5 Things to Know About Home Renovation
Are you looking for a way to spruce up your house? The improvements can be minor such as changing up or adding a few fixtures. Or, they could be extensive such as significant structural changes.
Regardless of the scope of your home renovation project, the key to success is proper planning and execution. Here are five things you need to know for a successful home renovation.
1. You can either DIY or hire a pro
If you are considering DIY, carefully assess the project to establish the type of expertise required and whether you have the necessary skills. Keep in mind that if you do not get it right, you may cause damage to the property, or you will have to hire a professional, and in the end, it will cost more and take longer. You may also have to buy expensive tools and equipment for the project.
On the other hand, if you hire a professional, do your due diligence to establish that they are qualified and credible. Check online reviews on review websites like PissedConsumer.com to find out the kind of experience previous customers had with prospective service providers.
For example, Streetlane Homes consumer reviews indicate the most common issues customers encounter when dealing with home remodeling contractors. Most complaints are about poor customer service, low-quality service, and no follow-up from the company on completed projects.
That said, whether to DIY or hire a professional, here's a checklist of factors you should consider:
The Scope of the Project
Are you renovating a section of your home or the entire home? Will the renovation involve significant structural changes or a straightforward change like applying residential epoxy flooring?
Your Budget
Generally, DIY is cheaper as you save on the consultation and labor costs of hiring a professional. On the other hand, hiring a pro is the most cost-effective option, especially for complex or large renovation projects. The average handyman hourly rate is $24.30.
Additionally, plan your renovation timeline strategically to take advantage of seasonal deals and discounts. Use customer feedback apps to research and compare prices for professional services and supplies.
Online resources and blogs can also provide valuable insights and deals, like this post about Macy’s Black Friday doorbusters. You might find great deals on the perfect decorations to add to your home after the renovation.
Your Skill Level
Most renovation tasks are technical and require some level of handyman skills. While you can easily follow a tutorial on YouTube on how to paint a house or install certain fixtures, you need advanced skills and experience to change the plumbing, bring down a wall and build another one, change electrical wiring, etc. Leave the roof repairs to bigalsroofing.com.
Amount of Time Required for Project
How long would the project take to complete? Do you have the bandwidth for it? Would hiring a professional get the job done faster?
State Requirements
Some states require pre-approval and permits for particular renovations. It may also be stipulated that specific professionals undertake given tasks.
2. It will cost at least 20% more than your estimated budget
Despite your best effort to come up with an accurate budget for your home renovation, it will cost at least 20% more than you anticipate. Sometimes, homeowners or property owners spend 2-3 times more than their budget.
Inevitably, there will be some surprise expenditures that come up. It could be a change in the cost of materials, a change in the renovation plan, unexpected damage, cost of storage, or temporary accommodation. Therefore, when planning your finances for the project, it is best to put some money aside to cushion yourself.
Nevertheless, be as detailed as possible when coming up with a budget. Include even the most negligible costs as every little thing adds up. Do thorough market research to find the best prices for professional services and supplies by comparing prices online or at local stores.
However, there are some ways you can cut your home renovation costs regarding the design and renovation plan, supplies, and professional services. For instance, it is more economical to leverage the already available space to optimize efficiency rather than changing the house's floor plan and overall structure.
You can also save on your renovation costs by donating or reselling the fixtures and materials that you removed but are still in good condition. Donating will earn you a tax deduction in some states while reselling can be a great way to raise money for your renovation budget.
Other ways to cut costs include:
Using your contractor's leftover materials from other jobs;
Doing some or all of the renovation by yourself;
Using cheaper alternative materials;
Buying supplies at an auction.
3. You may need a written approval to renovate a rental house
Most standard lease agreements require that you seek written approval from your landlord before doing any major renovations in the house. The landlord or property manager has the discretion to approve your renovations or not.
However, you stand a better chance for approval if the improvements add value to the property, improve its rent-ability, and not cause any damages. Some landlords are willing to pay for good upgrades, especially for long-term tenants.
You may not need pre-approval for temporary improvements that do not cause damage. For example, you can change the showerhead, install temporary window films, flooring floats, or adhesive wall hooks without permission.
4. Set a realistic timeline for the renovation
Like with the budget, the renovation will likely take longer than anticipated. When estimating the timeline, consider the tasks involved in the project, whether you need permits and how long it would take to get them, the project's scope, and whether it will be undertaken in phases.
If you are DIY-ing, how much time do you have to work on the renovations? How long will the interviewing process take if you hire a professional, and are they ready to start immediately? You want to provide ample time for the project without stretching it out too much.
For example, if you are treating your basement floor with epoxy you’ll need a few days for each coat to dry completely for best results. It’s better not to rush it.
You can save a considerable amount by learning to DIY. You can DIY just about anything from the paint, and flooring, to window furnishings. Plantation Shutters are very popular for renovation projects at the moment and are very expensive to buy normally, but luckily there are DIY Plantation Shutters available online, at a fraction of the cost at big-box retailers, or for those not in a delivery area from the previous link, you can check out how much they may cost for your project in their blog post about 'Plantation Shutters cost estimator'.
5. You may need storage facilities
For most significant renovations, you will need storage. It could be out-of-home storage or some storage equipment to keep things away within the home, e.g., storage containers. You could buy storage containers or rent them.
In the case of renting storage containers or space, it is important that you accurately estimate the renovation project timeline as it will determine how much you pay for rent if you have many items to store within your home and designate a room for them.
Final thoughts
Before starting your renovation project:
Think through all its aspects carefully.
Come up with a budget and a realistic timeline.
If hiring a professional, do your due diligence to ensure that they are reliable.
DIY may be cheaper and more suitable for smaller projects if you have the necessary skills.
Remember that the project may take longer or cost more than expected.
Let us know the tips that worked for your home renovation in the comments below!
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