When you originally purchased your Red Deer home, you may have loved everything about it. Over the last few years, however, your housing needs may have changed. The style of the home may have grown increasingly outdated as well. These are common reasons why some local residents go through the hassle and expense of moving, but moving is not the only answer. In fact, it may not be the best answer. A Red Deer home renovation project lets you stay in your home while enjoying the improved practicality and style after the project has been completed. Inquiring about renovating costs and timing through Alair Homes Red Deer is a great first step to take.
Firming Up Your Budget
Before you take any steps to determine the cost and time requirements to renovate your home, focus on your financial situation. How much money is available to pay for your home improvement project? Take a closer look at your personal banking and investment accounts. In addition, analyze the amount of equity that you could pull out of your home through financing. Some of the equity financing options are a HELOC, home equity loans or cash-out refinancing options. A smart idea is to contact a mortgage lender to learn about the specific financing options that are well-suited for your situation before you spend any time planning your renovations.
Determining How Far Your Money Will Go
After you have put together a reasonable or healthy budget for your home improvement plans, your next question involves time and cost to complete your renovating plans. Decide exactly what you would like to accomplish by renovating your home. Then, locate a few reputable and trusted home contracting firms that are available to complete the work for you. Compare estimates that outline the time and cost for each project. Some people will learn that their home improvement plans are too lofty for their budget. If this is the case for you, you can tone down your renovation plans by focusing on a few rooms or by choosing less expensive materials.
Analyzing How Competitive the Quotes Are
The question about competitive and fair estimates may come to mind as you analyze the quotes that you have received recently. Understand that the cost and timing required to complete some renovation projects is greater than others because of the finishes that you have selected. Factors related to the size of your rooms, the finishes that you prefer and more all affect whether your own quotes are higher or lower than average. Reasonably, you can expect a kitchen remodel project to cost between $20,000 to $50,000 or more and to take approximately one to two months to complete. Renovating your bathroom could cost less than $10,000 and take a week to complete, or it could cost more than $25,000 and take several additional weeks to complete.
Alair Homes Red Deer is your preferred home contractor for smaller and larger home improvement projects. Regardless of the plans that you have for your home, you can count on our team to deliver impressive results that make you fall in love with your space all over again. If you are ready to get to know more about what it takes to renovate your home, reach out to our team for a quote.