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3 Tips for a Successful Home Remodel Project
Do you ever watch those home improvement shows and wish they would jump out of the screen and fix up your house? Maybe you’ve been inspired by a kitchen, bathroom or yard remodel but were left thinking “only in my dreams”. Home ownership, as you may well know, is an investment. And with a little planning, budgeting and patience, you can make that dream remodel a reality! Here’s some tips we’ve put together to get you started:
1. Make your plan. Decide if you can afford to update your whole house or just one room at a time. Then start with the least expensive room and write down exactly what you envision. Decide if you want to hire a contractor or go the “Do It Yourself” route.
2. Budget like a boss. First decide what you are willing to spend on this project. Then, if you’re hiring a contractor, set up an appointment to get an estimate (many will do this for free). After you get an estimate, you can determine where you need to make cuts in order to avoid going over your budget. If DIY is more your style, you’ll need to look at the cost for all the materials and the equipment you’ll need to purchase. As with any home project, give yourself a little cushion in the budget for those inevitable unexpected expenses.
3. Finance with peace-of-mind. You may have saved up for a project of this magnitude, and that is the recommended way to go. But if you haven’t, or if the project is just a little more than you have in your savings, you’ll need to seek out support. Don’t be scared to take out a loan. Whether it’s a Home Equity or a Personal Loan, a credit union loan officer can look at your plans and set up a payment schedule that works for your budget.
Other helpful tips:
Consider “green” purchases. Some utility companies offer discounts or credits if you are using energy saving appliances or materials in your home.
Resell value. Eventually you may want to sell your home. As you make decisions for your home update, take steps to insure you are increasing the value of your home, not decreasing it.
Be patient. Take your time and make smart decisions that will save you money over time, while adding value to your home. Your budget may only allow for one room renovation at a time and that’s okay. Sticking to your budget will save you from financial headaches and heartache in the long run.
Ready to take the plunge and start your home makeover? Give us a call and we’ll be happy to provide you with some money saving options!
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