Remodeling before a sale or immediately after you’ve bought a property can be a great investment, but it requires careful planning and detailed execution.
These are not projects that should be rushed. You’ll have plenty of money on the line, and your selection of design, materials and contractors will be critical to a successful outcome.
Here are some valuable tips that should minimize your inconvenience and help constrain costs.
Quotes and time
Seek a minimum of three quotes for the work. Be clear and consistent with each contractor, or you’ll find the estimates are impossible to compare. Ensure they quote not just the cost but the amount of time required to complete the job. If it’s a significant upgrade, you might negotiate a penalty for broken deadlines.
Who’s the boss?
The buck needs to stop somewhere. Couples will no doubt say they’ll make decisions together, but that’s not that easy. For example, who will be the first contact for a contractor when a problem arises, or when a decision needs to be made quickly? Share the vision of the project, but nominate who’ll deal with day-to-day issues.
Take your time
With building, the devil is in the detail. So, go slowly and plan carefully. Give yourself a timeline that allows you to seek advice from an architect or builder, as they will make positive contributions.
Don’t fade
Remodeling can be exhausting, and it’s easy to lose your focus on the details. If and when you feel this is happening, take a breath and stay determined to last the course. That way, you’ll achieve the dream home you planned.