Top Five Tips To Renovating A Home Stress-free Without Breaking The Bank!
Have you ever called in contractors for estimates and the quotes were so ridiculous, you said forget it?
Or have you ever wondered how your neighbor managed to renovate their home so beautifully and not break the bank?
Common mistake #1: Hiring the cheapest contractor
This is the most common mistake made by homeowners and it’s understandable. Who doesn’t like a good deal?
However, there is a common saying. You get what you pay for…… and it’s also true in this case. After years of experience we’ve discovered that the cheapest contractor may offer a low quote in order to secure the job. As a homeowner if you agree to hire the cheapest contractor, you may experience one of these two tactics:
- The job could be completed on budget but the quality of work and materials of poor quality. To avoid this common mistake ask for a detailed written quote with all the materials that will be used. This way you can make changes to reflect your true style. It’s also a good idea to visit the contractor’s current and past projects. Don’t fall for only viewing a current project mid-stream. It’s imperative that you view a project that’s 100% completed. This way you can see any flaws that may exist. If you view a job in progress, the contractor may simple say this and that will be done! In reality, they may never complete 40% of the things they mention! We hire contractors on an ongoing basic and a job in progress and a 100% completed job could save you thousands of dollars and a nightmare.
- Additional cost – in renovations additional cost basically covers unforeseen circumstances. With homes you never know what issues will arise, until you open up walls. If your contractor gave you a low quote in the beginning, some may try to use unforeseen circumstances to bump back up the price. For most homeowners at this point, they either cough up the extra money or fire the contractor. The thing with firing your current contractor and hiring a new one, is that all together it will almost always cost more.
Common mistake #2: Not pre-booking your contractor in advance
This mistake alone could save you thousands.
Have you ever heard of early bird savings? Most home renovation company may provide an early bird discount to clients that book their services two or more months in advance. The truth is good home renovation companies are booked up months in advance. It’s now December and we are already booking for February and March. Some benefits of booking in advance to homeowners are: they may receive a discount and all the materials and supplies for their job can be ordered and stored, just waiting for the project start date. Remember in home renovations items can be: out of stock, discontinued, delayed, broken, damaged, wrong size, color or quantity received. The only way to avoid these human or computer errors is to pre-book, so that everything can be received, verified and stored long ahead of schedule for you.
Common mistake #3: Not using a home design firm
We will first start by saying, there are some great general contractors and handyman out there.
However, there is a big difference between being a great general contractor or handyman and being a home designer.
Here is the major difference, not because you can renovate, doesn’t mean you can design! Have you ever seen a home renovated to perfection with a lot of high end finishes but nothing works cohesively? If you’re in doubt, try reviewing your cities local real estate mls listing of homes for sale. For sure you will find homes available for sale that are renovated but lacking in cohesive design.
Common mistake #4: How will you pay for your home renovations?
Decide ahead of time, how you will fund your home renovations. Most homeowners either use a line of credit, cash or home renovation company finance program. Do your research ahead of time and make appropriate arrangement.
Common mistake #5: Make sure everything is well planned
This is a step that is often over looked. During the renovations, will you be living on the work site or will you need temporary housing? Living in a home while it’s being renovated is tough and require a lot of patience and adjustment. If you think this will be too challenging, why not stay with a family member, friend or arrange a temporary rental. This tip could save your marriage or be the difference between staying sane or going crazy!
There you have it!
We would love to hear from you, leave your questions or comments below.
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