As homeowners, you and your family aspire to live in your dream house. But your house may have probably been old and outdated for years. When confronted with this problem, you must give it a major overhaul—have a home renovation project.
However, don’t just pursue a home renovation at a snap of a finger. There are a few considerations to make in ensuring it will be as successful as possible. Fret not, here are five key factors to consider when looking to renovate your house:
1. Home Vision
A home renovation project all starts with a home vision. As you take a look at your house, you want to give it a total makeover. Here are some home visions you’ll probably have in mind:
- Interior Facelift: If your house interior looks dull and dilapidated, it’s time to boost its aesthetics and functionality. Install carpet flooring, employ the minimalist design in your storage, and have open shelving or cabinetry. These are just a few examples of home improvement projects you can pursue.
- Exterior Revamp: When it comes to your house exterior, it’s all about enhancing the curb appeal of your residential property. That said, consider repainting your house walls, installing a deck and patio, or even building a sidewalk or walkway. Of course, you call the shots.
- Kitchen Renovation: As it is the heart of your home, you’ll want to kick your kitchen up a nudge. When doing so, always have your kitchen’s safety in mind for cooking and preparation. Its functionality and visual appeal only come in next. As a few examples, install a marble countertop or have a kitchen island.
- Bathroom Renovation: Since your bathroom is the most used and abused, it’s fair to renovate it from time to time. Start by thinking of what particular theme you’d like to have for a bathroom. You’ll probably want a Zen-like space, so consider installing a freestanding tub and incorporating calming designs.
2. Finance and Budget
Budget is considered one of the most important factors in your home renovation project. In fact, the best way to start is to have a reserve fund or savings exclusively for this home project. This determines the direction of your renovation and the extent of your project.
However, you have several options if you don’t have the financial means. First, you can get a renovation loan from Federal Housing Administration (FHA) 203(k) or Fannie Mae HomeStyle. If you have good credit or enough equity, consider a home equity line of credit (HELOC), particularly if you’re looking to pursue several home improvement projects. Other options include a cash-out refinance (for major renovation), 401(k) loan (for urgent home repairs), and personal loan (for small projects).
3. Material Supplies
Once you’ve decided on your renovation project and set a budget for it, you now proceed with the next step—material acquisition. When choosing your construction materials, strike a balance between quality and affordability. This means that you must opt for quality materials without hurting your pocket. However, don’t settle for the cheapest pricing for your materials.
It’s best to look for a trusted industrial metal supply manufacturer to ensure material quality. Metals such as wrought iron, aluminum, brass, steel, and stainless steel are best for your handrails, staircases, windows, ceiling, and roof. Also, obtain your wood pieces from a reliable timber supplier for your doors, window frames, and furniture pieces. As for your kitchen and bathroom fixtures, source them from a trusted manufacturer.
4. DIY vs. Expert Contractors
When it comes to a home renovation project, you have two routes—perform DIY or hire a reliable contractor. The former is feasible if you have the construction knowledge, skills, and expertise. The latter is your best approach if you want to ensure the project’s overall success. In fact, you’ll reduce the stress involved in your remodeling project by performing due diligence and selecting the right contractor. Here are a few steps to take when looking for the right contractor:
- Sit down and plan your project.
- Get referrals (from family, friends, neighbors, and even real estate professionals).
- Interview some worthy prospects.
- Check the contractor’s credentials (industry background and experiences, license and insurance, professional associations, and areas of expertise).
- Obtain written quotes and contracts.
- Check online reviews and get feedback from past clients.
With all these in mind, you’ll end up making the right decision and hire the right contractor.
A home renovation project can be financially challenging, time-consuming, and laborious. But by considering the key factors outlined above, you’ll set your home project in the right direction. Not only will this renovation boost your home’s aesthetic and functional values, but it will also increase the overall value of your property.