Renovating or remodeling the home is a great way to keep it updated, at the same time, increasing its livability and value. A renovation can be an easy and stress-free experience if carefully planned.
Here’s a helpful guide on home renovation:
Know the reason for renovating
Different reasons for renovating require a different approach and budget plan. For example, a renovation to maintain the home could mean updating the plumbing, electrical work, appliances, and some design elements that might have become dated. For this type of project, the majority of the budget will go to contractors, electricians, and plumbers.
When renovating a home to prepare it for sale, consider projects with good returns on investment. The most popular home renovations are kitchen and bathroom remodels that recoup an average cost of 50% to 60% in the region. A large portion of the budget for this project will go to materials and appliances.
Don’t renovate just for the sake of keeping up with the latest trends. Always keep in mind the house’s original style and architecture so that the renovation won’t feel out of place.
Create a plan
Once the reason for renovating is clear, it is time to prepare a plan of action. When renovating with the intention of selling a home, the aim should be to maximize the return on investment. In the Arizona region, renovations with the biggest resale value are master suite additions, kitchen remodels, and bathroom additions.
Major renovations like the ones stated above are easier managed if broken down into phases. Done all at once, things could become more complicated and overwhelming for the homeowner.
Meanwhile, renovations to improve the home’s efficiency and livability may entail installation of energy saving appliances and insulation.
Figure out the budget
Get quotes from three or more professionals to ensure you get the best deal possible. Then have a buffer of 10% to 20% to the overall budget in case any unexpected costs arise.
For major renovations that require more work, it’s best to separate each cost. A full kitchen remodel, for instance, can be divided into the cost of tiling, appliances, furniture, and the like. It is also helpful to divide the budget between those for functionality and those for décor.
Hire the right contractor
Getting the right contractor for the job is one of the most crucial factors when it comes to home renovation. A good contractor will help make the whole process run as smoothly as possible with little to no delay. Go online and visit their website to learn more about them and to read reviews and testimonials.
Once a contractor has been chosen, draft a contract that clearly outlines the responsibilities of both the contractor or contracting company and the homeowner/s. A renovation contract should include the following:
- Scope of work
- Time frame
- Terms of payment
- Possible variations to the original plan
Licensed builders will be fine with accommodating any changes to the plan, but it’s always best to consult the contract beforehand.
Get the proper permits and approvals
Securing the right permits from municipalities is important for safety reasons and to avoid any legal liability. Have the contractor check the city’s latest regulations and inspection rules. Here are the different permits and the procedures in the City of Scottsdale and City of Phoenix.
For those living in an area with a Homeowners’ Association, get the approval of the council first before starting any exterior work on the home.
For the best advice about home renovations, get in touch with The Kimberly Lowe Group, a team of expert Arizona real estate agents, today. Give them a call at 480-363-1622 or send a message to sold(at)thekimberlylowegroup(dotted)com.