For most homeowners, remodeling or renovating their home is a once-in-a-lifetime experience. Tackling a whole-home renovation requires planning, permitting and coordinating with multiple contractors. Whether it’s for aesthetic reasons or to create a more functional space, the process can be frustrating and time-consuming. But educating yourself and knowing what to expect can help keep the project on track.
The first step is identifying your goals. Are you looking for an extra room, an updated kitchen or a more efficient floor plan? Then, determine how much you can afford and what your timeline is. Then, find a contractor with the right expertise. Get referrals, read reviews and sit down for consultations until you find the right fit.
A good home remodel services team will be able to translate your wish list into a practical plan and budget that is realistic for your lifestyle and the surrounding property values. If you are going to spend big bucks, you want to be sure that the remodel will pay off in terms of increased resale value or ease of living.
It’s also worth determining whether to use cash or financing. A HELOC (home equity line of credit) allows you to draw against a portion of your home’s equity like a traditional mortgage but offers more flexibility because the money is not tied up. It’s also a better option for projects that may take longer than expected or are bigger than originally planned. For instance, if you have to expand an existing bathroom because it’s 10 feet wide and plywood only comes in 4-foot-wide sheets, that could add thousands to the bill.