If you are planning a home improvement project, congratulations for taking on what can make for exciting changes to your home. You’ll come away from the project with an updated living area and likely have a home that has increased in value.
To save money and to come up with the best plan for the money, the following tips can help make your project a success:
Evaluate Your Needs — Before you do anything, what are your specific needs? Do you need a larger living room? A new kitchen? Do you want to add a deck? Enclose the garage? It is much cheaper to define your needs now then to update them again later on.
What Is Your Budget? — If you have $30,000 set aside for the project, will that amount cover all of your costs? Blueprints, licenses, contractor extras, and more can quickly skew your budget. If you need more flexibility, consider taking out a home equity loan or line of credit to pay for your improvements.
Finding A Contractor — Will you be doing the job yourself or using a contractor? Ask around to have friends recommend who they used; get references and compare at least three quotes. Make sure that the people entering your home to do the work are licensed and insured. If multiple contractors are being used will you pay each one or will the general contractor handle it for you?
Getting The Work Done — Depending on how large of a project you are undertaking, you may have to look for other living quarters while at least some of the home construction is being done. If electricity must be off for several days, can you stand living in your home when the outside temperatures are topping ninety degrees?
The Aftermath — When the project is finished, check carefully to make sure that your contractor hasn’t missed anything. Make your final payment and make sure that you have original guarantees in your hand. That newly installed electronic stove may be someone else’s responsibility to fix, not your contractor.
Lastly, enjoy your updated living quarters. The hardest part of the project is now done, relax and have fun!
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