The key to renovating your house is to plan the entire process effectively. Discover everything from finding the right builder to financing your project in this ultimate guide to renovating your home.
- Get to know your choices
Before you decide to renovate your home, know that you have other choices. You can move or demolish and rebuild. You can even buy a new house, too, but all of this comes down on your preference and budget.
- Decide what you need and want in your home renovation
A renovation is a matter of choices. Make sure that you know what you want and need in a home. Undoubtedly, we all have a dream home since we’re young. Maybe, you can finally have that long-awaited home of yours. You can also get inspiration from magazines and websites like Pinterest.
Here’s a good idea: Make a list. To build a clear vision of your home, list the things you want and need in your new home. Also, take into consideration the survey report (if you ever invest in one). It will help you achieve a better renovation more than you think.
You can also ask for an expert’s advice on making your list. The rule of the thumb is to invest in the structure of your house, the wiring, plumbing, and insulation. It makes a good foundation for your renovation project.
While it is more enjoyable to renovate the interiors and rooms, it is more practical to set your budget first in the structure of your house. Here’s a quick list of what you can renovate:
- Major building work
- Painting & decoration
- Electrics & plumbing
- Know your budget
While we rather renovate our home to the fullest, the truth is we all have a budget to follow. Before you get too carried away, make sure your budget is made.
First, establish exactly how much you’re willing to spend. This will help you sharpen and anticipate the result of the project. Expect you need to shell out to:
- Build costs: Demolition, construction, such as structural work (roofing, tiling, etc)
- Prime cost: Items that have not been decided on yet, but which you have control over, such as windows, doors, kitchen
- Contingency fund: Unforeseen costs such as for repair and rising prices
- Fees and contributions: Professional fees, regulation fees, etc
While some of us can finance the renovation project in cold cash, some of us lean into the accessibility of loans and mortgages.
You can look into your mortgage plans. There may be a better financial benefit when you apply for refinancing. You can cash out on some of your home’s equity when you need a large sum of money. Crediful advises that refinancing can be the right move for you when you’re going for a home renovation. They added that you can still get approved for a new home loan, regardless of your credit score.
If you don’t want to borrow against your home, take the time to consider traditional bank loans or credit card loans.
- Research about building regulations
It is crucial that you understand how the building regulatory system works. Each country has their own regulations. All the same, you need to look into it as it is important in starting your project. You can seek your builder’s help to get approval.
- Hire the best builder
Researching can be the practice when you’re finding the right builder for your renovation.
But first, take your own abilities into consideration. DIY renovation projects are all the rage now and it is with good reason. Thousands of videos online can help and teach people to do the project on their own. Plus, you can sometimes save money by tackling this on your own.
But of course, know your limit. While you can certainly do a good job in painting and installing a new door, doing the structural work is a different matter. This is where the professional builder comes into the scene.
Get recommendations from friends and relatives. You can also do your research online. Always take the time to meet them face-to-face and ask for portfolios. You can also ask them for references, then call three or four of their past clients.