So you're thinking about remodeling… sure, who wouldn't want an updated, upgraded and overall better living space? Whether it's adding some new fancy amenities or reconfiguring a whole new floor plan, it takes a bit of planning and thinking ahead. But where do you actually start? In this article, you can find how your vision for home additions is our mission.
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Here are some pointers to help get you on the right track for your next big renovation project.
1 – Determine what you want vs. need – List all the things you want to see changed or improved in your remodel. Then a list of all the things that need to be done. It is important when trying to budget your finances.
If you are going over budget on the project, this list will help get rid of all the things that are not important. Have a nice jetted tub in the bathroom remodel, but it is important?
2 – Set a budget and stick to it – Figure out how much you want to spend and how much has been saved. Do you need to put your next kitchen remodel at some or all of the credit cards? Might consider looking for other financing sources such as home equity loans, home improvement loans, second mortgages, etc.
Part 2 seeks to maintain the magic number. Once you determine how much you can afford, try to plan to spend about 80% of it. Anything not in the original contract will cost extra.
For example, in overhauling the roof, the roofer may find that the roof decking is not acceptable for roofing shingles, local plywood and labor costs.