Three Questions to Answer Before Remodeling in 2018
By Bianca M. Strzalkowski
As the calendar changes to January, people take inventory of their lives to assess what they can improve or change. But resolutions aren’t restricted to an individual. The new year is also a prime time to evaluate the needs of a house and office. It is important to remember the business of improving your space is a marathon, not a sprint.
Before you deep dive into a renovation plan, answer these three questions to ensure a maximum return on your investment in 2018.
Why do you want to remodel?
There are several scenarios that put a homeowner on the decision-making path to remodeling:
- The home needs more functionality because the current floor plan does not work for your needs. For example, you cook more than you did when you were a bachelor, so the kitchen needs to be refigured or upgraded to accommodate more time in this room.
- Your family has outgrown a space by humans and/or pets. Maybe the twins sharing a bedroom worked when they were toddlers, but as teenagers they want privacy and more closet space.
- Your square footage needs to be reworked in a bigger way. One common challenge faced by families today is caring for older loved ones, such as an in-law or a grandparent moving in. In this case, the man cave in the basement may need to be transformed into a bedroom suite.
- You want to add value. Whether you are planning on putting your home on the market this year or in the future, the timing may be right for your budget to add another bathroom or closet, or to upgrade flooring.
What is the priority?
Remember in the beginning, we said renovations are a marathon, not a sprint? It is easy to want to do everything at once. Your home is a place of pride where you likely spend a good portion of your time. But you want to avoid getting ahead of yourself, especially for budgetary reasons. This is why it is helpful to take advantage of a free in-home consultation with an expert who can help you talk about your vision. They can provide a rough estimate of cost, timeline, and pros and cons of what you’re proposing.
How much do you have to work with?
Quite possibly one of the most important pieces to this puzzle is the budget. The monetary aspect of a renovation is where planning becomes so important because a detailed strategy—and design—can assist you in forecasting what you’re going to need financially. Plus, always account for those unexpected costs that can arise. Once you start digging into a home, there is a chance that other issues will be uncovered that have to (or should) be addressed.
Also, the budget isn’t written in stone. What does that mean? It can be quite rewarding to find ways to reduce costs in one area so that you can spend more in another. Or you can invest money on the front end to save on expenses at a later time, such as purchasing appliances that decrease utility bills or that are a tax write-off for being green.
Before you set your home improvement resolution, be clear on the objective. The clean slate of a new year often opens consumers to impulsive changes in their lives, which can include setting themselves up for failure if a carefully mapped-out plan isn’t created at the onset. HPI offers a free in-home estimate with a professional who can offer expert advice and a realistic picture of the numbers associated with your wish list.
Learn more about how our company delivers the type of results that motivate 60-70% of our clientele to ask for more services: HPI Blog.