Owning your own home can bring feelings of excitement and fulfillment because it’s a building that you can make your own. You can decorate it to your taste as well as add and take away things structurally so that it feels closer to the house you’ve always envisioned. If you’re thinking about renovating your home and need a few ideas, here are 7 steps that you can take to achieve the perfect home renovation.
Set a Budget
When looking to make the perfect home renovations, first and foremost, you should decide how much you’re willing to spend. Doing it the other way around could result in putting yourself into a financial ditch. If you don’t already have a budget, here’s how you can create one for yourself.
Track Your Expenses:
When creating a budget for yourself, the first step is always to track your expenses. Look for patterns in your spending and see where most of your money is going.
Determine Your Income:
Once you have an idea of what your spending habits are like, you should make a note of your total income every month. This is important as you want to make sure that you aren’t spending more than you make.
The final step you should take would be to categorize your expenses and determine how much of your income will go to each pot. Some of these categories could include bills, household, entertainment, food, and travel.
Decide Which Renovations to Make
Once you’ve set a budget, you should decide which renovations you want to make. After budgeting, you have an idea of how much you can spend so that eliminates exorbitant renovations automatically. When choosing renovations, choose ones that will add value to your home. Some examples are creating an open plan living and dining area, replacing flooring in the kitchen, or giving your existing bathroom a makeover.
Aside from knowing what renovations will add value, you should also know which to avoid as they could take away from your home value. For instance, lavish lighting fixtures could be dated in the next ten years, so doing that may not be smart. Another example is putting texture on the walls and ceilings as it would be difficult to remove.
Get the Right Permissions
Even though you own your property, when it comes to making major renovations, sometimes you need the right permissions. Find out the right authorities to contact before going ahead as you don’t want to break the law and end up getting fined. For instance, if you live in a condominium and you own the inside of the condo, the outer walls, ceiling, and roof are all common property, so you’d need permissions before renovating those parts of it.
Additionally, you should also think about how it may inconvenience your neighbors as well as those in surrounding environs.
Look for the Right Contractors
Choosing contractors are the next major step in making home renovations. In light of this, create a plan that will make it go as smoothly as possible and you have a clear idea of what needs to be done. See below a few steps to include in your plan.
When you’re looking for contractors, it’s imperative that you do enough research. This is where you find out the fundamentals and separate the good from the bad.
It may be a good idea to ask your friends for referrals as well as they’re likely to be more credible.
Once you narrow down your list, you want to be sure that your potential contractors have a license and insurance. This should give you peace of mind that they at least have gotten the right licensing.
Write it Down:
When working with contractors get absolutely everything in writing. This is because if things go left, you want to be sure that you can refer back to the terms and conditions that you agreed on.
Source Your Materials
When it comes to sourcing materials for your home renovations, you can source them yourself or leave it to the contractors to do so. However, you could save a lot more by looking for them on your own. You also need to think about whether the amount you’ll save is worth the time it will take you to source materials and who is likely to get top quality.
Plan for Unforeseen Circumstances
It’s important that after you decide on your renovations and contractors that you plan for unforeseen circumstances. You never know what can happen and it isn’t unheard of that your project can end up costing more than you initially budgeted for. If you don’t have an emergency fund, explore the idea of small personal loans as they could help you cover the cost of your renovation. However, to be eligible, you need to have a minimum net monthly income of $500.
If you happen to be on a tight budget, explore the idea of doing DIY for some of your renovations. You’d be surprised that some of the renovations that seem extremely difficult can be done on your own with a little time and effort.
For instance, a DIY home renovation is repainting the front door and updating exterior accents. Another example is applying removable wallpaper as it’s stylish and requires minimal investment.
Having said that, it’s advisable that you avoid making the mistake of trying to DIY as in areas that you don’t have experience. This is because you could end up paying exorbitant amounts to fix your mistakes.
Patience is essential when renovating your home. This is because it could end up taking longer than you expect and you don’t want to end up stressed or overwhelmed as a result.
Renovating your home can be time-consuming but can also be very fulfilling. It’s your chance to put on your interior decorator and transform your space to the home of your dreams. By taking the steps above into consideration, you should be able to create a home that you’ll be proud of.
Image Credit: Pixabay
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