Home Renovations 101: Understanding the Basics
Home Renovations 101: Understanding the Basics
Are you looking to update your home? Perhaps you want to add a room or two or remodel your bathroom for better accessibility. Whatever the case may be, home renovations can be exciting and overwhelming all at once. With the right planning and understanding of the basics, you can make sure that your home renovations are successful. Use this advice from KDM Real Estate to help you have a successful home renovation.
The Pros and Cons of Home Renovations
Renovating your home is an investment in both money and time. On one hand, it adds value to your home and increases its marketability. On the other hand, it can also result in disruption to your living space and unexpected expenses. Before embarking on any type of major renovation project, consider the pros and cons carefully.
Common Types of Remodels
Remodeling projects can range from adding a small home office to completely transforming a kitchen. Depending on what you’re looking for, many different types of remodels can be done to improve the functionality of your home. Common remodeling projects include adding a bathroom, renovating a kitchen or living room, or adding an extra bedroom for guests
Applying for Home Improvement Loans
If you need additional financial assistance with the cost of your renovation project, consider applying for a home improvement loan. This type of loan is specifically designed to help finance major renovations as well as smaller repairs around the house. Before applying for a loan, make sure to shop around so that you get the best interest rate possible.
Organizing Receipts and Documents Digitally
When renovating your home, it’s important to keep track of all receipts and documents related to your project. Keeping everything organized digitally will make it easier when filing taxes down the road or if you ever need proof that certain renovations were done on the property in question. Investing in cloud storage is an easy way to keep all these documents safe just in case something happens at home such as fire or theft.
Working with Reputable Contractors
When selecting contractors for your renovation project, always do thorough research beforehand so that you are working with someone reputable and trustworthy. This is an important step not only because they will be doing work on your most valuable asset, but also because they will have access to personal items within it. Be sure to check reviews online before signing any contracts or agreements with contractors or subcontractors who will be working onsite at any point during the renovation process.
Setting Expectations with a Timeline
Having realistic expectations about how long it will take for certain tasks within a renovation project is important both financially and emotionally, especially if you plan on living in the residence while work is being done. Make sure that contractors provide timelines so that everyone involved knows what needs to be done throughout each stage of the construction/renovation process.
Digital Contracting Tools
Home contractor estimating software and apps are revolutionizing the way contractors do business. By using these tools, contractors can save countless hours and create highly detailed estimates quickly and accurately. This helps to streamline the contracting process, allowing contractors to focus their efforts on the quality of their work while remaining competitive in the market. For example, this software may be of benefit to HVAC contractors (click for more info on how this technology works). From scaling up quickly when demand increases to managing small jobs with ease, home contractor estimating software and apps provide a great deal of flexibility for businesses of all sizes. With this powerful technology at their fingertips, contractors can easily remain organized and efficient with minimal effort required on their part.
Investing in Home Warranty Coverage
Once construction/renovation projects are completed (and all contractors leave), investing in warranty coverage should be considered, especially if any new appliances were installed during renovations (e.g., HVAC units). Home warranties are great investments because they cover unexpected repairs due to wear and tear over time, which could save thousands down the line. Plus, many lenders require them before approving mortgages, so even if homeowners aren’t interested in purchasing one themselves initially, they may end up having no choice eventually.
Home renovations don’t have to be intimidating. By understanding some basic tips and tricks before embarking on any type of major remodeling project — such as researching contractors before hiring anyone and organizing receipts digitally — homeowners can ensure their overall experience goes smoothly through every step.
Are you in the market for a new home or looking to sell a remodeled home? Contact the KDM Real Estate team!
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