Important Things to Consider When Planning a Home Remodeling Project

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Important Things to Consider When Planning a Home Remodeling Project

There are a number of important things to consider when planning a home remodeling project. The first thing to do is to identify your home’s assets and untapped potential. Think about what you would like to add to your home and look at other remodeling projects to get some ideas. For example, you may want to add another bedroom or a larger master bathroom.

Next, determine your budget. This budget should include the cost of permits, building materials, labor, and decorations. You should also allow 10% for any unexpected costs. A detailed plan can help you stay on budget and eliminate elements that aren’t a priority. It can be useful to work with several contractors to find the most affordable option within your budget.

Another important thing to consider is the order of renovations. Some projects may require a structural engineer, especially if you want to add another story to the home. Depending on the scope of the project, you may need to move to a temporary residence while the renovation is taking place. Additionally, some projects may require additional exterior work.

A major renovation project will increase the value of your home by as much as 60 percent. However, minor renovation projects can increase its value by 50 percent. While this is great news, you should also be sure to research the cost of a major remodeling project to ensure that you get the most bang for your buck. Often times, home remodeling projects are less expensive than buying a new house.