Remodelling a home can be an exciting prospect for homeowners who want to bolster the value of their home or are searching for ways to improve the quality of the place they live in. These projects can provide your home with a wide range of benefits if the projects are done properly. While the actual work that goes into the renovation is the most important element of the project, there are a number of other things that you can do before the work gets started that will increase the chances of the project being a successful one.
Create a Realistic Budget
The first step towards any successful remodelling project is to create a budget for the project. This budget can be large or small depending on what you can realistically spend on it. If you don’t create a strict budget that takes all of the costs into account, it’s likely that you will be surprised by the final cost, which can be problematic if you find that you’re unable to afford it.
Once you’ve determined what type of renovation you want to pursue, you’ll have a better idea of how to craft a proper budget. If the renovation is proving to be a major one, it’s possible that you could obtain a line of credit that draws from your home equity. This type of loan uses the equity within your property as collateral.
The most important costs of any home improvement project include the costs of hiring contractors and the costs of the materials that need to be used during the renovation. Once you’ve calculated these costs and have determined how much you’re willing to spend, you should have a good idea of whether or not the project will fit into your budget.
When hiring a contractor, make sure that they provide you with a free quote before the project begins. A quote is an estimate of what you should expect to pay for the project at hand. Although these quotes are only estimates of the final project costs, they are usually never too far off from the final costs.
When you’re creating a budget, it’s essential that you put aside some money for any hidden costs. With large remodelling projects, there may be some additional expenses that only display themselves midway through the project. Set aside 10 percent extra of the total that you expect to pay for the renovation.
If the estimate that you’re provided with is slightly over your preferred budget, there are ways for you to cut costs. For one, you should tackle some of the smaller projects yourself to keep costs down, which can include everything from removing the tile in your kitchen to pulling up old carpet. If you want to save money, consider hiring contractors in the fall or winter seasons. Contractors are at their busiest throughout the spring and summer seasons.
Identify the Scope of the Project
The only way for your project to be completed on schedule is if you have identified the scope of the renovation. If you’re hazy on what the scope should be once work has begun, you’ll likely find yourself making numerous change orders to the original contract, which can cause the project to spiral out of control in terms of both time and money. A contractor needs to know the size of the project beforehand so that they can bring along the proper equipment.
Conduct Extensive Research
The biggest factor in what a remodelling project will cost is what types of materials will be chosen for the project. There are a variety of different materials that can be selected for nearly every type of remodel, which can scale to your budget.
If you’re remodelling the countertops in your kitchen or bathroom, the more luxurious and pricey choices available to you include granite and marble, both of which offer a stylish appearance to countertops. However, a material like engineered quartz is much more affordable while also being aesthetically appealing.
When you’re looking at flooring materials, the most inexpensive options are typically those of laminate and tile. Carpet can vary substantially in cost and quality. The most expensive flooring materials include hardwood and engineered hardwood. If you’re finding that the costs associated with the materials you’ve selected have put you over budget, consider replacing an expensive material with a more affordable one.
Interview Prospective Contractors
No matter how well you budget and plan for your next home improvement project, the project won’t be a successful one unless you hire the right contractors for the job. There are dozens if not hundreds of local contractors for you to consider, which is why interviewing prospective contractors is so important.
Make sure that you speak with the project manager before signing a contract to ascertain whether or not they understand your vision. When interviewing prospective contractors for the job, you’ll want to obtain references from them as well as information about their licensing.
Follow up on the references you receive to determine if past customers are satisfied. Before interviewing contractors, look up online reviews on Google and the Better Business Bureau to get a good idea of their reputation. During this process, it’s possible that you will be provided with a surprisingly low cost estimate for the project.
While low prices are likely enticing, companies that provide low-ball estimates are typically not legitimate. It’s better to pay more for a reputable company that will do the job effectively and correctly.
Consider Other Options
Whether you’re planning your budget or speaking with contractors, you should never be hesitant to consider other options. If the scope for your project is higher than your budget, there are always going to be ways to scale down the project without sacrificing quality.
According to www.housetipster.com, if you’re having difficulties with any aspect of the project, the contractors you interview will likely be able to provide you with some tips that could bring down your costs.
Consider the return of investment for the project. If you plan on making a remodelling project of around £50,000 for a home that’s only valued at £125,000, you’ll likely be putting too much money into the house, which you may not be able to recover if you sell the home in the future.
Talk to Family Members and Consider Leaving Home
If you have young children who will be surprised by how disrupting a remodelling project can be, speak with them beforehand to make sure that they understand the benefits that come with making those changes. You could also consider leaving home while the remodelling project is occurring.
If the project is a small one that will only take a couple of days to complete, you may be able to stay in your home without issue. If the remodels are going to take a few weeks, consider planning a vacation around the project so that you can enjoy yourself while the work is being completed.
Prepare Your Home for Remodelling
There are several things you should do in your home before the start of the project. Move any artwork, electronics, or photos to more secure areas where they won’t become dusty or get broken. You should also cover any large furniture items with plastic or similar coverings to keep dirt and dust particles away. Smaller items of high monetary value should be placed in a safety deposit box. These items include jewellery and cash.
By following these suggestions your remodelling project should be stress-free and you should end up with wonderful results. It’s hard to predict any type of issues that may occur along the away however, these tips will decrease the chances of you having to deal with any problems during the remodelling process.