Home remodeling and renovation are terms used to describe the projects that you can undertake to improve the look and functionality of your house. This type of project involves transforming the interior and exterior of your home and adding new features. It can also be used to improve the value of your property. Here are some tips for remodeling your home:
Renovations Are Cheaper Than Remodeling
While the price of a new kitchen or bathroom is undoubtedly more expensive than a renovation, the costs are usually lower, too. The “unseen” costs of renovation projects vary greatly. While labor is a well-known expense, different types of labor are priced differently. Electrical and plumbing work, for example, are frequently expensive. These costs have also increased due to safety and certification requirements. Ultimately, homeowners should ask themselves if they plan on staying in the home for many years.
Major home renovations disrupt your life, but they are significantly cheaper than buying a new house. In addition to adding comfort, major home renovations improve the energy efficiency of the home and increase its value. However, major renovations are not for everyone. They can be a major undertaking. For those who are worried about the costs, they may opt for a renovation loan. In this way, they can add value to their property without requiring relocation expenses.
Costs Of Home Remodeling
While it’s no secret that home remodeling projects can cost tens of thousands of dollars, it can also be surprisingly affordable. Increasing home values are making renovations more affordable than ever. According to Black Knight, a mortgage technology company, the average homeowner could gain $48,000 by 2021, an increase of nearly three-quarters from the previous year. While rising home values could be one of the primary reasons for increased remodeling costs, other factors are also contributing to the overall increase. Supply chain problems and increased labor costs are just two of the many factors contributing to the rising cost of home renovations.
While the costs of materials are easy to estimate, the costs of labor are often unanticipated. Most people overestimate the labor costs, which can be as much as 36 percent higher than the final total. You can read the full results of this survey by clicking here. Keeping these factors in mind will ensure that your remodeling project remains a budget-friendly project. You can also avoid the pitfalls of DIY projects that lead to unexpected costs by working with a professional.
Choosing A General Contractor
The first step in hiring a general contractor for home remodeling is to ask for references and a list of past clients. A general contractor might specialize in one specific type of home renovation or may hire subcontractors to handle particular aspects of a project. Ask for information on their business licenses, insurance, and whether they have a policy that covers their subs’ work. If you’re unsure, ask them to bring a portfolio of past projects to show you their previous work.
To choose a general contractor, start by determining what kind of project you have in mind. If it’s a small, specific project that doesn’t require a significant amount of structural changes, a contractor that specializes in this type of work should be enough. Larger projects may require an architect or structural engineer. Designers can also do some work that contractors and architects can’t do. Check for certifications from professional associations like the National Kitchen & Bath Association, the Remodeling Industry Association, and the Homebuilders Association.
Hiring An Architect Or Interior Designer
While you can hire any professional you like for your home renovations, hiring an architect or interior designer is definitely an investment. You can expect your contractor to submit requisitions throughout the remodeling process, and your architect will be the one to oversee the work, keep track of payments, and keep an eye on the contractor. They can also assist with the punch list at the end of the project. This is something most homeowners don’t think about when hiring an architect, but it’s worth considering for your home remodeling project.
Architects are specialized professionals who work on residential projects and often supervise construction contractors. They write contracts for contractors, research building codes, and supervise construction. They can even redraw plans should any changes be made after the contractor begins bidding. Although an interior designer is not required to have architectural training, they tend to have previous experience working in architecture firms. While this is certainly a personal preference, it’s a smart decision if you want a home that’s beautiful and fits your lifestyle.