Are you thinking about renovating your Delta area home soon? If you live in your home long enough, you may eventually find that its style is outdated, and its layout or functionality is no longer desirable. When this happens, your two primary options are to move or to renovate. Moving can be stress, expensive and uncertain. After all, you may not love your new neighbors or your new neighborhood. Renovating is usually more affordable and convenient, and there are no uncertainties related to your living situation. Before you decide to remain in your home and renovate it, you need more information. How much will a renovation cost, and how long will it take? At Alair Homes Delta, we are ready to discuss home improvement and updating plans with you so that you can make a smart decision about your home.
How Much Money Do You Need to Renovate?
If you are like many other Delta residents who are thinking about renovating, you may be taking a closer look at your bank account balance and wondering how you will afford to renovate your home. While some homeowners pay for a renovation with cash in their bank account, many will use their home’s equity to pay for renovations. There are several ways to access your equity. The options include a HELOC, a home equity loan and a cash-out refinance loan. The best way to learn how much equity you can pull out of your home is to contact a mortgage specialist. When you take this step up-front, you can proceed more confidently with the planning process.
How Do You Plan for Renovations?
Many homeowners who are interested in renovating have never completed this type of project before. It can be intimidating to make huge plans to change your residence, but the right contractors will guide you every step of the way. Before you contact a contractor, you should have a solid idea about what you want to accomplish. The contractor can then provide you with accurate information about the cost and the time involved. Commonly, homeowners will request multiple quotes in an effort to potentially save money. While staying on budget is important, the overall quality of your home after the project is complete is more important. Focus on the experience and skills of contractors before paying attention to cost.
How Do You Know If Your Quotes Are Competitive?
With several contractor quotes in hand, you may be comparing the time and cost estimates closely. If you are wondering how competitive the quotes are, you are in good company. Comparing multiple quotes is always a smart idea, but it is also helpful if you know more about average renovation costs. For example, installing a spa bathroom in your home may cost $26,000, but a lower-end remodel may cost $10,000 or less. The size of the room, the types of features and the materials used can all play a major role in the overall cost of your specific project.
While you may have a strong attachment to your home, there may be many things about it that are bothersome. Through thoughtful renovations, you can transform the space so that you love everything about it. Contact Alair Homes Delta for more information about what it takes to renovate your home.