Renovating Your Home? Be Careful About These Things

Renovating Your Home? Be Careful About These Things
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    There is no denying that home renovation can be quite challenging and daunting, especially when it’s your first time.

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However, you can limit anxiety and also wastage of money by keeping the following things in mind:

1. Set the Budget Carefully

The most important thing that you need to pay attention to right from the beginning is the project budget. Many people get carried away wanting to give their home the best “fresh new look”.

However, there is no point in making your home fancier when you have to struggle to repay the debt that you created to complete the project. In other words- try to set a well-planned budget and stick to it under all circumstances.

2. Check with Insurer

If you have home insurance, then you must have homeowner insurance coverage explained in detail by a professional or read about the same online before you start the renovation.

You should check the concerned documents and inform the insurance provider to ensure that the policy doesn’t become void due to an accident or mistake. The following are a few things that you need to know:

  • Building materials like wood, paint, etc. are unlikely to be covered under the insurance policy
  • If liability insurance isn’t provided with the basic policy, then you can get it separately to cover the costs if someone gets injured during renovation
  • Take pictures of everything when the project gets started and share them with the insurer when it’s over. This way, they can’t deny claims later on the grounds of new areas (like a new staircase) that didn’t exist before.

3. Catch up With Trends

A lot has changed in the home renovation and construction industry in the past few years. So, it’s a good idea to learn about new trends that are reducing the cost of home renovation today to avoid unnecessary wastage of money.

The good news is that the Internet is full of useful information in that domain that you can go through to find out new and interesting ways go about home renovation in a less expensive manner viz. using ready-to-assemble cabinets and other accessories, 3D printers for custom products for your home, etc.

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4. Pick the Contractors Carefully

There are various things you need to check for finding a reliable home contractor, and you can’t afford to be lax on that. Sure, you can consider recommendations from your friends and family. However, you should verify the credentials of the contractors on your end as well and look into their license, certifications, work history, etc.

Apart from qualification and proven track record, you can look for an understanding with your contractor. In other words, they should see your vision and be able to follow your instructions.

5. Create a Watertight Contract

Home renovation projects can be quite expensive and time-intensive. Thus, you want to make sure that your efforts get the desired results in the first attempt and leave no room for mistakes. One of the things that you can do for that is creating a solid contract.
Your contract should be as specific and detailed as possible. It should also explain the following in no uncertain terms:

  • Timeline of the project
  • Payment scheme (total amount should be disbursed in small installments so that you have leverage until completion)
  • Penalties for missed milestones
other valuable tips:

A lot of times, it’s easier to buy a new home than renovating an existing one. However, there are also many good reasons why renovating is better which include cost saving,  living space customization, etc. So, if you think that your house needs renovation, then by all means, go for it. Just be sure to remember the points that are discussed above.

Image credit: Pixabay

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