When you bought your house, you may have known it wasn’t exactly how you wanted it, but you could see your potential dream house within reach after a few renovations.
You’ve been saving up and now it’s finally time to start your home renovations. Where do you start? How do you make sure the project will end up how you want it to be? What if you don’t have enough money for the project you want? Will you be able to get home renovation loans?
These are all common questions and concerns that people have when considering a home renovation. It can be an equally exciting and stressful process and it helps to be as prepared as possible.
The first thing you need to do is figure out exactly what you want. This covers everything from which rooms you want to renovate to style choices and even knobs you might want to put on the cupboards.
Do some research by searching through home design blogs and magazines and window shopping at homeware stores. Print out and clip inspiration and make note of how much everything would cost.
When deciding what exactly your renovation will consist of, think about what features might add value to your home.
Outdated bathrooms and kitchens detract the most value from homes, so those are usually good places to start upgrading. Try to keep fixtures and tiling neutral colors and then add your own style flair when you decorate.
The next best way to add value to your home is by creating additional space, either by redoing a study or attic as a bedroom, or adding an extension.
Make a plan
Once you know what you want from your renovation you can make a plan. The more precise and realistic you make your plan, the best chance you have at staying on target with your time frame and budget.
Your plan should include what exactly will be done, how much you anticipate things will cost, how long each step should take, what materials you’ll need and what tradespeople will need to be involved if certain steps can’t be done DIY.
Now that you’ve planned out your project in detail it’s time to do a little more research. While your first round of research focused on design and style, this research is more on the practical side.
If you’re doing parts of the renovation DIY, you need to research how to do these things. If you’re getting tradespeople in, you need to research reputable companies to use and compare costs.
Financing your dream
After you have a precise plan and know how much your project will cost you need to assess how you will pay for it.
If the project is going to cost more than you have saved, that doesn’t mean you have to start cutting it down right away. You can apply for a personal loan to cover the cost of your renovation. Particularly if you’ve planned your renovation to add value to your home when you sell it down the line, it’s worth making the investment to get the renovation the way you want it.
You should also be sure to add a buffer to your budget. Plans always go over budget when unexpected obstacles arise. Over estimating your budget will save you stress and make sure you can afford the project in the end.
Renovating can make your house feel like your home. As long as you create a solid plan that prepares you for the renovation process, there’s no reason why your project shouldn’t be smooth sailing.