Restoration This is common in historic buildings but is also applied in any major improvement project. Repairing holes in the walls, fixing old fixtures or replacing them with replicas of the originals, and removing old carpet and refinishing the wood floors underneath are all examples of what may be involved in a restoration project.

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Renovation is "the act of renewing." In simple terms it's making a room or entire building look better by fixing what's already there and adding new elements. Again, depending on the condition of the home when the project begins, this is generally more cost effective than remodeling. Many factors will determine whether renovation is more or less costly than restoration.