Are you ready to put your dream renovation to work? Here are four tips to share to help make that dream a reality.
The cost of renovations in the US ranges from approximately $19,800 to $73,200, depending on a home’s size, the quality of materials, and the appliances used. If you are making structural changes to your layout or fixing major damage, then your total cost can be higher, but even renovating a kitchen alone can set you back over $10,000 minimum. So how can you keep costs down while giving your home a more appealing look and enhancing its comfort, efficiency, and sustainability?
Making Your Dream Renovation a Reality
1. Creating a Budget
One of the most important steps involved in undertaking a renovation is setting a realistic budget. Obtain information from various sources regarding costs—including family and friends and various home renovators in your area. When obtaining your estimate from these companies, try to receive as detailed information as possible, with more than one estimate provided. These documents should include specifics on materials and appliances so you can make a decision after researching each option thoroughly. Once you decide on a supplier, it’s to consider how you will finance your project. If you don’t have savings set aside, financing experts thehomeloanexpert.com recommend requesting more than one potential solution from your prospective financial providers. You can look at arrangements such as adjustable-rate mortgages, bank statement mortgages, a cash-out refinance, or a conventional loan, depending on your employment situation and your financial state.
2. Considering an Integrated Design and Building Company
If you will be enlisting the help of an interior designer, consider relying on a company that specializes in turnkey projects. Interior designers with access to reliable builders, engineers, flooring specialists, and the like, will be able to deliver your project in a timely fashion and will have a wide range of suppliers to deal with if one should fail. If you assign different parts of your renovation to different companies, a company that lets you down could delay the entire project and significantly extend your completion date.
3. Select Appliances, Materials, and Finishes Early
Don’t wait to select key materials for your renovation. By choosing all materials (down to the last kitchen tile, light fixture, or dishwasher), you can ensure that you stick to your budget and that you can work to a tighter schedule. Selecting appliances early will also give you time to conduct due research into different appliance types. For areas such as the kitchen and laundry, go for ENERGY STAR appliances. According to the Department of Energy, you can use 15% less energy just by using an ENERGY STAR fridge.
4. Keeping Sustainability in Mind
Keeping Sustainability in Mind
If you are going for a whole-house renovation, consider adding sustainability features that will stand you in good stead in the long term. Solar panels are a considerable investment but they save you almost $1,400 per year and they end up paying for themselves within six to 10 years. Additional features to consider if eco-friendliness is a value you treasure are sustainable flooring and furniture, natural light, natural ventilation, and a permaculture garden to save on water usage.
Renovating a home is nearly always a major investment. To ensure your next project goes smoothly, create a watertight budget and make sure you deal with a responsible company that can deliver what they promise in time. Order materials early to keep your project on schedule and consider imbuing your home with sustainability features to save on cost and to do your share for the environment.
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