Stress is an unnecessary factor for any house remodeling project, but unfortunately it can be hard to avoid, especially if this the first home renovation you have ever undertaken. Whether you are worrying about finances, or if you have selected the right contractors, it is perfectly normal to have a few concerns.
We will attempt to alleviate some of these worries, sharing tips and advice from professional contractors who have seen all there is to see when it comes to home renovation projects.
Managing Your Home Life During a House Remodel
One aspect of a home remodel that is easy to overlook is the impact on your every day routines. Having contractors in your house means you may not have much privacy during the day, and your kitchen may be out of action for a prolonged period of time. You may also have to deal with annoyances such as being without hot water, meaning you can’t have a shower.
Many people choose to time their home remodel with their annual vacation, avoiding some of these hassles. However, if this isn’t an option, you may have to book a few nights in a hotel, eat out, order takeaways, and perhaps make use of the shower facilities at your local gym.
This will of course result in additional expense that may not be factored into your overall budget.
Your First Home Renovation – Setting a Budget and Keeping to it
Speaking to San Francisco home remodeling company, SOD Home Group, we have gained additional insight when it comes to setting a budget, and things you can do to try and keep within these financial constraints.
1. Prioritize
If you do not have an unlimited pot of money (who does?) then there may be parts of your home remodel that are more pressing than others. For example, your dated kitchen may need to be allocated a much higher budget, proportionally, than your bedroom which was recently decorated.
Decide on your top priorities to break down your budget into segments. This is best done with an spreadsheet that can be then shared with your contractors who can then factor in their labor costs and the price of materials.
2. Think about your return on investment
If you are planning on selling your home in the near future and you are considering a full home remodel to make your property a more attractive prospect for potential buyers then ROI is a big factor to consider.
Think about what individual projects will add the most value to your home, preferably with the lowest possibly outlay. Projects such as a larger kitchen, a second bathroom, a master bedroom suite, and a basement remodel can all add significant value to a property.
3. Know exactly how the project will be financed
Ideally you would have enough savings to cover the cost of a renovation project, but if that is not the case then you will likely require a loan. One of the best type of loans would be a home equity loan, I.E borrowing money against the home itself.
If your credit is strong, then you could also fund most of the work with your credit card and pay it back in manageable installments.
4. Be Accurate
Conduct through research to ensure your list of costings is as accurate as possible, making it easier assess contractor bids for the work. Knowing how much things cost can help you exclude contractors who are clearly asking for too much money.
Research the cost of specific materials and identify which brands you like and their RRP, the more exact details, the better.
5. Get Several Quotes
Don’t just rely on the quote provided by one contractor. Instead try to get quotes from three or four different contractors to make comparisons, allowing you to calculate a median quote so you can exclude bids that seem above the market rate.
6. DIY and Upcycling
Much of the major work in the home will require the services of a professional contractor if it is to be done to a high standard with no hiccups along the way. However, there are many home improvement projects that you could attempt yourself.
These tasks could include painting and decorating, tilling, upcycling old furniture, small-scale carpentry projects, etc.
House Remodeling – The Initial Stages
Planning a full or partial home remodel isn’t just a case of setting a budget and giving free reign to your chosen contractor. For a successful renovation project, you should be involved as much as possible, especially from a research and design perspective.
This ensures you are paying a fair rate for materials and fittings, and the home will perfectly meet your requirements once finished. Below is a summary of the initial stages of a home remodeling project.
- Research and Planning
- Define a budget and the individual costs involved in a structured spreadsheet
- Set deadlines and an overall timeframe for the project
- Consult with a designer and/ or architect
- Assess quotes from a range of contractors
- Shortlist 2 or 3 contractors and ask them to produce their portfolio and references
- Order materials and fittings so they are on-site when needed, avoiding potential delays
A Full Home Renovation – What to Avoid
We’ve discussed how to budget, plan and arrange your next home remodel, but it may also be a good idea to consider things to avoid, common mistakes that can test the project’s budget and timeframes.
One very common mistake is setting an unrealistic budget, whether it is too small to complete all the work to a sufficient standard. Or if it is beyond your means in terms of realistically financing the project without accruing unwanted debt.
Investing in expensive furniture, decor and accessories before the work has been completed should also be avoided. This can often result in them not matching the overall look of your home, therefore, it is wise to wait and see how the finished remodel looks before making any significant purchases.
Avoid cutting costs on materials to try and save some of your budget for other things. The durability and integrity of the home is of the utmost importance, especially in terms of its market value. That is why purchasing the highest quality materials available should be a priority for any budget.
Thank you for reading, we hope this article has helped to give some insight into the world of home remodeling and we have helped to ease any of the concerns you may have had.
