I love renovating homes, and real estate so let’s break down some of the most common questions I get from homeowners wanting to update their personal homes! Here are a few FAQs to consider when renovating your home!

How do I pick a contractor?

Ideally, you want to build the same kind of relationship with your contractor as you do with your real estate agent: one built on trust that makes you want to go back to that person for any future needs. Your contractor should be an excellent listener and communicator. You want them to understand your vision for your home and keep you in the loop every step of the way. Do your due diligence by checking out contractors’ reputations, talking with other clients, and looking at work they have done previously before you make your selection.

How much will my project cost?

Of course, the answer depends upon the scope of your project, but to get the best estimate from your contractor, take time to write down each detail of your plan so that the contractor can include everything in their estimate. Renovations are famous for taking longer and costing more than initially planned. These changes are often because the homeowner makes additions or changes along the way. Homeowners don’t always realize that. For example, if you move a wall in your home, you may have to reroute electricity and outlets. One item often leads to another, so you have to look at everything piece by piece.

It is an excellent practice to have more than one contractor review your project and ask each for a detailed bid so you can compare.

How long will renovations take to complete?

As we said above, how long a renovation takes depends on how much work is done and how many changes are made along the way. The more pre-planning you do, the better estimate your contractor can give you.

How do I prioritize projects?

If you are living in your home during renovations, you may want to plan out the project in phases. This will allow you to live out of some rooms while others are being worked in. You may also need to phase projects based on cost and availability of funds.

Where do I begin?

You begin by conducting a lot of research. Start a look book for your home in a notebook or online, collecting pictures of the look and finishes you want. Talk to different contractors and visit kitchen, bathroom, appliance, and flooring showrooms to get ideas on selections and pricing.

Do I need permits?

Your contractor will know what projects require permitting. Ensure that you abide by permitting regulations. Failure to secure proper permits can come back to bite you if further work is needed down the road.

How much will renovations increase my home value?

Every homeowner hopes that making improvements will increase their home’s value, which is usually the case. But sometimes what homeowners view as improvement can turn out to be liabilities to future buyers. For example, don’t put so much money into the house that it becomes more expensive than the rest of the neighborhood. Be careful not to add personal style preferences that can’t be easily changed. Some of these examples are ornamental fixtures, radical architecture, or unusual landscape features.

How should I pay for renovations?

There are a few ways to explore. If you have the cash to pay for your renovations, that’s undoubtedly an excellent way to go. You can consider a home equity loan with a manageable monthly payment. There are also traditional options, including 203k and Homestyle loans.

If you are interest exploring loan options, here is my page breaking them down!

These are just a few of the FAQs we get about renovating your home. If you have more or would like to explore some of the loan options available to you, please schedule a one-on-one call with me!