Establish a renovation plan
Although it may be tempting to remodel your entire home, or several rooms, practical concerns might limit what you can reasonably hope to accomplish in a given time frame. To create your home renovation plan, start with the area that needs the most attention. This could be an aging bathroom, out-of-date kitchen, or a decaying roof. Or you can choose a project that will render more usable living space. This could be remodeling the basement for extra storage space or for a family room. If the project goes smoothly, you can perhaps plan another one soon.
Select a qualified builder
When you have a plan, start looking for a suitable contractor or builder. Contact the chamber of commerce, ask friends and coworkers for referrals, or check online local listings. Contact at least two or three. Make sure you request photos of previous work as well as references you can contact. If they pan out, ask for a detailed quote for the home renovation you have in mind. Compare credentials, availability, and pricing to make your final selection.
Designate an affordable budget
A home renovation can be exciting and lead you to spend more than you originally intended. For example, when updating the living room by removing a wall, you may decide new windows and flooring are needed along with track lighting. You will also want to consider the cost of quality materials. It’s easy to spend more than planned, so work on a renovation budget that you can live with. Regardless of if you are paying at the end of the project or over several months and years on a home improvement loan, you want to stick to budget. Ask your contractor for a quote so that you can plan your budget.
Plan your home renovation project so that you won’t be caught by surprise or be tempted to overspend when the work gets underway. A little extra thought now can save time and money later.
