So you’re thinking about remodeling your house eh?
Sure, who wouldn’t want to improve their living space? And get all the new fancy amenities. Or maybe you’re thinking something bigger. Maybe you want to remodel your entire house.
If that’s what you’re thinking, then you have reached the right place. But you will first need to do a bit of planning and think ahead about how this project would unfold and what other things you might require.
Worry not my new friend, in this article we are going to cover all that and much more.
What You Want vs What You Need
This is a big one. And before you start dialing all the contractors in your area, make sure you have a list of all the things you want vs the things your house needs.
These things are different for everyone. Some people might need a new roof because the current one leaks all the time. Or maybe your house needs a new paint job. Those are important things that you cannot skip.
On the other hand, planning for a pool is something you can live without – that’s a want.
Make sure you distinguish these things before you move on to other tips.
Come Up With a Budget
This is so important.
We have noticed this over and over again and we want homeowners to come up with a budget before they even start thinking about what things they would like to include in a remodel.
You want to make sure that you can afford to have all those things at the same time. Now that’s not to say you can’t afford something, but it is much better to wait a little while longer, save up some more money and then include all the things you want to remodel rather than going into debt.
Personally, we recommend everyone to save up and then get a remodeling project started rather than taking out a home equity loan or a home improvement loan to get everything you want.
We know this isn’t our place to say, but we recommend people make smarter choices and think things through before they move forward with any type of financing.
And if you still choose to go the financing route, we have no beef with our customers. We love all of them the same. Please keep on reading 😊
Time to Start Thinking
This is the point where you’ll want to start thinking about ideas on what would be the thing for your house. This doesn’t need to be hard either, you can go to Pinterest or Houzz and see what other people have done with their houses and see what you can take from that and make it your own.
Obviously you don’t want to copy other people. You only want to take the best parts about the photos that other people have posted and customize those things according to your house and your needs.
Those 2 websites are a great place to start because then you can discuss all the other things with your home remodeling contractor.
And if you’re old school, or not computer savvy, you can take a trip to the local book store or the nearest library and see what they’ve got there in the magazines. See if you can spot some things that are trending right now and if you can include that in your house.
Be Strategic About It
This is important. You want to make sure that you are using your resources wisely.
If you plan on living in the house for less than 5 years after the remodeling project is done, then we recommend that you do not go all out on it. Just remodel enough so that it looks attractive to the buyers.
Things like adding another room to your house, or even redoing your swimming pool if you have one, you should skip those things. Of course you should make sure that your swimming pool is in proper condition.
This will also help you save some money for the next property you’re going to buy.
But if you think you are going to live here for a long time to come, then by all means, spend till your heart is satisfied. But you also need to make sure that you’re not going overboard with it.
You don’t want to spend so much that the value of your house goes above the average value of your neighborhood. That will make your neighbors angry and jealous and we don’t want that.
From a sellers perspective, there are some things that provide much better returns on investment compared to other types of remodeling. For example, kitchen and bathroom remodels will usually net you more return than if you were to invest in a swimming pool.
Now that you know our perspective on how you should proceed with a home remodeling project, it’s time to answer some of the frequently asked questions. We do this because almost every new client asks us, and so we thought why not add these questions on our website so that our visitors can also have their questions answered before they even think about it.
How much does it cost to renovate a house?
Good question. It all depends on what you’re looking for. But if you want a simple formula by which you can get an estimate of how much you can expect to spend –
$15 – $60 per square foot
Multiply that with the total square footage of your house and you’ll get a minimum and maximum range of how much you can expect to spend.
Of course this doesn’t take into account what you’re going to be remodeling in those square footage and if there are any unforeseen situations that come up.
For instance, when remodeling your kitchen, your contractor demolishes the whole kitchen and then realizes that there was a water leak in the walls from the bathroom above. That will need to be treated as soon as possible. That will significantly increase your overall cost of the remodel.
And these types of scenarios are more common than you think.
So you have to factor those things in as well when you’re coming up with a budget so you don’t end up blowing the whole budget on just an unforeseen circumstance that you didn’t expect.
And so, if you’re looking for some of the best people to handle your home remodeling project, give us a call. And while you’re at it, check out this awesome video by Graham Stephan about the top home renovation mistakes you should avoid.