Home renovation is both fun and risky at the same time. This is because on one hand, you have this thrill of giving your safe haven a new makeover, and on the other hand, you have to be careful so that you don’t end up spending more money than necessary or damage a portion of your house.
A lot of people tend to oversimplify home renovation and proceed without any concrete plan. This can be a recipe for a disaster. So, to avoid making a mess of your budget and the house, be sure to take care of the following:
Before you get started with the renovation, it’s important that you go over the terms and conditions of your home insurance policy. For instance, your insurance may not cover the house if the renovation project is pegged at a price higher than a certain amount, $50,000 for instance, as that may categorize your property as a building site.
You also need to check the details of contents insurance to see exactly how many of your belongings are covered and if you need additional cover. Most importantly, you are required to inform your insurer about the renovation and the changes that you have planned for your house. Failing to do so can easily void the policy.
2. DIY Vs Professional Help
There is nothing quite like fixing your home all by yourself. In fact, using an adjustable wrench to fix a leaking tap or hammering a nail into a squeaky step works like medication for some people. So, if you are a handy person yourself, then there is nothing wrong with taking care of the renovation yourself. However, if there are certain jobs that are way out of your league, such as roofing or tiling, etc. then it’s best to call in the pros. There is no point in trying to be a “one man army” if it’s going to take hours for an “alright” job.
If you don’t want to waste money and time, then you must not rush the renovation. Take your time to read about all the latest home design and decoration trends. For instance, you want to see what kind of kitchen designs, flooring, etc. are in vogue. Other things that you may want to look into include trending color accents, interior designs, etc.
Think about it- once the work has begun, you can’t reverse the changes. So, it’s wise to have a clear idea of what you are looking for before you give the green signal.
When creating a home remodeling budget, there are various costs that you need to consider which include the materials, labor, fixtures, etc. However, don’t assume that these estimated expenses are going to be final. It’s quite common for new costs to become apparent in home renovation projects when the actual work begins. For instance, repairing walls can create all kinds of wiring or plumbing disasters which can lead to extra work. Similarly, there can be last-minute changes which can inflate the costs. So, it’s recommended that you increase your budget by 10% to 20% before getting started.
If the renovation project is going to involve a lot of work, then you may need to find a contractor who may hire subcontractors to take care of specialty work for you. However, you can’t just hire any contractor- you need someone who has a good reputation and promising track history. The following are the two main ways you can go about it:
- Ask friends and relatives for references. If any of them have had a home renovation done recently, then they might be able to recommend the perfect guy for the job.
- There are many websites that can also help you find the right contractor for your house. One of these is homeadvisor that has its own network of home improvement professionals. It allows you to find service providers based on your location, and compare quotes from up to 4 professionals.
Signing a contract with the contractor is a good idea because it can protect you from legal issues, and it can also show them that you mean business.
A watertight contract includes the following:
- Payment schedule: You don’t want to provide all the money in one go. Instead, you should release smaller payments after the completion of different phases of the project. You should also make a provision for holding payments until you are satisfied with the work.
- Timelines: These involve the allocation of the exact number of days for different jobs. This will ensure that the project is finished on time.
- Specifics: These are details of all the materials that are to be used and their costs, dimensions of the areas that are to be worked on, etc.
To avoid any kind of legal action resulting from home renovation, contact your local council to find out about the regulations that you should adhere to. Even if you are going to appoint a contractor or a builder, you need to make sure that they stick to the code and regulations and get approvals for the building’s extensions if necessary.
So, there you have it- some of the most important things that you should take care of in a home renovation project. Take your time, and study each one of them. Also, don’t forget to ask yourself the key questions like accessibility considerations, the maximum amount that you are able to spend, etc. Remember, you don’t renovate your house every day. So, plan everything carefully and try to pick quality over quantity.