Ways to prepare for a home remodel
Create a budget
The best way to save money is to know how much money you have to work with and keep a clear budget throughout the process. Before you spend any money, you should know everything that you plan to update and estimate how much it will cost after pricing both materials and labor.
Have a plan and set dates
Setting a budget and planning the renovation go hand in hand, and you may need to go to the drawing board a few times before beginning any physical work. Having a clear plan will help you avoid spending carelessly, and you can track your progress when you know your end goal. Setting clear start and end dates will be helpful, and prepping materials before starting will keep you from breaking your budget.
Ask knowledgeable acquaintances
If you have friends that work in construction, or real estate, ask them for advice before hiring contractors and tearing down walls. Knowing who to avoid when hiring contractors can be half the battle, and talking your plan over with an acquaintance can help iron out any kinks before they happen.
Do it yourself
In this modern age, you can find instructional videos on the internet and try to make improvements yourself. While knowing your limitations is important, testing those limits can lead to completing your home renovation under budget since you were able to make many of the improvements yourself.
Clear your rooms before starting
When your plan is fully formed, you should prepare your home by emptying the rooms that will be affected. If you are renovating a home you just purchased, you might have nothing to move, but others might be wise to rent a storage unit. Emptying rooms that are being renovated is not just good for your furniture but essential for anyone working on updating the space.
Plan for living without water
If you are renovating a kitchen, bathroom, or both, you will need to plan for living without these modern conveniences. You could stay with family or rent a hotel, but some stock up on bottled water and find creative ways to bathe and wash dishes.
Safety precautions for kids
If you will be living around ongoing construction or will visit the property frequently, you should ensure the construction zone is clearly marked. You should also instruct your kids on construction safety and how to conduct themselves around dangerous machinery.
Have the necessary permits
Another essential step in preparation is to ensure you have obtained all the necessary permits to make the planned modifications. You will likely need residential permits to make significant changes, and having this paperwork ready will allow you to begin construction unhindered.
Work with a trustworthy contractor
When it comes to hiring help for the renovation, working with a reliable contractor will dictate the quality of your experience. Make sure you do in-depth research before hiring anyone, and consult people you know in your area with first-hand knowledge. The wrong contractors will have you off your schedule and out of budget in no time.
Ways to save money during the renovation
Letting in the light
You should use existing windows to your advantage, and instead of building a new one, make sure the windows already in the home are unobstructed and let in the most amount of light. A room painted in a darker color may appear darker, and re-painting a bedroom is cheaper than putting in a new window.
Recycle materials where you can
Using salvaged or gently used materials can end up being just as sturdy and reliable as if you had bought the material brand new. Of course, this is based on luck and local knowledge, but you should not be afraid to recycle and save money along the way.
Donate what you don’t use for a tax credit
When you make charitable donations throughout the year, you can apply for a tax credit come tax season. Instead of throwing away any materials from your home remodel that you cannot use, you can donate them to Habitat for Humanity, and you can report these donations to the IRS.
Tear things down yourself
As long as you don’t tear down a load-bearing wall, you can pick up the sledgehammer and demolish something yourself. You can even rent tools and necessary machines, which could be cheaper than hiring a contractor.
Ask to keep left-over materials
When any contractor you work with is finishing up, make sure you take stock of what materials are left over. You most likely paid for the materials, and that way, if a tile in your new kitchen were cracked, you would be able to replace it with an identical tile.
Consult with different architects before choosing one
You can interview various architects before settling down and working with one. Consult with multiple before going too far down the road with an architect that doesn’t share your vision.
Putting “sweat equity” into your home
Sweat Equity is a term in the real estate industry that means you are putting value into your home through your own blood, sweat, and tears. While you can splurge for the best contractors in town, if you are looking to flip your home for a profit, you will want to cut costs where you can. Add value to your home without eating away at your savings.
Being your own middleman
When you are trying to streamline your project and move mountains quickly, you may need to think outside of the box to make things happen. When delivery times and materials are holding you back, you can drive to pick up materials yourself so that you aren’t at the mercy of the supply chain and contractors that are dragging their feet.
Do you have a real estate agent?
Those that are looking to move to New York City should consider working with a reliable agent that has the experience and local knowledge to get you moved into your new home quickly. From Greenwich Village real estate to Tribeca homes for sale, you will need to move quickly to secure a home in the city that never sleeps. The Jonathan Stein Team works tirelessly to earn their client’s trust and maintain lasting relationships even after the transaction is over. Call Jonathan Stein today and discuss your real estate plans!