Revamping or constructing a new home? Renovating a home is an excellent way to increase the value of your home, but you may want to do your homework before knocking down the walls.
Consider being mindful of these factors before switching things up:
Do your homework: Be sure to find a reliable architect and contractor. Your network of family and friends can be helpful with references. You may also find online sites can give you an idea of various home services. Interview at least three contractors and have a concrete plan so you can get the most out of your research.
Have a plan “B”: Whether you’re giving your home a new facelift or building one from scratch, it’s given you’ll have some form of a plan. But don’t bank on that. Have a backup plan and prepare for the unexpected. Unforeseen happenings such as out-of-stock materials to delayed deliveries can easily throw things off.
Account for hidden costs: Much like having a backup plan for your home renovation, you’ll want to set aside an extra hunk of money to prepare for mishaps and the unexpected. You may find issues lurking underneath the surface and it’s rare to have a renovation go smoothly. Consider factoring at least 15-20% of your budget for those hidden “surprises.”
Be neighborly: Renovating a home or apartment causes lots of commotion. Keep your neighbors (and superintendent, if it’s an apartment) in the loop. Share emergency contact information and regular progress updates.
Making a change to that rundown home or starting with a fresh slate is an exciting, but chaotic experience. It pays to do some research and be prepared. Be sure to keep these tips in mind when renovating your home.