Once the initial excitement of buying your house has settled down to a peaceful calm, it is time to start your first renovation project! That is unless you bought a fixer-upper, in which case you need to start your renovation projects as soon as humanly possible – particularly if you want to flip the property.
The idea of renovating your home may feel you with dread and make your hands clammy; this is a perfectly natural response to the thought of spending thousands of dollars and weeks completing one project.
The trick to home renovation projects is that they require planning and research before you get started. That way you can be sure that you’ve got the right price and you’re doing the right thing.
This article is all about letting you know what it is that you need to take into consideration before you renovate your home.
Time is probably one of the biggest factors to take into account when planning a renovation job for your home. The bigger the renovation project, the more time will be required to complete it successfully. Timing is everything when it comes to renovating and people often forget just what amount of time goes into each job.
The time you spend renovating your home isn’t just on the actual project itself, it is also the time that you will spend planning the project and hiring the right team for the job. Renovation projects can take anywhere from a couple of weeks to a couple of months to plan and implement.
When deciding on your next home renovation project, be sure to allow extra time for unforeseen aspects like weather conditions and setting or drying time. For every project that you will start, you will likely run into at least one issue along the way so you mustn’t be pressed for time.
Cost is another driving factor for deciding what projects need to be prioritized. If you are planning to gut and remodel your entire home, the average cost to do so will be around $150,000 to $250,000. That cost all depends on the square footage and age of your home. The bigger the house, the more it will cost to remodel it.
Gut renovation costs include demolishing costs, structural improvement costs, and new electrical and plumbing costs. Those costs don’t even take into account the money you will need to spend on a new roof, finishings, and appliances.
There are cheaper projects that you can consider doing, which include things like repainting and redoing your windows and doors. Most home renovation projects will require a decent-sized budget, but on the bright side, they will add value to your home.
These renovation projects will allow you to have a higher asking price one day when you decide you are ready to sell your house.
The ‘tax’ referred to in this point isn’t a literal one – so there is no need to panic. Inconvenience tax is the amount you will be inconvenienced by the renovation project. No matter how small the project is, there will always be an amount that you are put out by.
That can include things like having to vacate an entire room or wing of your home during the project that, as you now know, can take months to complete. You will also be inconvenienced by the trips to and from the hardware and building supply stores; luckily, you can find circuit breakers for sale online so, you will have one less headache to battle!
Stick To Your Schedule
Every home renovation project must have a schedule attached to it. This schedule will need to be in great detail. What you don’t yet realize, is that you will have jobs that overlap and they will require multiple tradespeople to be in your home at once.
Your renovation schedule should be drawn up by professionals, especially for your first project. The professionals will know what needs to be accounted for when planning a big project. Your schedule should also include things like when appliances and materials are due to be delivered, that way you will know if something is late, and you will be better able to assess what that delay will mean for the overall project.
More often than not, the larger home renovation projects will require you and your family to find temporary accommodation for the duration of the job. That will come as an extra cost that you need to work into your budget.
Some people choose to stay with friends or family during their home renovations – you must remember that these projects can take weeks to complete, so you need to make sure that both you and your family or friends realize that.
What works for some people is to split the stay, which means that half of your stay will be in a hotel or motel, and the other half will be with friends or family.
Find the Right Team
The larger home renovation projects will almost always require a team of professionals to help get the project done on time. Do your research and ask friends or family for trade references – they will have experienced advice on who to hire.
You can also ask your local building supplies store for trade references; they often have companies or teams that they are happy to recommend. You need to have implicit trust in your team – don’t just hire the cheapest option because there are more important aspects to consider here.
Big home renovation projects are not for the faint-hearted, but they are almost always worth their trouble. Ultimately, we all have dreams of the perfect house, and the only way to make those dreams a reality is by undertaking these mammoth projects.
Be patient and try to stay calm; before you know it, you’ll be living in the home of your dreams, and this will all be a distant memory.