If you are a fan of the home renovation shows that are popping up across the airways, you have probably considered duplicating their efforts. While renovating a home is a smart decision for many homeowners, the venture is costly and time consuming. For this reason, it is important to carefully plan a remodeling project of any size so that it gives you the end result you are hoping for and proves to be cost effective too.
Fix What Needs to be Fixed First
Anytime you are making plans to renovate, consider the things you need to fix first. While most homeowners find it a lot more satisfying to remodel a kitchen than to repair a roof, roof repairs are necessary for the longevity of your home, and fixing things that need to be repaired almost always adds instant value to your house. Even if you think your money would be better spent by refinishing the basement or adding that en suite bathroom to your master, budget to repair leaky faucets and faulty electrical outlets first, and save the major renovations for later on down the road.
Renovating a Home for Resale
Next, consider your long term plans before you renovate. This is especially important if you think there is a possibility you will not remain in your home for at least five years. Many a homeowner has made the mistake of undergoing a major renovation months before they plan to sell only to wind up upside down when they finally go under contract. Certainly there are reasons to renovate your home before you list it, but do your best to keep renovations on the small side, or gain a good knowledge of the comps in your neighborhood before proceeding. A reputable general contractor or real estate agent can help you to determine the best course of action when it comes to renovating before you sell in order to maximize your profits and minimize any losses.
Special Considerations for Major Home Renovations
If your remodeling plans include a major renovation such as adding a second story to your home or in some other way expanding the square footage, think about the necessity of such an addition. While some families really need a larger home and prefer to renovate rather than relocate, these renos are costly and time consuming. Sometimes, smaller scale home renovations can accomplish the task of creating more space while also saving you time and money. Before adding another room or expanding your home upward, walk through the space you have with a professional contractor. Ask him to make recommendations about increasing usable storage space or changing the current footprint of one or more rooms in the home to make the more usable. Sometimes, pairing a simpler renovation with some organization and de-cluttering is all it takes to turn your smaller home into one that your family can love once again.
Green Home Upgrades
Finally, whatever the size or scope of your renovation, try to go green. Adding environmentally-friendly elements into your renovation is a great way to realize both instant equity and long-term savings. This might include using recycled materials for improving insulation in a room, putting in energy-efficient appliances when renovating your kitchen, updating your HVAC system to accommodate the added square-footage in your renovated home, putting in triple paned windows or even adding solar panels when replacing your roof. If you do plan to go green when you renovate, talk to your general contractor about having an energy audit performed before you begin. Some homeowners who have paid for such an audit have received substantial rebates to help offset the costs of their renovations.
At Alair Homes Scarborough, we have plenty more home renovation cost saving tips to share with you. When working with us, you can also take advantage of our national buying power to get the best prices on the supplies, materials and sub-contractors needed for your home remodeling project. Pair this with our truly transparent way of doing business to realize the true potential of your home and a better building experience. To learn more, give us a call to schedule your free, no obligation consultation.