Remodeling a home isn’t something to go into lightly and it’s also not a quick process, but it doesn’t have to be overwhelming if you do it right. To make a plan and save money along the way, you need a strategy. While every home remodeling project is different, there are some steps that can apply to any project to help you stay on track for success. Especially if you are thinking about selling your home soon, you’ll want to consider factors like resale value and return on investment, a realistic budget, and how you can find alternatives to high-end options.
Dream big, within reason
Chances are you are remodeling to improve dated features and maybe to also create more space in your home. You might dream of top-of-the-line appliances and hiring an interior decorator to make your home modern, but it’s key to also think realistically about your goals for your remodel while dreaming. If you are remodeling to sell, then you might want to go for updates that follow tips from real estate agents for a big impact without a huge investment — such as opting for a minor kitchen remodel with repainted cabinets, instead of tearing them out completely. As you are dreaming about the perfect light fixtures and color palettes, you’ll also want to consider cost-effective alternatives so you don’t run out of steam and cash halfway through your project. You’ll want to decide if you will pay for your renovation with credit cards, a home loan, or in cash. An online tool like a remodeling calculator can help you set a realistic budget.
Get a crew together
Unless you are truly taking a DIY approach, then you’ll need to hire a team to help you get the job done. While it will add to your budget to hire people, with the right team in place you can hopefully avoid having to do a job more than once — for example if your DIY job goes wrong and you need to hire someone to fix it, that can actually add to your budget. You may only need to hire a general contractor if your renovation doesn’t involve big structural changes. Or, you might need an architect and a designer as well as subcontractors who are hired by your general contractor. Knowing how many people you’ll be working with will help you get a realistic understanding of your budget and the timeline for your project.
Set a timeline but prepare for surprises
Once you have the big picture, you can work with your team to set a general timeline for how long the project will take. You may need to factor in permitting, as well as the time for ordering materials. Big renovation projects might even require you to move out of your home while the work is happening. Your contractor should have the experience to anticipate how long certain parts of the project might take, but keep in mind that some delays — like those caused by Covid-19 — can be unpredictable.
When it comes to remodeling, the hardest part can be getting started and putting everything in place to make your dream home a reality. With a game plan, you can walk into that home that you won’t recognize as your own, in no time.
