Managing a home renovation project is no small feat. From estimating a budget to reaching out to the right contractors, there is a lot on the plate for one person to handle. But don’t fret, as this article by Robert Realty is here to help with an in-depth guide on how to tackle your next home renovation project in a timely and organized manner.
Step 1: Estimating the Costs
The costs of home renovations can vary from around $1000 for minor projects to well over $100,000 for full home remodels, as reported by the Remodelling Calculator. In addition to labor costs, you’ll need to account for a host of other expenses, such as – purchasing raw materials, permits, insurance, and consultation fees.
One of the best ways to keep costs in check will be to conduct online research regarding the typical cost of projects you plan to undertake. Next, reach out to reputable contractors in your vicinity to receive bids for your renovation project. Compare their prices with your research and negotiate a deal that works in your favor.
Step 2: Create a Renovation Schedule
Before committing to any project, take the time to establish a tentative schedule. There are many factors that will influence your schedule, such as:
- The size of the project
- The time needed to gather all required tools and raw materials
- Labor requirements
- Location for your home. This has a major influence on how fast labor and materials can be transported.
Additionally, factor in the time needed to secure permits. Typically it can take a few weeks from the date of submission of the application for the permit to get granted. Hence, it’s best to apply for one before connecting with contractors. Furthermore, remember to include milestones in your schedule that are time bound and measurable. This will help to keep contractors accountable and follow time constraints.
Step 3: Hire a Trustworthy Contractor
Depending on the project, you’ll need to hire a general contractor or a specialist. Regardless of your need, it’s important to conduct thorough research to ensure the contractors in question have good reviews, are experienced in managing similar projects, and have all the necessary licenses/accreditations.
The Better Business Bureau is a great resource through which you can check a company’s history and accreditations. In addition, reach out to your network to gather suggestions regarding contractors, schedule interviews, and receive estimates for your project.
Step 4: Ask Contractors to Use Modern Applications
When it comes to managing a successful home renovation, all details need to be accounted for down to the T. And the best way to achieve this is through using estimation software. For instance, if your project involves repairing your home’s electrical systems, look for contractors that use electrical contractor software, using which they can create accurate estimates and manage all aspects of the project in an organized manner.
Ask your contractor to use a takeoff tool so that you can see a mock up of what they are proposing, along with some estimates. This tool can be a key to success when trying to communicate effectively with your contractor and ensure that what you have said is what they are planning to accomplish.
Step 5: Purchase Home Warranty
As mentioned above, undertaking home renovation can be a costly ordeal. But, you are bound to reap the rewards of your investment for years to come. Whether it be through a better floor plan, improved amenities, or a newly made outdoor area that can now be used to host gatherings and relax after a long day of work.
However, one of your goals post-renovation should be to keep costs in check. And purchasing a home warranty will help you do just that. A home warranty is an annual contract that covers the cost of repair or replacement of major home appliances and other home features. If required, you can add garage door coverage in your home warranty as well!
If any major appliance does stop working post-renovation, instead of having to pay hundreds if not thousands of dollars out of pocket, you’ll be able to claim the expense through your home warranty plan.
Make a Plan for a Successful Renovation
Home renovations are always challenging to deal with. But, with some careful planning and contractor software that ensures clear communication, it becomes much easier to manage. Additionally, purchasing a home warranty will help safeguard your finances and prevent the need of spending big on appliance replacement in the weeks following your renovation.
Are you looking for a new home or renovate? Or are you renovating with the intention of selling your home? Either way, let Robert Realty help you with your buying and selling process.