Updating your home provides you with an excellent opportunity to increase property value, update the home’s style and improve its functionality for your current and future needs. Many homeowners have been dreaming about what their remodeled home may look like for many years, so you understandably may be eager to improve your home from an aesthetic perspective and to start seeing fabulous results from the effort. However, there are many other factors to consider besides the cosmetic appearance of your home. Creating a thoughtful plan that takes into account multiple factors may help you to produce a finished product that addresses all of your needs and wants. These are some of the more important factors to pay attention to as you prepare to update your home.
Your Budget
You understandably must complete your home improvements on a tight budget. Regardless of how large or small your budget is, you cannot feasibly spend more than what you have allocated. With this in mind, the first step to take to complete a home updating or upgrading project is to prepare a budget. Many people borrow money for this type of project, such as through a home equity loan. It is wise to determine how much money you have access to. Then, you can allocate the funds to various aspects of the project. Keep in mind that a contingency fund is also essential when improving your home.
Energy Efficient Upgrades
If you have not been regularly improving the energy efficiency of your home over the years, you may benefit by focusing your attention in this area. New homes today are built with features and materials that make them much more energy efficient than older homes. Your renovation or upgrading project gives you the opportunity to replace windows, the HVAC system, insulation and other features. By doing so, you may dramatically reduce energy costs going forward. Likewise, you can upgrade water features, such as toilets and faucets, to reduce water consumption.
Quality Materials
Many homeowners who are walking through a renovation project do not take into account how the materials used may impact property value, cleaning tasks, home maintenance and more. For example, some homeowners have been dreaming about replacing carpet for hardwood floors. While hardwood flooring is usually a great investment and adds aesthetic charm, it also reflects dirt, dust and pet hair easily. Some people sweep their hardwood floors daily in order to keep their home as clean as possible. Carpeting can also get dirty just as easily, but the fibers hide the dirt so that your home looks cleaner for a longer period of time. This is only one of many examples of how your materials selection will impact your living experience.
Your Future Needs
Updating your home provides you with the opportunity to improve its functionality. You may have purchased your home many years ago before you thought about starting a family, for example. Now, you may plan to have a baby soon. The renovation of a room gives you the opportunity to create a dedicated nursery. Remember to choose baby-safe paint and to make the room baby-proof in other ways. This is only one way to prepare your home for the future. For example, you may plan for an older parent to move in soon, and you may want to create a second master bedroom or even a private apartment.
Your budget will dictate the scope of your project and the materials that you have access to. To begin planning your project, determine the amount of money that you have access to while also creating a dream list of projects that you would love to complete. You can then narrow down your list as needed so that it is manageable for your budget. Consulting with a contractor at this stage in the process may help you to more accurately estimate the cost of each aspect of your updating plan.
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