You've made many happy memories in your home over the years. However, as time has passed, your requirements for the perfect home have likely changed, leaving you wondering if your current home is the best fit for you in the future.
As the economy is continuing to improve, you've likely seen a number of friends and neighbors investing in home remodeling to enhance the functionality of their homes and allow their properties to grow with their changing lifestyle needs. If you love your home, making the decision to remodel is a great alternative to moving elsewhere. However, how do you know when you're really ready to move forward with a remodel?
What exactly do you want to get out of the project?
Your friends are all inviting you over to see their latest home remodeling projects, whether it be an incredible covered porch off the back of the house or the addition of a master bedroom on the main floor of the house. While the outcomes of these projects may all be exciting to you, you need to think about how a remodel at your own home could most benefit you. Is your goal to expand your outdoor entertaining space? Or is your dream to finally have that chef quality kitchen? Be sure about what you want to accomplish with a renovation to your home.
Determine your budget.
Make yourself familiar with the local ballpark prices for the type of renovation that you want. As you can imagine, these costs can range widely depending on the contractor that you choose and the materials used.
Once you determine how much you will need to set aside for your home remodeling project, it may be a wise decision to speak with a bank about financing options. Interest rates continue to be at historically low levels, making this an excellent time to consider a home remodel if you plan to finance the project.
Are there less expensive ways for you to complete your home renovation?
For example, if your goal is to have a main floor master, would it be more advantageous to your pocket book to convert an existing room in your home--your garage, for example--to serve as this space? It's smart to think outside of the box about all of the ways that you could accomplish your home remodeling goals before pulling the trigger. You could potentially save yourself thousands of dollars.
Get the right team in place.
Depending on the scope of the project, you'll want to line up a good architect so that you will have an end-product that looks like it's always been a part of your house. You'll also want to interview home remodeling contractors to find one that has a great reputation and expertise in the project that you want to take on. Of course, you'll want this person to also be bonded, licensed, and insured.
While it seems that everyone may be jumping on the home remodeling train these days, it's best to really think things through and determine what you really want to accomplish with your home renovation before getting started.