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).
- How to Make Money on Your Demolition
- Remodeling Instead of Moving, and How to Pay for It
- Growing Your Family, Growing Your Home: How a HELOC Can Help Pay for a Renovation
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.
- 5 Questions to Ask Before Doing a Major Home Renovation
- The Best (and Worst) Home Improvements to Add Value to Your Home
- Keeping Up with the Joneses: Why Your Home Improvements Shouldn't Overshadow Your Neighbors'
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.
- Before You Fix Up the Fixer Upper
- Your HOA Turned Down Your Home Improvement Project. Now What?
- Welcoming Baby: How Much More Space Will You Need?
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.
- 13 Things to Ask Before Hiring a Contractor
- 5 Questions to Ask Before Renovating Your Historic Home
- Remodeling? Don't Skip the Permit
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.
- Big Project? When to DIY and When to Call a Professional
- Is Your Home Improvement Covered by Your Homeowner's Insurance?
- 6 Jobs that Are Harder to DIY than You Think
Ready to get started? Check out our renovation and remodeling blog to explore other related topics.
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