I find a lot of my friends drag their feet when its time to remodel. I’m sure you can hear a ton of horror stories when you talk about taking the time to remodel a space or you home. But remodeling can be exciting and rewarding (financially and personally) if you take the steps to do it in a smart, streamlined fashion.
Step1 Plan Ahead
Ok, time to plan. You need a clear set of plans and goals of what you would like to accomplish. Think big picture. Don’t forget to take into consideration the time of year, you probably can’t put on a new roof or lay concrete in the winter in Tahoe when it’s snowing. A friend of mine found it helpful to go through magazines and make a vision board of what she wanted. A great digital tool is Houzz.com. You can create an idea book for any space with tons of great inspiration.
Step 2 Do Your Research
Doing your research sounds like a daunting boring process. But understanding the return on your investment is key. You need to know potential costs, choice of materials, and upgrade options.
ROI and POTENTIAL COSTS- Many home projects can increase the value of your home. Kitchen, bathroom, backyard patios and deck additions are some of the most valuable remodels. Get at least 3 quotes from professionals. This may seem like a strange suggestion from an electrician but hear me out. Not everyone does their bids or quotes the same way. We often get underbid by companies who don’t put half of the costs in the bid. Make sure you are comparing apples to apples or you may have hidden additional costs coming down the road!
MATERIALS- Materials play a big part of how your money is spent. Now you have thousands of flooring options, paints, countertops, appliances. It’s easy to get a little bit of choice over load. Researching what you want and what the costs will be is a great way to put together a budget. I for one, do not like surprises when it comes to cost.
UPGRADES- One of the most popular upgrades we find is smart home technology. Whether or not your adding a control system, security system, or motorized blinds and shades you need to do your research. Create a project plan, complete with details of the materials, colors, and upgrades you decide on. A project plan will easily help you to step 3, a budget.
Step 3 SET A BUDGET
Now you know what you want and how much it costs. If you are like me there may be a little give and take there when you add it all up. What is a want and what is a need for you on this project? Sometimes it makes more sense to use a laminate instead of hardwood or something that looks just as nice with half the cost. Now you can see the full cost of the renovation, including material and labor. How much are you comfortable spending?
PRO TIP: Save a little extra money for an emergency fund. Sometimes ripping into walls of a home can be like opening Pandora’s box. Give yourself some wiggle room for the unexpected.
Step 4 HIRE A PRO
You have reviewed several bids and chosen the most thorough and concise bid. You have also chosen the contractor who listens and understands your needs and budget. This is a time to make sure you are hiring someone with tons of knowledge about the industry and experience. Some things in life are not about saving pennies but making sure you have someone who is accountable to you and that you trust. Ask questions! Don’t be afraid to speak up, it’s your home and it needs to be what you want.
Step 5 ENJOY!
Now it’s time to bring the remodel together with some new paint, furniture and décor. Remember that while renovation is happening it can be a lot of hard work but when your done it will certainly be worth it.
As long as you plan, do research, create and stick to a budget, and hire professionals, your renovation will be streamlined and enjoyable.