Are You Sure You’re Ready to Take on a Home Renovation?

There comes a time in any homeowner’s life when they contemplate taking on a home renovation. Today I want to help you answer if you are sure you’re ready to take on a home renovation?

Are You Ready to Take on a Home Renovation?

Today I wanted to approach a subject that is often on the minds of homeowners who have lived in a house long enough to wish for more space or a space that is renovated to their needs and desires. Reading the rest of this article will help you decide if now is a smart time to start that home renovation project you’ve been thinking about.

• When is it time to take on a renovation?
• Will it be a good investment?
• Do I have the desire to deal with the stress?
• Can I handle upheaval?

I can tell you from experience that there are times when a home renovation is a smart decision and there are times when it makes more sense to deal with your home as is for a while.

I hope this article helps you make your own decision as to whether you are ready to take on a home renovation.

As a general contractor and a serial renovator, I can tell you the rewards of renovating your home are wonderful. But, the actual process can be a nightmare.

Do You Really Want to Renovate?

I’m going to be totally blunt about this, having your home renovated is NOT FUN. It’s a huge upheaval for you and your family. Having walls torn out or even just painted creates dust, chaos, and mess. You can forget about privacy because while the renovation is going on, workers (almost complete strangers) will be traipsing through your house. Even if you do the work yourself, you’ll have to cover furniture or move it out of the room being renovated. And if you need to pull permits, you have to be ready to have inspectors show up unannounced to inspect the work.

Depending on the room you are renovating, you need to make arrangements to avoid using that room. Where will the furniture go? If it’s in your kitchen, how can you cook and do dishes during the kitchen renovation? If it’s a bathroom renovation, do you have another bathrooms you can use while the one is out of commission.

How long will it take for the renovation to be completed? In today’s era of TV renovation shows, homeowners think a home renovation is a quick and easy process. I can tell you from lots of experience, much of the process on those makeover shows happens behind the scenes and off camera.

If I haven’t scared you off yet, let’s tackle some of the other factors that will help you decide whether or not you’re ready to take on a home renovation.

Are there Cheaper Alternatives to a Renovation?

Truly ask yourself if renovating a perfectly good kitchen or bathroom is a smart decision. Oftentimes, you can make your kitchen look like a new space by painting cabinets, replacing the backsplash, cabinet knobs, or other cosmetic changes. (Here are 10 Ways to Renovate Your Kitchen on a Budget) . Simply adding an island may be enough to make you fall in love with your kitchen again. Always explore alternatives before pulling the trigger on a full blown renovation.

Are You Planning on Moving?

The number one thing you need to ask yourself is if you are planning on living in your home at least 5 more years. If you are planning on moving in less than 5 years, chances are you won’t recoup the cost that you put into your renovation.

However, if the renovation is one that is sorely needed due to a room being outdated or in disrepair, it could potentially help you sell your home faster and for more money. Definitely consult with a reputable realtor before taking on a renovation before listing your house for sale. They will be able to tell you what comparable houses in your neighborhood sell for and the level of finishes that are common in the area. They may also be able to give you a recommended budget for your renovation. This is also a great resource for comparing cost vs. value on home renovations.

What Rooms Bring Your Biggest Return on Investment?

Kitchen and master bathroom renovations are the two areas in a home that give the best bang for your buck and allow you to increase your home value in a short period of time.

Putting in a swimming pool or an exterior building (like a shed) result in the least return on your investment. In fact, oftentimes a pool is a deterrent to buyers (especially young couples who already have or are thinking of having children.) You also have to factor in higher homeowner’s insurance premiums and the cost of operating the pool.

Locale is a good determining factor for exterior structures. Take into consideration your climate. Adding a garage isn’t necessarily a negative in certain parts of the country where weather is more extreme (snowy and icy climates.) In that example, a garage might be more important to buyers. In warmer climates that have a lot of insects, a screen porch might be a good investment for your home.

What’s Your Budget?

Before you embark on any renovation, it’s important to hire great contractors. I have an entire article with questions you should ask when vetting contractors. Always get several estimates before you make your final decision to renovate. Make sure you have money in your budget for the renovation. Always allow 15 – 20% over the budget for surprises or incidentals. You never know what you might find in your walls when they are opened up. If you don’t have the budget yet, save another year or so until you are ready to take on a home renovation.

Once you begin construction, keep a close eye on your budget. Make sure you aren’t splurging on too many high end finishes. If you are using a contractor or sub-contractors, be sure to keep tabs on the bill as they are working. Ask if you are still on target and within budget. It’s better for everyone involved to keep the lines of communication open.

Who Will Do The Work?

There’s no doubt that doing a renovation yourself will save you a decent amount of cash. However, if you DIY something that you aren’t knowledgable about, you may pay twice if you have to call in a professional to fix your mistakes. If you decide to do the work yourself, be forewarned that the renovations may take 3-4 times as long to complete. Professionals work with a crew and have the expertise to knock out that renovation in no time. Regardless of who is doing the work, make sure you check with your local city/county to find out if you need a permit. Don’t just take your contractor’s word for it.

How to Hire a Great Contractor?

If you decide to hire a contractor (or even a sub-contractor) do your research! I have an entire article on how to hire great contractors! I highly recommend you take a few minutes to read it, plus you should download these top questions you need to ask potential contractors!

Check to see if they are licensed and insured. Ask the contractor for several references of previous customers that you can call and ask questions. Check the BBB database to see if there are any complaints filed against the contractor. It’s also worth a small investment to check out their rating on Angie’s List.

If the background check turns up positive, work with your contractor to draw up a contract that spells out all the details of the job: time frame, work to be completed and any warranties on their work. My father likes to build in a clause where the contractor has to deduct money from the amount owed if he or she goes over a certain deadline for work completion.

How Do You Pick Out Materials and Fixtures?

Be sure to research your fixtures and materials as diligently as you did your contractor. Read reviews on brands and products you plan to use. Ask friends or neighbors if they have an appliance brand they love or hate. You can also ask your contractor if they have clients that have fixtures you’re considering and see if they would be willing to let you talk to the client. Avoid trendy or unique choices unless you plan on living in your house for decades. You may love that pink shag wall-to-wall carpeting, but will you still love it in 10 years? Or will that be the decision that comes back to haunt you when it’s time to sell your house. Use quick change objects like art, home décor and pillows to bring in that unique punch of color instead of things that are hard to swap out.

Who To Notify Before Your Renovation?

For starters, be sure you check with your city/county to find out if you need a permit. Check with your city planning office to see if you live in a historic overlay area. If you live in a neighborhood with restrictive covenants, discuss your renovation with the HOA board especially if you are adding on to your home. You may also want to let your neighbors know that there will be an increase in street traffic and noise during renovations. Discuss start and stop times with your contractor to keep the peace with your neighbors. After the renovation is complete, it’s important to talk to your insurance agent to let them know about the changes you have made. They will be able to make sure you have sufficient limits to cover the structure and contents of your home.

Congratulations! If you made it this far, you are ready to take on a home renovation project. I wish you all the luck in the world and remember to be flexible. Things can and do come up that are not exactly according to plan. But, the good news is you will make it through and you’ll have a beautiful new room/structure at the end of it.

Don’t forget to learn how to hire stellar contractors to help you make the home of your dreams.

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