Owning a home is a luxury that not everybody has. For one, it can be pretty expensive, and it’s also a lot of work. However, the feeling of knowing that the roof over your head belongs to you can be an exhilarating feeling for many. You’re likely reading this article because you happen to own a home and have been seriously thinking about doing some renovations. Perhaps you aren’t sure exactly where to start and also need some guidance while renovating. Whatever the case, you should find this article somewhat useful as it aims to list a few renovation tips that every homeowner should consider.
Decide Whether it’s Worth Renovating
Before starting any renovations on your home, you should first decide whether it’s worth it. After looking around the house, you may realize that renovating to your taste is going to cost a considerable amount and that you’d rather move into somewhere new. A few signs that it may be time to sell your home include not feeling enthusiastic about repairs because you really don’t want the house or finding that maintaining the home is causing you to spend more than you’re likely to get back in return. If this is the case, it may be better to learn more about selling your home instead of renovating. If the issue is simply that you aren’t ready or can’t afford to renovate, then perhaps leave it till later time if none of the renovations are urgent matters.
If you are certain that renovating is the way forward, then your next step should be to set a budget. Renovations on your home can easily run up a bill, so you want to set a budget and determine how much you can spend beforehand. When creating a budget, one of the first things that you want to do is take a detailed look at the current state of your expenses. Evaluate how much you happen to be spending presently, and see how much you have left over after these core expenses come out. This will give you an indication of how much extra you have to spend on renovations and what your limit should be. If you find that it isn’t enough to accomplish what you want to do, consider cutting down on expenses such as leisure, entertainment, eating out, and anything else that is not a necessary expense. Some other tips for stretching your budget include effectively communicating with your contractor to ensure you stay within your budget, being willing to compromise, and combining projects to cut costs where you can.
Choose Renovations That Add Value
Another useful tip that you should think about taking on board as a homeowner is choosing renovations that add value to your property. You likely already know that not every renovation is valuable, so take your time to look around your home and ensure that any changes you make will guarantee a return in profit. Some of the best renovations to add value to your property include changing your color scheme especially before putting it on the market, taking care of your lawn by landscaping, looking for ways to preserve energy such as by insulating your home or replacing old windows to newer energy efficient ones. You should note, however, that a full window replacement can be pricey and isn’t always necessary especially if it’s only the glass that is damaged and the frame is perfectly fine. You should also think about changing the fixtures in your house, installing hardwood floors, as well as adding curb appeal as well. By opting for renovations that add value, you should find that when you’re ready to sell, your home is worth much more.
Don’t DIY Everything
In addition to the mentioned, choosing not to DIY absolutely every renovation is something else to think about. The reality is that in as much as you may be trying to reduce costs by doing so if you make major mistakes, you could end up spending tons of money fixing them. You should, therefore, take a look at the renovations that you want to make and decide which you can certainly handle and which you’d rather leave to the professionals such as rewiring, for instance. Some DIY home renovations include painting, demolition, tilework, upgrading hardware, and fixture installation. However, before jumping in, try and get as much information regarding how to go about it first, especially if you’ve never done it before. As mentioned earlier, if you aren’t sure of your capabilities and have a feeling that it may be a disaster, perhaps consider outsourcing instead.
Hire the Right Team
Like mentioned above, there are likely some renovations you will need on your home that you cannot do yourself. For such renovations, it may be best that you hire a team. It is imperative that you choose the right people for the job if you want your renovation project to come out successfully. Some tips for finding the right team include checking their portfolio to see former work that they’ve done, asking for references, being very specific about your expectations, taking the time to look around, and making sure that you get everything down on paper. If you don’t want to end up disappointed or having to look for someone to redo the renovations, you should definitely ensure that the people you award the contracts to are capable of delivering to your standard. By doing so, you should find that you’re satisfied and happy once the job is done.
Owning and managing a home is a responsibility on its own. It is, therefore, key that you take the time out every so often to renovate your home and make sure it appreciates in value. It won’t always be cheap, however. The key is in ensuring that you’re making a return on your investment. By doing so, you should find that most of the renovations you make are worth it, especially if you end up selling your home one day.
- Technology11 months ago
The Future Is Now: 9 of 2019’s Most Spectacular Home Automation Upgrades
- Management7 months ago
Top 7 Reasons Why You Should Hire a Property Manager
- Investment1 year ago
Investors Compare Residential To Commercial Property
- Buy9 months ago
Who Is The Real Estate Agent Working For?
- Management7 months ago
Healthy Homes For All!
- Legal1 year ago
How to Deal with Tree-Related Neighbour Disputes in Australia
- Investment2 years ago
AirBnB Your Rental Property Is It Worth It?
- Investment2 years ago
What Do Landlords Fear Most?
- Investment9 months ago
Toughest Rentals Rules, Landlords on Notice
- Investment8 months ago
Should You Start Investing in Rental Real Estate?