Most home remodeling projects start off as simple affairs that can morph into extensive projects. What may start as a modest project to install new hardwood or refinish your floors can easily turn into a full home remodel. While renovating your home may be more affordable than buying a new house, it is critical to plan out your project properly. iRemodel Home Renovations has 7 important factors that every homeowner should keep in mind to keep your project on track and within your budget.
Will You Hire Professionals or Do It Yourself?
With any home renovation project, you will need to decide early on if you plan to complete the work yourself, hire a contractor, or a mixture of both. With full home renovations, unless you are a contractor yourself, chances are you will need to hire professional tradesmen. There are many levels of professional contractors ranging from handymen to union contractors. Depending on the scope of your work, you will need to decide which type to hire and how much you plan to budget for their labor.
For projects that will require the use of an independent contractor, there are ways to help offset expenses. Many contractors will prefer to use their own people on a job, but if you want to pitch in yourself, you can cut cost. Leave your tasks for the end or make sure that the work you plan to do on your own will not hinder the contractor’s progress.
Plan Your Budget & Funding Source
Renovations can be costly, especially when you are making changes to every part of your home. To keep your project on schedule and to avoid any budget-related issues, make a plan to fund your project. You can opt for a traditional home equity loan, simple sweat equity, or even use a portion of your savings. Whatever you decide, make sure that you stick within your budget to avoid going into debt or delaying the completion of your project.
Consider the Value
Renovating your home will allow you to create a living space perfectly suited to your needs. With that in mind, you should select changes that will also increase the value of your home. Most people will sell their home at least once in their lifetime, so if there is a chance that you will move at some point, your changes should increase your sales value.
Be a Good Manager
Renovating an entire house brings with it several different people to work on each aspect of the project. Even if you hire a company to oversee your renovations, you will need to be comfortable managing people and crews to get your project completed on time.
Think About Cutting Cost
Remodeling will cost a pretty penny so you should think about cutting extra cost whenever possible. There are commissions, interior design service fees, and even credit card purchases that can make your project get more expensive before you are even halfway complete. Thankfully, many money-saving methods can help you save in every area of your home.
Know Your Permit & Zoning Needs
Permits are probably the number one schedule killer of any renovation project. If you know that you plan to make a lot of changes, you should get approval well in advance of your project start date. Approval for zoning changes, home additions, or other large-scale projects that can take weeks or months to come through.
Be Clean, Be Safe
Depending on the age of your home, you may want to check for lead, asbestos, or other harmful agents prior to starting your project. It is also a good idea to make a plan on how to keep construction dust and debris from spreading all over your house.
How We Can Help
iRemodel Home Renovations are the renovation specialists that have served the Toronto area for generations. If you are seeking advice or a crew for your full Toronto Home Renovation project, we are here to help. Give our office a call at (416) 825-2542 to find out more about our services.