But once somebody picks up on one

1122
00:35:08,300 --> 00:35:10,520
or two things, one, you can't ever
unsee it.

1123
00:35:10,520 --> 00:35:12,060
And two, you will find more.

1124
00:35:12,240 --> 00:35:14,320
And so a super minor issue can

1125
00:35:14,320 --> 00:35:17,220
turn into full repaint if somebody
starts looking too closely,

1126
00:35:17,220 --> 00:35:20,450
because at the end of the day, you
know, a level four finish on a

1127
00:35:20,450 --> 00:35:22,050
wall when you're standing, you
know, away from it.

1128
00:35:22,050 --> 00:35:23,550
you're not going to see anything.

1129
00:35:23,550 --> 00:35:25,090
But if you get right up to it with

1130
00:35:25,170 --> 00:35:28,550
a light and you're inspecting it
from six inches away, chances are

1131
00:35:28,550 --> 00:35:31,870
you're going to be able to see the
odd deficiency here and there, but

1132
00:35:31,870 --> 00:35:34,150
it's not actually a deficiency.

1133
00:35:34,150 --> 00:35:35,630
Let's dive into our wrap -up

1134
00:35:35,830 --> 00:35:36,370
questions here.

1135
00:35:36,370 --> 00:35:38,610
If you could buy any property in

1136
00:35:39,430 --> 00:35:42,290
the Okanagan in the next 12
months, what would it be?

1137
00:35:42,290 --> 00:35:43,370
Probably a building lot.

1138
00:35:43,370 --> 00:35:43,430
Yeah.

1139
00:35:43,430 --> 00:35:46,410
My wife and I would really like to
build our own place.

1140
00:35:46,410 --> 00:35:48,630
Whereabouts do you want to get
one?

1141
00:35:48,790 --> 00:35:50,770
I like the lower mission area.

1142
00:35:50,770 --> 00:35:54,150
We'd like something with a view.

1143
00:35:54,150 --> 00:35:54,950
Whether or not that happens,
that's...

1144
00:35:54,950 --> 00:35:55,170
Yeah.

1145
00:35:55,170 --> 00:35:55,350
Yeah.

1146
00:35:55,170 --> 00:35:55,350
Yeah.

1147
00:35:55,450 --> 00:35:55,450
Yeah.

1148
00:35:55,450 --> 00:35:55,610
Nice.

1149
00:35:55,610 --> 00:35:58,210
If you could give your 20 year old

1150
00:35:58,210 --> 00:36:01,450
self any advice, what would it be?
Probably enjoy the journey and be

1151
00:36:01,450 --> 00:36:02,960
open to taking some chances here
and there.

1152
00:36:02,960 --> 00:36:04,960
And yeah, just learn to love the
process.

1153
00:36:04,960 --> 00:36:05,100
Nice.

1154
00:36:05,100 --> 00:36:06,100
What's your favorite charity or

1155
00:36:06,100 --> 00:36:08,700
how do you give back?
I like giving back to the people

1156
00:36:09,060 --> 00:36:09,720
around me.

1157
00:36:09,720 --> 00:36:10,420
So wherever I can, you know,

1158
00:36:10,420 --> 00:36:15,380
whether it be a little bit of my
time or, you know, if I've got

1159
00:36:15,380 --> 00:36:17,550
some insight or something like
that, that I can provide.

1160
00:36:17,550 --> 00:36:20,550
or even just connecting people
and, you know, whether it be an

1161
00:36:20,550 --> 00:36:21,830
introduction or creating a new
opportunity for somebody.

1162
00:36:21,830 --> 00:36:25,810
I like to just kind of build up
the community and the people

1163
00:36:26,170 --> 00:36:27,070
around me wherever I can.

1164
00:36:27,070 --> 00:36:27,970
Yeah, I love that.

1165
00:36:28,090 --> 00:36:28,290
Awesome.

1166
00:36:28,290 --> 00:36:29,330
Well, Troy, it's been awesome.

1167
00:36:29,330 --> 00:36:31,410
How can Taylor or I or our
listener help you?

1168
00:36:31,410 --> 00:36:32,930
Don't look at me.

1169
00:36:32,930 --> 00:36:33,830
I know the answer.

1170
00:36:33,830 --> 00:36:35,370
Get off my back, man.

1171
00:36:35,370 --> 00:36:37,750
It'll get done when it gets done.

1172
00:36:37,750 --> 00:36:39,580
Honestly, just give us a follow.

1173
00:36:39,860 --> 00:36:41,340
We'd love to hear from you.

1174
00:36:41,340 --> 00:36:43,460
If you've got somebody that's
looking to do a project of any

1175
00:36:43,460 --> 00:36:45,820
sort, we'd be happy to connect and
see if we can be the right fit for

1176
00:36:45,820 --> 00:36:46,000
them.

1177
00:36:46,000 --> 00:36:46,180
Yeah.

1178
00:36:46,300 --> 00:36:46,960
And mostly Instagram website.

1179
00:36:47,400 --> 00:36:47,860
Instagram website.

1180
00:36:47,860 --> 00:36:48,040
Yeah.

1181
00:36:48,040 --> 00:36:49,200
I can give you our Instagram at

1182
00:36:49,200 --> 00:36:50,740
frozen co and our website is the
same www

1183
00:36:50,740 --> 00:36:51,220
frozenco .com.

1184
00:36:51,320 --> 00:36:51,740
Sweet.

1185
00:36:51,740 --> 00:36:51,800
Awesome.

1186
00:36:51,940 --> 00:36:52,140
Thanks, man.