Want to create a more open space for your living room? How about tearing down a wall to make a connecting walk-in closet to your master’s bedroom? Would you like to change the guest room into a playroom for the kids? Or maybe add a second floor since you’re adding numbers to the family? Ho! Before you make any remodeling plans, consider the following 5 steps to ensure satisfaction at the results.
The first step is to analyze the numbers. The question to ask before considering pushing through with remodeling plans is if the cost to renovate gets you a good return on your remodeling investment. A positive return on your remodeling investment depends on 3 factors – type and cost of renovation, market value, and home comparison.
The second step is to get ideas and trends. An important thing to know when making remodeling plans is to know what you want to do and want you to want to see in your house. Getting some ideas from home renovation trends and other home remodeling projects is always a good place to start. From the architecture to the types of doors and windows to the appliances to the furnishing to the plumbing to the landscape – all these can affect how you view your home.
The third step is to pick a remodeling design. This step in remodeling plans defines the specifications to be done on the project. This would list the room size and room type, layout, plumbing, flooring, types of doors and windows, landscaping, etc.
The fourth step is about financing. This is important to remodeling plans. Home equity lending for home loans and equity credit lines need to be approved should you not have enough to finance it for yourself. These loans are only approved depending on 4 factors – home appraisal, your credit rating, qualifying debt-to-income ratio, and your current employment.
The fifth and final step is managing the construction. At the start of implementing the remodeling plans, the homeowner should hire a builder to oversee the project. Most people that want to renovate their homes put a great amount of trust in the builder’s judgment and experience in carrying out the plans. A high level of communication and participation is needed between the builder and homeowner to make sure that everything is done is up to par.
These 5 steps are pretty much the guideline for people who want to renovate their homes. Doing these 5 steps and following through them all can pretty much guarantee the homeowner’s satisfaction with the implementation of the remodeling plans and their end results.
