Thinking of remodeling your home? Before you even pick up the phone and call your contractor to ask for a quotation, we would like to give you give you a rundown of the things you really need to consider before tackling a home renovation.
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How much can you realistically spend for this home renovation project?
The first thing a home owner should do when thinking of a house renovation project is to look into his finances. Assess your bank account and ask yourself whether you can afford a major renovation now or if it's smarter to wait a little longer. Does your budget cover taxes and consultation fees? You have to take into considerations the items that are outside the construction expenses – such as purchasing of new appliances, lighting fixtures, a new paint job, or even food for the contractors.
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Do you have a buffer?
After examining your finances and analyzing your capacity to pay for the remodeling of your home, it’s now time to assess if you have enough buffer for your allotted budget. Sometimes, the home renovation process takes longer than how you expect it to take. By having enough buffer for your budget, you’re safe whether or not the construction phase finishes on time.
You should also have buffer for the construction phase. If, for example, you need to have your house remodeled in a month and a half because your kids will start school by then, it’s wiser to start remodeling your house two months ahead so you have a two-week buffer if in case things don't go as planned.
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Has your contractor been evaluated?
In the early stages of planning for your home renovation, do not rely on contacting one contractor only. It is always safe and smart to get at least three quotations that you can compare costs into, rather than having only one contractor. Also, ask around – your friend or colleague might recommend a good contractor that they already have worked with before. Getting recommendations is the best thing that you can do to avoid horror stories in the end.
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Do you want to renovate the whole house or just a room or two? If you’re thinking of remodeling a specific room, which room is it?
Remember that renovating a specific room in the house will affect the entire landscape of the house. Say for example if you remodel your living room, will the entryway or attached rooms look outdated after the renovation? It’s important to consider how the whole house will look after renovating only a part or two of the house – and to manage it accordingly.
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If it involves the whole house, will you require permits?
Normally, if the renovation involves small parts of your home, you'll be fine but if you need to make major alterations such as plumbing and electrical structure that comprises your city's edifice, then you may need to get permits for your project. It's always safe to be aware of your location's rules when it comes to major renovations. It may take some time before you can proceed with the actual renovations but it will save you a lot of headaches in the long run.
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How long will the whole renovation process take?
As discussed in the buffer portion, you need to know how long the whole renovation phase will take. There are important things to consider such as will the house be ready in time for the start of the kids’ school or your work, or a big project, or a special occasion. There will always be an important event that you need to prepare for right after your renovation project and so this is why it’s important to know the duration of the whole construction phase.
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Do you need to relocate during the renovation phase?
If you have decided to renovate the whole house, you have to know if you need to relocate while the job is ongoing. This should also be covered in your budget and buffer. There are important matters to consider – location of your temporary house, is it close to your house that's being renovated so you can check the progress of it, is it relatively close to your workplace, etc.
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Do you really want it?
Last, but the most important thing, is your decision of making this happen. Once you've decided to go on with this major job by contacting possible contractors, getting quotations, or even spending time to allot budget and look for new designs for your home renovation project, you couldn't go back. It's always wise to not be fickle-minded when it comes to your decision.
There you go – the top things that you have to think of when considering a home renovation job. If you like this article, please feel free to share it and let us know what you think of it in the comments below. For more practical tips on anything home care and real estate, always visit www.guamrentals.com
