Spring is around the corner! If you’re fixing up your home to sell or just ready for something new, you’ll most likely be hiring a contractor to help you out. Before you start the project, here are 5 ways to ensure the entire home renovation goes smoothly.
1. Plan How You’ll Live
If you’re renovating a major room, put together a game plan of how you’ll live without the space. Take the kitchen for example. Too often people wait until the last minute to clear the room only to realize they can no longer make themselves food! Whether it’s your bedroom, bathroom, or kitchen, create a plan for living without that room or create a temporary space if you can.
2. Remember Resale Value
Unless you plan on staying in the property for many years, go for broad appeal. If you use high-end materials in a low-end neighborhood, there’s a chance the full value won’t be realized. Conversely, if you go with low-end materials in a high-end neighborhood, the entire property may suffer. Also, try to keep personal touches in check. You may love that pink tile, but the next homeowners may not. Always think about the resale value of your home.
3. Hire the Right People
Don’t let your renovation turn into a horror story. Start by asking family and friends to see if you can get a referral from a trusted source. If not, head online to the National Association of the Remolding Industry to find certified professionals in your area. Always look for reviews on websites like Angie’s List, Yelp, or Google and interview more than one contractor if you need to.
4. Iron out the Details before Work Starts
Make sure you and your contractor have a detailed contract. Better Homes and Gardens suggest a contract that includes “the right address, a start date, a completion date, and a detail of what is and is not going to be done.” Agreeing on the details upfront may avoid headaches down the road.
5. Create a Cushion for Your Budget
Stuff happens. You may need extra flooring, electricity may need rewired, or a surprise may lie behind that drywall. When starting a large project, have a little extra cash set aside for those “what if” scenarios. You’ll feel much more comfortable taking from a planned fund instead of dipping into savings or accumulating debt.
Buying a home that needs a little work? Check out American Financial Network’s loan programs to see if the 203(k) Rehab loan is right for you!