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Plan
Planning is the most crucial factor. You need a concrete plan of how space will look when it is complete and a plan for each step of the entire process. The things you can plan to help you finish on time include:
- A realistic timeline for the project.
- Dependable subcontractors and crews. Sometimes you need to hire a subcontractor for particular phases of your home remodeling project. These must be people you can trust to show up and do a perfect job when you do.
- Contacting an electrician and plumber in advance so that they can be available on-site when you need them and not when they are available.
- Ordering for appliances, cabinets, vanity, countertops, and everything else so that you are not overly inconvenienced in case of shipping or manufacturer delays.
Planning will help you know the decisions you’re going to make and what they will cost beforehand.
Set a Home Remodeling Budget
Your home remodeling budget must include the costs for building permits, decorative finishes, building materials, and labor. First, ascertain how much money you want to spend, then arrange for financing.
Remember to set aside at least 10% of your budget for unexpected costs. Request price estimates from several contractors, and if the estimated costs surpass your budget, eliminate some elements of the project that are of a lower priority.
One of the most important aspects of home renovation planning is knowing your budget and adhering to it. You also need to include incidental costs like the cost of eating out while renovating your kitchen or even staying at a hotel for a few nights.
It is easy to desire a top-of-the-line renovation. However, probably what you need is some cheap upgrades that will make your house look more expensive. So, do sufficient research and consummate your budget before lifting a hammer.
Consider the Resale Value Before Remodeling
Before putting a hammer to a wall, installing prehung interior doors, or engaging in a DIY project for your kitchen windows, consider the cost of your home. How will these changes impact your home’s resale value if you decide to sell it in the future?
Check out its present value in its current state, then consider if its value will increase with the changes you make. It is a good idea not to invest excessively if you don’t get that money back. Instead, you may wish to consider a refinance loan that can help you reduce your monthly mortgage deposits, which will free up some money for your remodeling project.
Find Good Contractors
If you consider doing a remodeling project above your skill set, it may be a good idea to invest in an experienced and reputable contractor. This move will save you huge chunks of money and time.
Many channels will help you find contractors online. However, beware of untrustworthy sources to avoid paying for the damage later on. An excellent place to find great contractors for your home renovation project is the National Association of the Remodeling Industry (NARI) website. You can also ask for referrals from your neighbors, friends, and family, and social media.
Your ideal contractor should have over three years of experience, be a NARI member, and have an excellent record with the Better Business Bureau (BBB).
Get a Detailed Contract
Jumping into a renovation project with an ambiguous contract, or without a contract at all, is setting yourself up for trouble in the future. Your agreement needs to contain the correct address, a commencement date, a finishing date, and details of the work that is going to be done.
You must understand the renovation contract you will be signing. The most common form of a home remodeling contract is a fixed-price contract, and it shows the total cost of the project, including labor, all permits, and building materials. It is an ideal type of contract that fixes the project’s costs and prevents you from incurring unexpected price escalations later.
A home remodel is an exciting project that will enhance the value of your home and give you all the customization features you desire. So when planning a remodeling, follow the above tips by ensuring you create a concrete plan, set up a budget and a timeline, and find the right contractor for the job.