However, you may choose to add a clause in your cost-plus remodeling contract that pays a bonus if the contractor completes the project early or under budget. This is more an incentive than a show of appreciation, and can be a percentage of estimated money saved or a flat fee, perhaps $500 to $1,000 for a major project like a large kitchen remodel.
Home renovations have been some of the most exciting, but also most trying times in my life. My biggest advice is to just know yourself and what you’re cut out for, and don’t get in over your head, budget-wise. No beautiful home is worth the anxiety that comes along with consumer debt! If you have the extra money, it’s worth saving yourself the stress and hiring out the work, as long as you found someone good and trustworthy—otherwise it may equal even more stress! Sometimes homebuilding also equates to character building, and I’m talking about personal growth here, not investment growth. But the two aren’t mutually exclusive.
Shop around quite a bit before hiring professional help with your project. Elsie has mentioned that in order to save money, she didn’t use a general contractor initially when renovating her home. This ended up causing a lot of stress because of all of the organization involved with using different skilled workers in a project. You should check out the post she wrote about renovation mistakes, especially the parts about hiring out help. I don’t have too much experience with that aspect of home renovations, though I did hire someone to lay the stone veneer for our fireplace and also hired a crew to do some subfloor work and drywalling when I was too busy to do it myself last summer.
I really want to remodel my bathroom later on and I wanted to look up some ideas and tips on how to go about it. I didn’t think about adding recessed lights with some over the mirror as well! Having a dimmer would be a really nice thing to have in the morning as well when everything is too bright. That’s a great idea. Thank you so much for the tips and ideas!
If you’re house hunting for a fixer-upper, look out for moisture issues, foundation concerns, and bug infestation. These are the top three nightmares where renovation budgets are concerned! Have your home inspector check walls with a moisture meter, particularly around entryways were wood rot can be a concern. If you can do the inspection after a recent rain, that’s even more informative. Cracks in the foundation may be due to settling, but they may also indicate problems with the foundation which are extremely expensive to correct. When getting a home inspection, you’ll have to decide if you want to pay an additional fee for a bug inspection, but who wants to find out halfway through a renovation that you have carpenter ants or termites? Nobody! It’s worth the extra expense upfront.
Most en suite bathrooms are attached to the master bedroom, but there may be exceptions depending on the layout of your home. They are meant to be more private spaces than guest bathrooms, allowing you to put a more intimate or creative touch to this space. They are convenient due to their proximity to the bedroom, helping you maintain a comfortable amount of privacy. Dating back to the 1960s, en suite bathrooms have become commonplace in the modern home. You can add simple or elegant upgrades to your en suite bathroom to make it a distinct selling feature. If you don’t currently have an en suite, you can add one by converting a large closet or building onto the bedroom.
Eighty-six the old-school appliances for sleek new energy-efficient ones. An appliance with an Energy Star label has been certified by the government to use 10-50 percent less energy and water than conventional appliances. Matching stainless appliances will not only look great now, but will make your home shine brighter than the competition should you decide to sell.
"A remodeling project is going to affect every room in the house," says A. J. Paron-Wildes, general manager of DreamMaker Bath & Kitchen in St. Louis Park, Minnesota. "The homeowners need to take down pictures, move vases, and pack away valuables before work begins." While you're at it, take steps to protect your immovable fixtures, including built-in cabinets and chandeliers. Have flooring covered with cardboard sheets if it needs to stay in good condition.
The look of your front door and entrance play heavily into the overall curb appeal of your home. As visitors enter, the front door serves as the transition into your home and is part of their first impression. Entry doors are architectural components that should complement your home's overall design, not detract from it. If your existing front door isn't up to par, head down to your local home improvement store for a more energy-efficient and attractive replacement. Whether you choose a solid wood door or one with decorative stained or cut glass panels, a welcoming entrance will definitely increase your home's bottom line.
Upgrade your standard water heater for a tankless model. Most old-fashioned water heaters keep 50 or so gallons of water hot, seven days a week, 24 hours a day, whether you use the water or not. Tankless water heaters heat only the water you need as you need it. Not only will they save you money now, but they're an eco-friendly and cost-effective update that today's homebuyers are looking for.
You would be surprised at the number of inexpensive yet quality products you can purchase to renovate your bathroom. If you are looking to install new toilet fixture you can check our Toto Toilet, and if you are not planning to install any new items, you can fix up your existing toilet by changing the paint, changing cabinet paints and by fixing the pressure of shower etc.
That’s a big project! But I can see how it would make sense to tackle it. I know how to budget for many of these things that I’ve done because of past experience, but you can price out materials and labor if you know exactly what your’e doing before you do it. If you are figuring it out as you go along, it’s trickier to budget. I also have a degree in interior design, so a lot of this stuff was part of my education, but truly I learned the most by just working on stuff. You live you learn! I would get online and see if there are forums where other people who’ve tackled similar projects can give you some insight. The internet is such a valuable tool for this kind of thing and people are usually quick to be helpful and share experience!
It might sound simple, but paying for your project with money you already have will save you a significant amount of money you’d end up paying in interest if you take out a loan or put things on a credit card that you can’t immediately pay off. If you’re renovating in order to sell your home, it might make sense financially to take out a loan when you know there will be a return on your investment and the loan will be paid off quickly. But in general, paying in cash is the best way. If you can’t afford it now, begin thinking about ways you can trim your household budget to save money for your project.
Hands down, one of the biggest returns on investment comes from a kitchen remodel. Most experts agree that if you plan on updating only one room in your home, it should be the kitchen. Large, open kitchens have become the social hub of the modern home. High-end touches like granite countertops, richly stained custom cabinets and energy-efficient stainless appliances are the gold standard in modern kitchens. Experts agree that kitchen remodels return an average of 80 to 85 percent of every dollar spent. You can expect an even higher return if you are remodeling a really outdated kitchen.
Dear Debbie: Tipping isn’t the standard in the home services trades, as it is in the restaurant and personal grooming trades. Still, it’s a question many homeowners wrestle with. To help answer it, Angie’s List recently polled nearly 5,000 home service professionals across the nation to find out if they expect a tip and if so, what they tend to collect.
Finally, what's on your ceiling? Few structural elements date a house more than popcorn ceilings. So dedicate a weekend to ditching the dated look and adding dollar signs to the value of your home. This is a project you can tackle yourself. First, visit your local hardware store for a solution to soften the texture, then simply scrape the popcorn away. Removing a popcorn ceiling may not seem like a big change but one of the keys for adding value to your home is to repair, replace or remove anything that could turn buyers away.
Learning which items to spend your money on goes hand-in-hand with making a realistic budget and determining a sensible scope of work. The earlier you can make this determination, the more likely you will stay on track with costs. Think about which items you will use most frequently, as these are products that might be worth the higher price-tag. If you're on a tight budget, you might want to save on cosmetic finishings, as these items can be easily changed with time.