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PRECIOUS REALTY LINKS Does Your Loved One Need Live-In Help? Downsizing: Sell Your Home and Save Money How to Nativate Senior Care When Your Parents Have Different Needs The Home Buyer's Choice: Starter Home or Forever Home? How to Own Multiple Homes in Different States When you Have Pets A Homeowner's Guide to Managing a Home Renovation |
A Homeowners Guide to Managing a Home Renovation by Janet Campbell
Whether you plan to remodel the kitchen, add a home office, or change the living room's floor plan, many important considerations need to be accounted for before starting a home renovation project. From creating a budget and finding the best home warranty provider to working with an experienced contractor, this article by A Precious Home will serve as a short guide on how to complete a successful home renovation. Create a Sound Budgeet The first step towards preparing for a home renovation project will be to create a realistic budget. The budget should include all types of costs, such as the expense of purchasing raw materials, permits, equipment, hiring labor, waste disposal fee, and more. As a rule of thumb, increase your total costs by 20% to cover any unexpected delays and expenses. Next, ascertain the ways you will afford these costs. For minor renovations, using your savings will suffice. But, for major remodeling projects, taking a personal loan may be necessary. Keep the cost of interest payments in mind as well while creating the budget. Here's a list of expenses for major projects as reported by Rocket Mortgage:
Hire Experienced Contractors When it comes to major renovation projects, hiring contractors is the way to go. This is because the sheer workload of the project cannot be managed by just one person. Given that there are numerous contractors on the market, here are some features to look for that separate the best from the rest:
Remember to Purchase a Home Warranty In the aftermath of any kind of major renovation project in your home, it is important to have some sort of protection in case something goes wrong along the way. Getting a home warranty can provide peace of mind by providing coverage for necessary repairs or replacements due to damages on certain appliances or systems within your house post-completion of the renovation project. This can include your HVAC system, major kitchen appliances, and other electronics around the home. Having a home warranty can save you hundreds, if not thousands, of dollars that you may have had to spend out of pocket instead. Add a Home Office Given the increasing popularity of remote jobs, it is likely that your current or next job may require you to work from home. Hence, adding a home office will be a great decision. Having a home office provides many benefits, such as increased productivity and convenience. Here are some key details to keep in mind while designing the office:
Adding a home office will come with its own set of costs, but, as reported by This Old House, it provides a healthy 54% ROI as well. Additionally, not only will you have a dedicated space to work, but it can be used as storage as well. From sourcing the best contractor to keeping the project within budget, undertaking a home renovation project is no small feat. But, given that you are investing significant time and resources, it's a great idea to add a home office to the property. In the long run, these additions are only bound to increase your home's value. Contact us BUT FOR FASTER RESULTS CALL US AT 516-216-7462.CONTACT US AT:
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