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Staying on Time, on Budget, and in Compliance With Your Home Remodel
By Ray Flynn, DiyGuys.net
When it comes to remodeling or renovating your home, there are many things to be considered long before any construction begins. Whether it’s a kitchen remodel or large structural changes, a complete budget breakdown, materials, labor, design, and time frame should all be carefully considered. Here, Calcagni Real Estate offers some tips for what to expect when you’re remodeling your home.
Establish Your Timeline
Home renovations can be disruptive to everyone in your household. There may be times when you won’t have access to water, power, or the internet. If you work from home, then this can be a huge problem that could cause big problems for your team or with any projects that must be completed.
If you’re doing this DIY style and hiring independent contractors, then you’ll need to have a timetable to make arrangements for when they’ll be there, and that can take weeks or even months to schedule if it’s during the busy remodel season of June, July, and August.
Make a Budget
A good rule of thumb when creating a renovation budget is to factor in the amount you want to budget per room as it relates to the value of your home. For instance, you don’t want to spend more than 10 to 15 percent of your home’s value on a single room. An example would be if your home is worth $100,000, then the maximum you want to spend on a bathroom remodel would be $15,000 to make sure you get a good return on your investment.
You’ll also need a budget in order to obtain a loan if you’re not paying cash for the job. And whatever total you’ve reached for the remodel, you’ll want to add an additional 20% to that number to cover the inevitable unexpected expenses.
Once you have your budget established, set up a digital filing system to keep everything organized. Renovations can be a little messy, so digital files can be a lifesaver. Figure out an organizational system that makes sense to you, like using a free online tool to merge PDF files that are connected by project or contractor or budget into one document. The tools are easy drag and drop style, so you can get organized quickly.
Consider the Return on Investment
Not every home remodel or renovation will give you the same return on your investment. Remodeling your kitchen, even minor ones, can add significant value to your home as long as it’s done with an eye to appeal to a wide range of prospective buyers. While a swimming pool, though important to you and your family, may not be your best bet if you’re looking to get a healthy return on your investment.
Of course, you’ll have to start with a good idea of just what the current value of your home is. One of the best ways to do this is by a search for similar size homes in your area. You can get valuable information like the average sale price of the home overall as well as the average sale price per square foot to get an even more detailed picture.
You should also look into a home warranty to protect your investment once it is done. Not all policies are alike, so do some research to determine the typical cost to cover the systems, appliances, and upgrades in your home. You’ll just need to know your home’s size and the types of things you want covered in order to get an estimate.
You can also check with a local real estate agent, like those at Calcagni Real Estate, to see what updates buyers are looking for when they check out homes. That way, you are making informed decisions about your renovations.
Outdoor and Landscaping Renovations
Renovating your outdoor landscaping isn’t just about planting some shrubs and trees. It’s also about designing walkways, patios, retaining walls, steps, and other features that make your outdoor space more usable, as well as making it more aesthetically pleasing.
Having a professional outdoor landscaping contractor can be invaluable here since they’ll have access to the most efficient and cost-saving means of creating what you want using landscape designer software. With it, they’ll also be able to create a budget that’s more accurate than if you were to price it all out yourself.
Certain types of home renovations will require you to have a permit from your city’s building department. And there are different types of permits and requirements depending on the type of renovation you’re doing. Permits are not free, either. They can range from $50 for a fence installation to several hundred dollars for a room addition.
If you’re doing the project yourself, your name will be on the permit, and you’ll carry the responsibility. If you hire a contractor, they will get the permit and will be the party responsible for staying within code.
At various stages during your project, an inspector will need to come out to verify the work is following the correct requirement and meets the specified codes.
Make a Strategy to Get Your Reno Complete
Home renovations are almost never an overnight or even a weekend project. It will take time, patience, planning, budgeting, and research. But by hiring the right people to complete the project, like contractors with the latest in design software, and knowing you’ll be staying on a budget that will get you the best return on your investment, you can have the home design that works for you today and long into the future.