How to Plan Your Next Home Renovation
With summer rapidly approaching, for many people thoughts turn to the next big home renovation idea. The better weather and longer days make it an ideal time to start thinking about home improvements that will add a touch of style to your home. Many renovations and improvements can also add value to your home which is great news if you eventually plan to sell and move up the housing ladder. When you are planning your next home renovation there are certain key elements that you must consider to ensure that the project is efficient, in line with your budget, and produces the desired improvement outcomes. In this article, some of the key considerations are discussed that will allow you to renovate effectively.
Set Your Budget
It makes little sense to decide on your dream renovations if you cannot effectively budget for them. Larger scale renovations can take longer than initially forecast and this has the knock-on effect of increasing costs. The best practice is to effectively cost all parts of the improvement and then add 20% to this value to cover any delays or price increases of components along with ensuring that any labour costs can be managed effectively. At this point in the preparations, it is also wise to decide whether you will finance all the work from savings or if you need to seek finance to cover some of the costs. If you hold significant amounts of debt or have a bad credit score it is prudent to investigate how to get a loan with high debt-to-income ratio. There are several experienced credit providers who have a wealth of experience dealing with customers in these circumstances and it could be the difference in raising capital that enables you to budget for your dream renovation.
One of the key parts of any renovation is deciding on the layouts, materials to be used, and final design touches to be incorporated to give your finished project style and flair. Not everyone is born with an innate sense of design and style, so it is ideal practice to look for inspiration through existing published designs. A reliable source of inspiration online is the Architectural Digest. This website specializes in the latest designs for a variety of projects both on a small and larger scale and can prove to be an excellent starting point to gain ideas for your project. In addition, it is good practice to visit your local DIY warehouse and see what materials and components are available in your area if you intend to do most of the work yourself.
Decide on Your Team
Whilst an increasing number of homeowners look to do smaller scale renovations on their own with a bit of DIY know-how, for larger projects it makes sense to hire professionals. Care should be taken on your choice of builder or tradesperson as this is a key deciding factor in the final quality and timescale of your project. Seek a variety of quotes from several professionals and do not necessarily choose the cheapest bid. This can be a false economy when undertaking large-scale work as “cowboy builders” often undercut the competition before delivering inferior quality workmanship and potentially causing extensive delays or even rebuilds. Seek accredited tradespeople who come well recommended from either neighbours, friends, or trusted customer review sites.
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