What To Consider When Undertaking A Home Renovation Project
Have you ever fantasized about your dream property? Browsed at paint samples, wallpaper prints, and new furniture and envisioned how they would look in your home? You are not alone. More than half of homeowners across America are planning to renovate and remodel their homes in the foreseeable future. In this article, you will find some tips and tricks to consider when undertaking a home renovation project.
While their reasons for doing so will vary between individuals, a common reason was updating and improving their homes’ health and safety factors. Another common reason was to make their home more comfortable to live in.
Renovating a home can provide an abundance of benefits to enjoy once completed. However, before enjoying those benefits, there are numerous factors to consider. These factors will help ensure that the renovation project runs as smoothly as possible to enable you to live in a house that reflects your taste. Here are some of the additional reasons you should consider renovating your home.
Benefits Of A Home Renovation Project
Updating your home can be incredibly beneficial if you have bought a house to live in or want to renovate your current space. Aside from improving the overall appearance of your property, it can also help to lower your energy costs. The list of benefits from home renovations is tempting; a few more advantages come with updating your home.
Create Dream Home
Renovating your home is ideal for creating your dream home. You can personalize the space to suit your exact taste and how you want it to look. You could add additional rooms and extend areas if you wish the property to have more space. Alongside this, a home renovation project is the chance to make your new home more comfortable and functional. It can create the house you have always dreamed of having, and you can enjoy being in it and lives up to its fullest potential.
Increase Property Value
An excellent benefit of home renovation projects is the increased value to the property. Any upgrades made to the layout or size of the house and the building materials used can all make a noticeable difference to the resale value. If you stay in the property after it has been renovated, you will be living in a house that has been tailored specifically for you. If you were to sell it after renovation work has been completed, you would benefit from the possible profit made by the increased property value. Both outcomes are beneficial to you.
Increase Living Spaces
A common factor of most home renovation projects is incorporating more space. The house might be reasonably sized, but it could benefit from additional rooms. Adding more space to your new home is an excellent way to utilize all areas in the house and increase the property’s value. It could be transforming the attic into another room or renovating the basement into additional space. Either conversion could help improve the property’s value should you resell in the future.
Factors To Consider Before You Start
Renovating a house can be an exciting time. The prospect of transforming a property into a new and improved space can cause imaginations to run wild. However, home renovation mistakes can be easily made despite being avoidable. Consider a few factors to make renovating a house as smooth as possible and avoid errors.
1. Set Your Budget
Before starting, set yourself a budget for the whole project. After identifying your funding for the project, decide how that money will be invested. Break down the renovation process into sections to determine how much will be invested in which areas. For example, set a limit for how much should be spent on building materials. If you are extending the property, work out how much it will cost and budget accordingly.
Setting yourself a budget before you begin the process will help to ensure that you are not overspending. In addition, it will enable you to renovate your home without putting yourself in an unfortunate financial situation, one that could see you living in a property with semi-completed rooms.
2. Have A Building Survey
Consider investing in a building survey if you extend rooms to your home or convert attics or basements. The inspector completing the survey can identify areas that may prevent you from completing specific renovation projects and what might cost you additional money to repair.
Should you decide to resell the home, a building survey on hand could be beneficial. It might help speed up the process as the survey can show buyers an insight into the house’s structure.
3. Decide A Timeframe
Renovation projects will likely take longer to complete than you might have expected. As you prepare to begin the process, ensure that your timeline can accommodate unforeseen issues that are likely to arise. Removing old fixtures might take a few hours to complete if you update a bathroom. However, finding a new toilet, bath or shower could take longer and then weeks to arrive. Before you have the existing materials removed from the property, ensure that you have selected all updates and understand what will be replacing items being removed.
4. Prepare For The Unexpected
It isn’t easy to be entirely sure about how a renovation project will go. Along the way, there might be issues not considered, areas that need more funds than planned, and delays in delivering materials.
Creating a detailed plan with realistic timelines and a budget accommodating to unforeseen expenses will help you control the project. Preparing for the unexpected is one of the best ways to approach a home renovation project, as it can help reduce the number of issues to resolve.
5. Think Of The Future
If you are looking at buying a house to renovate, consider the future salability of the property. Before purchasing a home, see how long the property has been on the market. It can provide a glimpse of what to expect when selling the property.
Additionally, think about the popularity of the property. Look for areas showing promising signs of being desirable places to live. One state that is becoming a popular spot for real estate is North Carolina. This trend is expected to continue in the years to come. Many investors and first-time buyers are taking advantage of the affordable homes for sale. For instance, if you are looking for real estate in Asheville, consider working with real estate agents, such as EZ Home Search, to help you find an ideal property to renovate. You can find a property in an area that is expected to be highly desirable in the future, one that could potentially see a profit when you sell the newly renovated house.
Renovating a home is an exciting process. To transform a property into the house of your dreams is a goal many aspire to achieve. It enables you to leave your mark on a home, designing it to fulfill your needs and reflect your personality and taste.
A house is one of the most significant investments you will make in your life. As such, treat your home to an updated look. The result will not only be aesthetically pleasing, but you will also notice an improvement in your life. It could be the lower energy bills after installing energy-efficient appliances or being in a property you consider yours forever home. Home renovation projects are a unique experience, and you will enjoy the final result.