Renovating a house is an exciting alternative to moving into a new home. With the real estate market in constant flux, more Americans are choosing to renovate their existing homes instead of buying new ones.
This trend has been influenced by rising home prices, a competitive market, and the desire to personalize living spaces.
According to a recent survey by Houzz, home renovation spending increased by 60% between 2020 and 2023 alone. However, undergoing a renovation is no small feat and requires careful planning and consideration. Here are some key aspects to think about when planning your home renovation.
The Cost
One of the first things to consider is the cost of the renovation. It’s essential to set a realistic budget that covers all aspects of the project. The average cost of a home renovation can range from $20,000 to over $100,000 depending on the scope of the work.
Begin by getting multiple quotes from contractors and ensure that these quotes cover labor, materials, permits, and any unexpected expenses that might arise. It’s wise to add an extra 10-20% to your budget for unforeseen costs. Financing options such as home equity loans, personal loans, and credit cards can help manage these expenses, but it’s crucial to understand the terms and interest rates associated with each option.
Where Will You Stay?
Living through a renovation can be disruptive. Depending on the extent of the work, you may need to find alternative accommodations. If the renovation is limited to one part of the house, you might be able to stay in your home, but if major systems like plumbing or electricity are affected, staying elsewhere could be necessary.
Consider staying with family or friends, renting an Airbnb, or even moving into a short-term rental. Plan this aspect carefully to avoid added stress during the renovation process.
The Small Details
When planning a renovation, it’s easy to focus on the big picture and overlook small but important details. For instance, consider the placement and number of power outlets in each room. Modern homes require more outlets than older ones due to the increase in electronic devices. Think about the locations where you’ll need outlets for lamps, kitchen appliances, and entertainment systems.
Another small detail is the type of lighting fixtures and their placement. Proper lighting can enhance the ambiance and functionality of your home. Additionally, think about storage solutions. Built-in shelves and cabinets can save space and keep your home organized.
Don’t forget about the choice of materials for countertops, flooring, and paint, as these will affect both the aesthetics and durability of your renovation.
The Clean Up
Once the renovation is complete, the cleanup process begins. This can be a daunting task, especially if you’ve been living elsewhere and return to a dust-covered home.
Plan for a thorough cleaning before moving back in. Some contractors include a final cleanup in their services, but if yours doesn’t, you might need to hire a professional cleaning service. Make sure to dispose of any leftover materials, old appliances, and debris properly.
Check with your local waste management services for guidelines on disposing of construction waste.
