June 21, 2024
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Tips For Your Next Home Renovation

If you own a home for many years, you’re going to go through some lifestyle changes over that time. You might have kids, or your kids might grow up and move away. You might start a home-based business. Decide you need a family game room or want to add on a guest room. Whatever it is that you want to do, there are a few principles you can follow when it comes to home renovation that can make the process go more smoothly.

Know Your Finances

Once you have some bids for the work that you need done—or an estimate if you’re feeling brave and planning to DIY it—add both money and time to that estimate. It’s so common for renovation projects to go over budget, and if you’re already taking the time and money to do it, you want to make sure you have enough to do it right. One way many people pay for renovations is through a home equity line of credit. This has a few advantages, including a potentially low interest rate and flexibility in how much of the credit you use. You can review a guide on the best HELOC lender analyzed a variety of factors to help you decide which one is right for you.

Talk to a Professional

Even if you’re planning to mostly do it yourself, you may want to talk to a professional about your plans. After all, they’ve done dozens or hundreds of renovations, and they might be able to quickly spot potential problems and common mistakes to avoid that you may overlook. Whatever you decide, you should consider hiring professionals to do any plumbing or electrical work since the cost of doing these the wrong way can be catastrophic.

Create a Timeline

Either on your own or with a contractor, make a timeline of what work will get done when. This can be especially helpful if you are DIY-ing since there can be a temptation to tinker endlessly. A timeline will help you get a sense of the logical steps you need to take in your renovation as well as which items can be done at the same time.

Remember the Big Picture

It can be easy to get totally focused on an odd detail during your renovation, like the right granite counter for your kitchen or the perfect bathroom fixtures. Be sure to consider how all the different elements will work together, including colors, textures and more. Study up on tips for a successful home renovation and apply what makes sense to your specific project’s needs. Think about the overall effect you are trying to create and look for lower-cost alternatives if your first choices threaten to push you way over budget.

Be Specific in Your Contract

If you do work with contractors, make sure that you have a contract and that it is detailed. It should include such items as when the work will start and finish as well as exactly what work will be done. You may also want to opt for a contract that locks in the prices by including what everything costs, saving you unpleasant surprises later.

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