12 May 2020

Three Important Considerations for a Major Home Renovation Project

The decision to complete major renovations in your home should not be arrived at lightly. There are so many important things to consider. Are these renovations necessary for safety reasons? Are you updating the home for your own pleasure? Perhaps you want to list the property on the market in the near future and certain upgrades will make it more attractive to potential buyers? Once you’ve decided to move forward, you need to prepare yourself for the entire process from planning to execution. Here are some things to keep in mind.

Choosing the Renovations 
Not all remodeling projects are created equal. You may want to completely transform your kitchen with the latest in technology, finishes and gadgets, but that may not be the best choice. Maybe your kitchen needs an update, you might be better served in updating key elements like the appliances or the cabinetry. If you’re making upgrades for a sale, you should consider improvements that offer a high return on investment. Make a list of what is most important and develop a scope of work with that in mind.

Hiring a Pro or DIY
You’ll need to figure out whether you’re going to hire professionals, do everything yourself or a combination of both. When considering major renovations, it may be wisest to consult the services of a designer and contractor. Of course, this will cost money, but these pros can help you realize your ideas in a way that is feasible, in compliance with local regulations and safety guidelines. You can certainly save money by doing some things yourself, but mistakes can result in costly repairs and delays to your overall schedule. There’s no guarantee that working with pros will be problem-free, but go with providers with good reputations and a track record of doing good work.

Paying for the Work
You should have a set renovation budget based on the funding available to pay for the work. If you can cover the work with allocated savings, that’s great. You may need to seek out a Texas lending home equity loan to cover all or part of the work. This allows you to borrow against the equity in your home. It’s a great option for major projects and offers lower interest rates than credit cards and signature loans. Home improvement loans from a county or municipality are another option for financing your remodeling projects.

A major house renovation is a serious undertaking. You’ll have to make important decisions regarding where to invest time and money. You’ll need to carefully plan and determine what to do, how to pay for it and how the project(s) get done.

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