So you're thinking about starting a renovation on your home, but you're not sure where to start. Don’t just jump in and get started - take it slow!
Stop and assess the situation and acknowledge that while renovations can be entered into with the best intentions, they can quickly turn into a big headache. You need to be sure that you're ready to do some tough work before you get started, and be prepared to deal with making a change of plans when the process doesn't go quite as expected.
If you're sure that you're up for the task, read on for renovation advice.
Figure out why you want to renovate
Why are you going through the process of renovating your home? Are you altering your home to better suit your changing needs? Perhaps you want to add value to your property? Whatever your reason for renovating, it is always important to keep your end goal in mind. This will help you push through when hurdle pop up along the way.
Set your budget
Every project needs a budget. A budget will let you know exactly what you can afford to do. While you may have to alter your vision a bit in order for it to fit into your budget, it's better to change your plans now instead of having to deal with a half-finished renovation when you fail to properly budget and run out of money!
Pay a fair price
Contractors can take care of the work of a renovation, but be sure that you're not paying too much when you hire someone. It's best to get a minimum of three quotes for the same project to ensure that the price that you're paying is competitive. Be sure that you choose contractors who have a reputation for doing quality work within a set time frame.
Choose your renovations wisely
While you may wish to renovate your home to increase your comfort, it's best to choose renovations based upon the value that they will add to your home. Kitchen and bathroom renovations tend to be the most popular. If you decide to start a project on either of these rooms, be sure that you're not choosing design elements that aren’t too uniquely trendy. Additions that add the most reliable value increases are timeless features that appeal to a wide range of buyers.
Renovating your home is a great way to add value to your property, but it's important to plan the project before you begin. Budget your project, screen contractors and choose renovations based on the value that they will add to your home.
If you want to learn more about your borrowing capacity or available equity in your home, call me on 5502 8906 or click on the 'contact us' tab at the top of the page