Top 5 Things to Consider BEFORE Renovating your Home
I feel the buzz in the quarantine air. The temperature is starting to rise, and the home renovation projects that you’ve been endlessly stalking on Pinterest may finally become realized. Before you begin, here are my TOP 5 THINGS TO CONSIDER.
Will this project create value? Value is very subjective. However, if you plan on selling in 1-3 years, you will definitely want to ask yourself these 2 questions: does this project appeal to 80% of home buyers, and how much does this project cost vs how much equity you’re building into the home?
Be realistic with your renovations. Are you actually able to knock down that wall or install an upstairs bathroom? Or will this cost you an arm and a leg because you need to re-route the pipes/vents?
DIY or Pro? Aside from “simple” projects, I almost always recommend hiring a professional. There are 3 important things to consider: time, livability and patience. Do you have the time it takes to do the endless amounts of research to make sure you have all your ducks in a row to take on this project? Do you have the time it takes to complete this project? If a project is slated to take 1-2 weeks, make sure to add another week for good measure. Can you live in a construction site, or without a kitchen or bathroom for an extended amount of time? Do you have the patience needed to put some sweat equity into the house? Do you have the patience to go back in and fix something when you realized you did wrong?
Not all contractors are made equally. Get at least 2-3 quotes and make sure to ask if they are licensed and insured. Ask to see pictures of similar jobs and read their reviews online. For my ladies out there, it’s like getting your eyebrows microbladed or getting lash extensions - you wouldn’t just trust the first person you find online without checking their work/reviews on Instagram and comparing price/work with different professionals would you?! The answer is (hopefully) no. Do your due diligence and make sure you can trust your contractor to NOT make an even bigger mess, lengthen the timeline or over charge you.
Get samples! Aside from deciding if you should hire out or do it yourself, make sure to ask for samples so that you can bring it home, and see what it looks like in that room and in different lighting. In the age of technology, many people start their search online; however, it is a big risk to purchase thousands of dollars of material online without seeing it in person. Take the time to do your research online, but take another step and go into a store before committing to the full product.
Still not sure if your project will build you equity? Click here to schedule a free one-on-one consultation with me!