The average household looking to renovate will spend $12,000-$13,000 on the project this year. With so much money, time, and effort on the line, it’s no wonder that more homeowners are looking for home renovation guides on starting a home renovation project. Despite the effort required to plan, design, and execute a home renovation project, it’s also fun and excitement.
Here is everything you need to know about planning such a project.
State Your End Goal
Renovations may be to add value to you or increase your home’s resale value. Define it. Use this end goal as the center of your decision-making.
Search for Design Inspiration
Inspire yourself with designs from Instagram, Facebook, blogs, etc. Search online for design ideas. Put them in a folder to sort through before deciding on a contractor and a renovation plan.
Hire an Experienced Contractor
For your exact renovation, ensure the contractor you hire is experienced. They should have specialized expertise in the room you want to renovate or the precise task you want to complete. Ensure they are licensed and insured, and call references or read their reviews online.
Rent Portable Storage Containers
As you renovate, you will need somewhere to store your furniture and belongings without damage. Rent portable storage containers that can be dropped off on your property and used to store your most valuable possessions for as long as needed.
Research Permits
Zoning regulations, building permits, and other regulations may apply to your home renovation project. Understand what paperwork you need to file for your remodel. Do this early, as you want to ensure your timeline is on time.
Limit Your Budget
Set a budget number. Under this, make choices accordingly. If you want materials and features that exceed your budget, consider alternatives or wait until you have the full amount to pursue the renovation you want.
Choose Your Materials
You may have dozens of renovation options, such as what material to select for your flooring or countertop. High-end materials can be luxurious but skyrocket budgets. Consider what material best suits your budget.
Be Ready to Compromise
Like most contractors will tell you, a homeowner may only get 50-75% of their vision accomplished through a renovation. Most people don’t realize how expensive materials and contractors are. Be sure to save enough money to fulfill your vision as possible.
Have Your Materials Ready
Have materials ready to avoid renovation delays. Appliances, fixtures, and building materials should be on-site long before you start work so that you’re ready to move forward quickly. This is where a storage container can help. You’ll have space to put these materials as ordered and delivered.
Select Your Order of Things
For a full home renovation project, ensure you complete the tasks in the correct order. Plumbing, HVAC, or electrical utilities should be renovated first. Add utilities before starting other tasks. This way, you won’t have to backtrack to make changes.
Tackle larger, more time-consuming projects first or start with what you spend the most time using. Schedule smaller projects after larger renovations are completed. These could include installing updated light fixtures or converting an old bedroom into a home office. Complete your finishing touches, i.e. painting rooms, hanging curtains, etc.
Be Prepared for Surprises
When you start a renovation, you still determine what you may find that could increase expenses. Examples include mould, plumbing leaks, damaged wiring, or structural components that no longer meet standards. Plan and budget for undiscovered problems.
Set a Timeline
Alongside your contractor, set a realistic timeline with a desired start date. This will mean setting aside some common comforts while the work is completed. A construction schedule should include cleaning the area, shipping and delivering materials, and some wiggle room.
Have a Backup Plan for Financing
Most homeowners finance their renovations with their tax-free savings accounts. It’s important to have a backup plan if you need more liquidity. This is why applying for a personal loan, line of credit, or home equity line of credit may make sense.
Find Where You’re Going to Live
Depending on the size and part of the house you want to renovate, you may wish to live elsewhere while the work is done. Should you decide not to live at the property at the same time as its renovation, give yourself lots of time to find and book other arrangements.