Remodeling Your Home – Here’s What You Need To Know
Guest Contribution by: Karl Kennedy
Author of ProjectorTop.com
Whether it’s your outdated kitchen or a guest bathroom you’re embarrassed to share, there comes a point when you start thinking about remodeling your home.
There’s no shortage of ideas online or from the numerous home improvement and remodeling shows. Before you grab a sledgehammer and start knocking down walls, there are a few things you need to know about remodeling a home. When you have all of the information, your home remodeling project will run smoothly, and you can avoid the most common pitfalls.
What is Your Return on the Investment
Remodeling your home can increase its resale value but you want to do some research. The potential return on investment (ROI) depends on the project. Some remodeling projects have a higher ROI than others.
For example, remodeling a spare bedroom or home office into a dedicated media space for your laser projector may be perfect for your family but not for potential buyers. The number of bath and bedrooms makes up a large part of the home’s value, while a media room is a luxury not everyone wants or needs.
If ROI is important, choose remodeling projects with a mid-range price that require minimal upkeep. Updating a kitchen with new flooring, countertops, and appliances is one way you can increase the home’s value while also getting an upgrade.
Get the Right Permits
Every remodeling project is different. Some require building permits, and you don’t want to start a project without the proper paperwork. The fines can be expensive, sometimes wiping out your remodeling budget. Every city has different building codes, so check with your local engineering department to find out which permits are necessary.
Some California neighborhoods come with homeowner associations (HOAs). Any exterior remodeling requires permission from the HOA. It’s also a good idea to let the neighborhood association know if you are planning on having work trucks on the property for an extended period.
Don’t Use All of Your Budget on the Remodel
Remodeling projects rarely go exactly as planned. There always seems to be at least a little hiccup in the plans.
Whether it’s a small problem or a larger one, you can handle it if you leave room in the remodeling budget. If your budget is around $20,000, set aside $3,000 or $4,000 to cover any unseen problems.
It will keep the project running smoothly, and you stay on budget.
Get Quotes from Several Contractors
You don’t want to go with the first contractor you interview. You may not be getting the best price. Interviewing more than one contractor allows you to get the best price for your project. It also gives you the chance to find an experienced contractor.
Another reason to talk to multiple project managers is personality. The contractor will be on your property for months, so it helps if your personalities are compatible.
Have a Contract
It doesn’t matter if you know the contractor, get everything in writing. If something goes wrong during the remodel, you will need the documents for legal recourse. The contract should include the project’s starting and ending date, along with detailed remodeling plans. Labor and materials costs are also included in the contract.
Remodeling your home, whether it’s adding an extension or updating an existing space, is exciting and stressful. Finding a contractor you trust, getting everything in writing, and leaving some wiggle room in your budget are a few ways you can minimize stress and start looking forwards to living in your newly remodeled home.