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Home renovations can seem like a massive task, especially if you’ve never done it before. But with the right knowledge and preparation, home renovations can be a rewarding experience that will improve the quality of life in your home. This guide from Porter Real Estate will walk you through the basics of home renovations and provide you with tips and tricks to make your renovation project a success.

Why consider a home renovation

Home renovations come with both advantages and disadvantages. The main upside is that it can significantly increase the value of the property and make it more attractive to potential buyers in the future. On the other hand, renovating your home often requires a significant investment in time and money, which may not pay off in the short term. It’s important to understand these pros and cons before starting any renovation project so that you are prepared for any unexpected costs or delays.

Home remodels worth exploring

There are many types of remodelling projects that you can undertake for your home. Among the most popular is renovating a kitchen or bathroom, which typically involves replacing outdated fixtures, cabinets, countertops, flooring, appliances, etc. Other forms of remodelling include adding new rooms or expanding existing ones, replacing windows or doors, updating exterior siding, installing new lighting, landscaping, painting, etc.

Working with contractors

When considering a remodelling project, research local contractors and their reviews from past customers before committing. Most contractors are focusing on construction takeoffs and estimating software to accurately estimate costs and receive online payments for their renovations.

 

Using programs and apps is a great way to manage expenditures during the entire construction process, as they provide you with continual updates on progress being made throughout each stage. This keeps you informed on any changes or adjustments that need to be made in order to remain on budget.

Funding your home renovation

If you don’t have enough money saved up to cover costs associated with your renovation project, then you should consider applying for a home improvement loan. These loans are designed specifically to help homeowners finance renovation projects by providing them with low-interest financing options over longer repayment periods than traditional loans. Before applying for any type of loan it’s important to understand terms and conditions, as well as research different lenders to ensure you get the best rate possible.

Your project timeline

Establishing expectations ahead of time is critical for successful construction projects. This establishes a timeline and ensures all parties have a clear understanding of completion dates and cost estimates. By utilizing a contractor's project goals and objectives, deadlines can be set, deliverables can be timed, and budgets can be tracked.

Being organized throughout the process

Digitizing receipts and documents associated with your renovation project is essential for staying organized during the process. There are online tools available today that can streamline this process, which allows users to scan receipts directly from devices into an easily accessible cloud storage system. Organizing digital files into folders labeled according to each step in your project timeline will keep everything organized during construction, so nothing gets lost along the way. 

Protect your investment

Securing a home warranty after completing any major home renovations is beneficial as it can provide homeowners with peace of mind, knowing that they are covered against hidden problems or damages that may arise in the future. This protection will ensure that your investment is protected from the unexpected.

 

Taking on any form of remodelling project comes with its own set of challenges but also rewards when done properly. By understanding these basics about remodelling, you can better prepare yourself for taking on the project confidently. Furthermore, investing in a home warranty after completion ensures peace of mind knowing they won't be left paying out-of-pocket should something go wrong post-renovation.

 

Credit: Aimee Lyons, DIYDarlin.com