ByEve Anderson
Whether you plan to renovate your existing home or remodel a new house before moving, budgeting for a remodeling project can be a daunting task. For starters, you will need to set clear goals and figure out how you will finance the home renovation project. Once you set your budget and home remodeling objectives, you will be able to build a clear strategy and set deadlines. Most importantly, keep in mind that most home remodeling projects end up costing more than you originally thought. This article teaches you a few effective home remodeling tips that will keep you on time and under budget.
1.Estimate the Costs and Set your Budget
Before even lifting a hammer, set a realistic budget and make sure you stick to it. Always remember to include a contingency fund for any unexpected expenses and reserve at least 10% of your budget for emergencies. Only by knowing your budget will you be able to prioritize your projects and focus on the most relevant aspects of home renovation.
2. Make a Home Renovation Timeline
Hire a contractor to help you map out the home renovation process and estimate the time needed for each aspect of the project. Determine which part of the home remodeling process needs to be completed first and which aspects can be managed simultaneously. Make sure your home renovation timeline is realistic. Keep in mind the time needed for shipping and delivery of materials, as well as the preparation of the project area. Finally, consider the time needed to address unexpected issues that may happen.
3. Consider the Cost vs. Value of the Renovation Project
Do you plan to sell your home in the future? Always keep the return on investment (ROI) in mind when choosing home renovation projects. For example, investing in a $50K bathroom renovation project does not make sense if you are not going to sell it for more than you originally paid. That is why you should calculate the cost of your remodeling project and compare it to the project resale value.
4. Create a List of Specific Needs and Goals for Contractor Bids
After setting your needs and wants, build a list of your renovation goals for the contractors. That will ensure that your bid is accurate and clear to contractors. Include all changes to the home, both major structural and cosmetic ones. For example, say you are thinking aboutresurfacing a pool. Apart from landscaping and painting, that is one of the most significant outdoor home maintenance techniques.
Therefore, make a detailed list of your needs and goals for contractors, such as the type of materials or deadlines. Finally, if you hire general contractors, obtain bids from at least three sources. Bids can vary widely. According to Angie’s List, general contractors usually charge between 10-20% of the total cost of the job. The total cost incorporates everything from supplies and materials to permits and labor.
5. Increase the Efficiency of your Spaces
Planning to expand your kitchen for maximum utility? Maybe you don’t want to blow out the walls to gain square footage. Sometimes, replacing space-consuming shelving with cabinets is enough to gain extra space. Or, do you want to brighten up your rooms? Instead of installing new walls, you canadd a light tube. Apart from saving you a lot of time, it also helps you reduce the costs of the remodeling project. For example, while the cost of adding a double-pane insulated window is about $1,500, the cost of a light tube is $500.
6. Consult an Architect
Hiring an architect is crucial in the home remodeling project. It helps you create a clear plan and break it down into manageable tasks. If you are planning a big remodeling project, it may require a full-on architectural commission. That includes numerous meetings, multiple job-site visits, and many sets of construction drawings. For smaller projects, on the other hand, you can schedule a one-time design consultation. That will help you reduce costs and finish your remodeling project quicker.
Over to You
Remodeling a home can be a complicated and time-consuming process. Precisely because of that, you need to hire reliable contractors and architects to help you plan your every move strategically. Any strategic house remodeling project starts with goal setting. Based on it, you will make a home renovation timeline and set your budget. Most importantly, you will choose your renovation priorities. While that is not a comprehensive list of all home remodeling tips, it will help you build a home remodeling plan and reduce costs.
About The Author
Eve Anderson is a marketing specialist turned blogger. Interested in sports and exciting travel destinations. Love to share content that can inform people.
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