Getting Started: Renovation and Remodeling

Are you thinking about doing something new in your old space? Are you ready to start making your home the perfect place for you and your family? Read on to find out how to get started.

How can you pay for your renovations?

Cash works, of course, but there are other good options to explore. Talk to your bank to explore possible loan options. If you have a significant amount of equity in your home already, you may be able to pay for the renovations with a home equity line of credit (HELOC).

Will your renovations add value to your home?

It’s important to find out what renovations do and don’t add value to your home, and that information is specific to the area where you live. There are calculators online to estimate value added, but your best bet is to ask a real estate agent or appraiser in your area what they think. Regardless of how your renovation increases the market value of your home, if it increases your happiness, it might be worth it to you.

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How much will your project really cost?

Before you start, sit down with your contractor (or a pen and a piece of paper, if you’re doing it yourself), and tally the costs of all labor and materials. You should also account for any fees for permits or disposal, and any money you might have to spend while the renovation is underway. If you’re redoing the kitchen, for example, you may need to budget for restaurant meals until it’s finished.

How can you find a contractor?

Often, the best way to find someone for the job is by word of mouth. Read online reviews, but ask neighbors, friends, and co-workers who they’ve hired and how their renovation went. Make sure your contractor is licensed because you want to follow the rules.

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What if you want to DIY?

Before you DIY, make sure you can do the work yourself, and that you can afford to hire qualified professionals to do the things you can’t. You’ll also want to make sure all of your work is up to local code.

Ready to get started? Check out our renovation and remodeling blog to explore other related topics.

Have more questions? Ask us directly on social media!