What You Need to Know Before you Remodel May 18th, 2017 Home remodels can be complicated, confusing, and frustrating. However, with a little prior preparation you can start your remodel off on the right foot and ensure that you’re ready for the project ahead! Plan for your remodel with these 5 steps: What You Need to Know Before you Remodel Decide what you’re trying to accomplish Remodeling projects are undertaken for many different reasons. The purpose of your remodel should be the driving force behind your remodel planning! What’s the reason for your remodel? Restyle-Your home doesn’t fit your needs and could use a style update. Resale-You want to maximize the sale price of your home. Repair-Your house has structural or functional problems that need fixing. Don’t worry if you fall into two of these categories, you can use all of your remodel motivations to prioritize remodel projects. Get Inspired If you’re feeling a little uninspired you can look online for remodeling inspiration! Create a unique look for your home by combining ideas from multiple sources. Start your idea search on: Houzz- Find remodel information, ideas, photographs, and shop for finishing touches. Pinterest-Jump into the Pinterest wormhole for styling ideas, remodel options, and designer inspiration for every room. A million other websites-Remodel inspiration is at your fingertips with a simple Google search! Outline Your Needs Go through your house room by room and write down everything you want to change and what needs to be done to make it happen. This is your remodel wish list. Think about: The big picture—does the current layout work or do you need to demolish walls? The details—what specifically do you want to change? Everything in between—how do you make these things happen? Then ask yourself: Is it a simple change? Will you need to make structural changes to achieve it? Will it lead to additional things that need doing? Next: Prioritize your wish list. Start by highlighting the things you need to happen. Then list the things you’d like to happen but aren’t necessary. This makes it easy to know which items can be sacrificed first when you’re working on your budget! Create a budget Think about your budget in three ways: What can you afford? Be honest about how much you can afford to spend or borrow. What will the remodel cost? You should include theses expenses: Construction cost, including finishing touches like paint. Accommodation expenses if you need to live off-site. A 7-10% buffer for unexpected costs. What is the return on investment? Some remodeling projects will add more value to your home than others. Remodel projects with the highest return on investment include: Basement Remodel: 131% ROI Kitchen Remodel: 120% ROI Adding a second story: 108% ROI Talk to Your Contractor Choosing the right contractor will make your remodel project much more enjoyable. Don’t be afraid to ask potential contractors questions to learn about their business and outline project details. Start with these questions: Can I get references from a current client to see how their remodel is going? Are you licensed and insured? What’s included in the quote? Can you put that in writing?