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5 Tips to Make Your Home Renovation Run a Little Bit Smoother

5 Tips to Make Your Home Renovation Run a Little Bit Smoother
  • Opening Intro -

    There are many great benefits to performing a home renovation.

    It can help to beautify your home, make your home more comfortable and enjoyable for your family to live in, and even increase the home’s value on the market.

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However, a homeowner can run into a lot of problems during a renovation project. It can be a lot of work and can quickly get bogged down with unforeseen obstacles if you’re not careful. You should get all the help you can.

With that in mind, below are five tips for making your home renovation run a little smoother.

Overestimate the Cost

One of the biggest and most common problems homeowners face during their home renovations is budget overruns. If you’re not careful, you can quickly go well beyond your original budget to the point it no longer feels worth the cost.

To protect against this, never underestimate the cost of a renovation. You should, in fact, overestimate the cost so that you have some wiggle room if things do end up more expensive than you first expect.

By setting up about 15% of your budget as a cushion, you’ll be prepared if the demolition reveals problems in the walls or if you find the absolute perfect tub that is a little bit more than you were planning on.

Consider the Cleanup

Doing the work and finishing your renovation is only part of the job. It can seem like the cleanup that has to happen afterwards is nearly as much work as the actual remodeling.

This is especially the case if it’s a major renovation that requires changing walls, flooring, plumbing, and more. To make the job a bit easier for you, consider obtaining rubbish removal services.

As you work, tidy up each day and throw the debris in your rented rubbish bin. When your bin is full, you can have the rubbish bin taken to the dump, requiring very little work on your part. Doing as much clean up as you can while you work will also make the renovation easier.

Take Advantage of Tax Credits

Another thing you should be aware of is that you may be able to take advantage of the tax code to make your renovation less expensive. For example, if your renovations help make your home more energy efficient, you may be able to file Form 5695 to receive tax credits. It’s certainly worth investigating.

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Consider Refinancing Your Mortgage

A lot of homeowners pay for their renovations with a credit card. However, that is rarely the best way to pay for it. Credit cards usually come with high interest rates, so unless you plan to be able to pay it off quickly, a credit card will end up costing you a lot more in the long run.

A better option may be to refinance your mortgage. You may be able to use some of your home’s equity to pay for the renovation. Discuss the possibility with your lender.

Set Realistic Goals

If you aim too high with the goals of your renovation, you may end up disappointed or biting off more than you can chew. Just because you watch home improvement shows on TV does not mean you have the ability to "flip" your entire house. Keep your renovation goals modest and achievable to obtain the best results.

other valuable tips:

It’s easy to get in over your head on a home renovation project. Make sure your goals and budget are realistic. Finance your project in a way that will not put you into the poor house.

Clean up the area often to make the work easier and to decrease safety hazards. Finally, consider tax credits and different services and contractors that can help you with the workload. These steps can make completing the project far less stressful.

Image credit: make your renovation run smoother by envato.com

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Home Remodeling Reference:

GUIDE: types of financing options

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