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Should You Renovate
or Buy New?
The dollar investment to remodel your
home could be used to purchase a new
home.
The decision to renovate or buy is based
on a number of factors, including type
of renovation, cost, neighborhood analysis,
market valuation, your desire factor
and other issues.
Home
renovation costs should be 30% or less of
your home market value
go to our "analyzing the numbers" discussion

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What Kind of Home Remodeling
Project
This is the fun part of Home Remodeling
— getting ideas and viewing home
improvement galleries. We have suggestions
on where to look:
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Sketch Your Home Remodeling
Plan
Understand
design trends before finalizing your remodeling
plans. Home remodeling considerations include:
-
traffic should flow to one side of
the room rather than through its center;
i.e., by placing the door ways in
the corners
-
larger kitchens have a greater resale
value than smaller kitchens
you will want to design the working
area with appliances in a triangular
position for easy working
-
bedrooms and bathrooms should be separated
visually from the working areas of
the house
and much more considerations when
designing your plan
or if your remodeling project
is simple, there are some nifty Home
Renovation software that you can use. Either way, we have
a complete listing of architectural
services and designing software:
jump
to our home remodeling design directory

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Assembling Your Home Remodeling
Specifications
Designing
the remodeling specs is the most important
task that you will undertake.
This task can be the most complicated
since you need to detail everything
about your remodeling plans so that
you can bid the project out to a contractor.
Let's us help with our step-by-step
remodeling specification sheet and supporting
home remodeling ideas.
use it to note ideas for your remodeling
plan:
go to home remodeling
specifications plan

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Finding and Selecting
a Home Remodeling Contractor
The
home remodeling specs will be used to bid
the construction project. Take your specifications plan and follow these
three important tasks:
It will help them design or revise
a house plan to fit your remodeling
specs.
find
an architect / designer
The architectural plan should
include your construction specs
(if no, include your spec plan).
Make sure to work with a network
of contractors that have been
prescreened:
-
make sure you protect yourself and your investment.
negotiate
with the contractor

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Arrange Financing
Once you approve an acceptable bid
from a contractor, you may now seek
home improvement financing from a lender.
The lender will most likely secure your
financing using the equity value of
your existing home.
- home equity credit line
- home equity or home improvement
fixed-rate loan
home
equity financing
see our notes:
qualifying for home equity financing
Estimating Your Home Value:
The amount of financing lenders will give you is based on the equity value of your home. Use this LTV calculator to estimate your financing amount.


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Start the
Project
Be
prepared to manage and control your project
to avoid surprises and cost overruns
Now for the construction — learn
how to manage:
- project management
- change management
- problem resolution management
- cost management
- financial management
go
to home remodeling project management

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Inspect Your
Home Remodeling Project
He
who holds the money rules the process.
As your construction moves through construction
phases, get the project phase inspected
before making payment.
Once payment leaves your hand, you lose
control of getting things done right.
go to
construction inspections

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Decorate
Your Project
Your
decorating budget may be tight, so shop
wisely for best ideas and plans.
Furniture, electronics, pictures, etc.
— and that is just for the interior.
For the exterior, you have flowers, yard
furniture, cooking grills, etc.
go to our
home improvement gallery

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One Last
Item
We
have a complete 5-step home remodeling plan
that details home remodeling steps: click here
Monthly expenses are generally tight after
completing a home remodeling project. Take
a moment to view our guides on lowering
monthly expenses:

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