You may love living in your Nanaimo home. However, if you are like many homeowners, you may have gradually realized that your home’s layout and design are becoming decreasingly functional for your needs. With each passing month, the décor may feel more outdated. Renovating your Nanaimo home is a wonderful way to improve the look and function of your space without having to go through the expensive hassle of relocating. Because this is such a major undertaking that has huge implications on your life and your finances, a closer look at what is involved in a home renovation is a great starting point.

Getting a Rough Idea

If you have no previous experience with renovating homes, understanding a few simple facts helps you gain a sound idea about what the renovation will cost and how long it might take. To provide you with a very rough idea, a kitchen renovation ranges from about $10,000 to $50,000 or more. You can see that this is a huge variation. Timing variations may span from one to two weeks on the lower end to more than a month on the higher end.

Factors that affect the timing and the cost include the size of the space, the finishes and materials that are used, the need for major structural or infrastructural changes and more. The structural and infrastructural changes are based on your design plans. Therefore, the easiest ways to control the cost of your project are to choose more affordable materials and finishes, to avoid major structural changes when designing your new space and scale back the amount of space you are renovating.

Finding Renovation Funds

Now that you have a very rough idea about what it may cost to renovate your Nanaimo home, take a look at your financial plan. Understanding how much you are comfortable spending and where the money is coming from helps you determine if the project is feasible. It also gives you the information necessary to develop your design plan. Paying for the renovations might involve tapping into savings, taking advantage of bank loans, a mortgage refinance or a home equity loan. You do not have to use all of the money available to you. You simply need to understand how much money you have to work with.

Photo by Alair Homes Edmonton – Search living room design ideas

Exploring Ideas for Your Home

The next step is to consult with a general contractor. Ask for an itemized estimate for the full design plan that you have in mind. You can compare this estimate against your budget and adjust your design ideas if necessary. Changing materials or scaling back your ideas to cover less space in your home are some of the easiest ways to save money when renovating your home.

Renovating your Nanaimo home has huge implications for your life. This project affects your finances, your home’s equity, how functional your space is, how easy it is to sell in the future and much more. You cannot take chances with low-quality workmanship when it comes to the completion of this important task. If you are thinking about renovating your home soon, reach out to the professionals at Alair Homes Nanaimo for assistance.