Remodeling a house costs between $19,800 to $73,200 on average, depending on the home size, extent of renovations, and quality of appliances and materials, according to HomeGuide’s price estimates. Whether you’re giving your home a makeover to sell, or you just feel like it needs significant changes, it’s crucial to know what home renovations entail before you can start. Remember, renovations involve more than updating your home decor, upgrading your appliances, and fixing damaged fixtures. Successful house renovation projects entail a series of exciting and chaotic activities like choosing wall paint colors, budgeting, hiring contractors, and meeting deadlines. Luckily, you can tackle your home renovation with ease if you follow the right steps. Here are some tips for planning a successful home renovation project.
Determine your ultimate goal
The first step to planning a stress-free renovation project is determining what you want to achieve once the renovations are complete. In most cases, homeowners renovate their properties to increase the resale value. However, you can remodel your home to enhance style and comfort so that your family can enjoy living in the property for years to come. After setting your ultimate goal for your home’s renovation, assess your neighborhood. This step will help you identify renovations that offer the highest returns, like window replacements, minor kitchen and bathroom upgrades, and landscaping.
Home renovations are expensive, and you’re more likely to incur unnecessary expenses if you don’t establish a budget and stick to it. To avoid overspending, experts suggest creating a detailed home renovation budget. Evaluate multiple quotes from suppliers and contractors to get an idea of how much construction materials and services cost. Having a financial plan helps you decide if you can afford the renovations or need financing. If you’re on a tight budget, you may opt to take out a personal loan or apply for a cash-out refinance. According to The Home Loan Expert, you can use the funds obtained from a cash-out refinance for home improvements. Cash-out refinance is similar to a traditional loan, except that you’re taking cash from your home’s equity. This loan allows you to pay high-interest debts, fund home renovations, and fund other personal needs.
Create a plan for completion
When you decide to give your home a makeover, you’ll be tempted to go shopping for home decoration or knock down the first unwanted wall you see in your space. But before you can make changes in any room, it’s wise to lay out a plan highlighting which rooms you should renovate first. That way, your home remains functional, especially if you’ll be living inside throughout the remodeling project. Building experts recommend renovating multiple rooms simultaneously. For instance, you can start with the bathroom and kitchen since they are the most utilized spaces. Also, create a workflow chart for the entire house improvement project. Doing so helps you determine an order of completion from one room to another.
Preparing for a house renovation can be fun and, at the same time, chaotic. However, the chaos shouldn’t stop you from enhancing your home’s aesthetics. To make your remodeling project successful, know your goal, have a workflow plan, set deadlines, create a budget, and hire the right contractors.