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Author Andrea Needham

Are you ready to take the home renovation plunge? There are a lot of factors to consider when renovating a home. It can be an exciting and rewarding experience, but it will require careful planning and budgeting. Here, the real estate professionals at Team Shope explore the basics of home renovations, so you can have a successful project that meets your expectations.

Understand the Pros and Cons Before Beginning

Home renovations come with both benefits and drawbacks. On one hand, remodeling allows you to create the exact look and feel for your space that you desire. You can also make improvements to increase energy efficiency or add value to your property should you decide to sell in the future. However, there are several potential pitfalls associated with home renovations as well. The process can be costly, time-consuming, and stressful if not properly managed from start to finish.

Decide What You Want Updated

The types of renovations you can undertake vary widely depending on what areas of the house need updating or improving upon. Common projects include bathrooms, kitchens, basements, bedrooms, living rooms, etc.

Once you know which projects you’ll undertake, create a digital filing system that will help you to keep track of everything related to the project or projects. Things can get a bit chaotic during a renovation, so digitizing and storing files on the cloud can make it much easier to stay organized. Plus, take a look at a tool that lets you merge PDF documents that are related, for instance, to one project (i.e. the bathroom reno), contractor, or timeframe. You can keep your budget, schedule, permits, estimates, receipts, and anything else stored right there together.

Consider Designing a New Home Office

Creating your workspace at home can be incredibly rewarding. Even if you lack space, there are ways to make room for an office or multipurpose room that works for you. The first step is to assess what area of the house could potentially be reallocated for this purpose. Look for a spot that’s located away from noise and distractions.

Think of creative storage solutions and consider rearranging the furniture to open up more room. If necessary, take a look at which items can be donated, sold or placed in self-storage. With some hard work and organization, freeing up space in your house for a home office or multifunctional room is achievable—and it’s worth the effort!

Define and Finance Your Renovation Goals

Before beginning any project, it’s important to define your desired outcome first – what exactly do you want out of your renovation? Once you have done this step then it’s time to look into financing options such as applying for a home improvement loan if necessary – research different banks or lenders who offer these types of loans so that you know how much financing is available for your project beforehand.

Research Your Contractor Options

You must connect with reputable contractors who have experience with previous remodeling projects similar to yours. Don’t just go with the cheapest bid without doing some research into each contractor’s background first! Additionally, budget carefully – keep in mind that unexpected costs may arise along the way so plan accordingly so that all expenses are covered without going over budget!

Learn the Tools of the Trade

Set clear expectations with a timeline and schedule before beginning any work – this will help ensure everything gets done promptly while also allowing you to track progress along the way. Additionally, it can be helpful to understand estimating apps and software contractors use – these tools allow them to estimate costs quickly and accurately which will help keep costs down for everyone involved in the project.

Protect Your Investment with a Home Warranty

Renovation projects can be thrilling and stressful, but finally coming to the completion of a project is one of the most satisfying moments. Before diving into the exciting part that comes with making the final touches to a newly renovated home, it’s important to consider whether a home warranty is worth it.

Having a warranty in place gives added assurance should anything go wrong with appliances, electrical systems, plumbing, and more. Each home has different needs, so you will need to figure out what protection you would want in order to determine how much is a home warranty. A home warranty is an invaluable investment, delivering peace of mind and financial savings should any repairs or maintenance arise.

Make Your Renovation Dreams Come True

Renovating a home is no small feat, but with the right mix of preparation and research, it can be an incredibly rewarding experience whether you’re remodeling your kitchen or office. By discovering loan options, connecting with reliable contractors, budgeting wisely, setting time frames, planning a home workspace, taking advantage of estimating apps, and securing a home warranty, homeowners have all they need for success! With these simple steps followed closely, you’ll soon realize your dream renovation project has come true.

If you have questions about which renovations will give you the best return on investment, or if you’re looking to sell your home, contact the real estate professionals at Team Shope!