If you’ve just bought your property, or you’re thinking of selling, then it’s very likely that a remodeling project is on the agenda.
New owners can always see elements of their property that they’d like to change, especially after living there for a few months.
If you’re looking to sell, you will understand your home’s quirks and problems and be anxious to resolve those troublespots to ensure you achieve the best possible sales result.
In both scenarios, it’s essential to approach your upgrade with a focus on preparation and detail. As your local real estate agent, I have seen many owners dive into projects with insufficient thought to the complexity and potential cost.
With any remodel, there are likely to be bumps in the road. That’s why I will always advise my clients to put aside an additional 15% of the project cost for contingencies and not to assume contractors will meet all their deadlines.
In short, there’s an art and a science to remodeling your home. Here are my tips on how to approach your project:
- Spend time on planning – Think carefully about what needs to be done. If you try to make it up as you go along, you’ll have no end of trouble. Your contractors will be frustrated, your quotes will mean nothing and costs will spiral. The mantra of good carpenters is to measure twice, cut once. They know what they’re talking about!
- Don’t do everything at once – Unless you’re going to do a total rebuild and live off-site, then resist the temptation to fix everything at once. Creating and maintaining your home is a lifelong project. Don’t rush it, enjoy it.
- Where to start? – If you’re about to sell, then you should focus on areas of your home that will give you the best return on investment. Usually, that’s a bathroom or kitchen. As your local agent, I would be delighted to advise you on where you’ll get the best bang for your buck. If you’re in a new home, you might prioritize the room that is used the most or the one that needs attention, such as a bathroom from the 1970s.
- Seek out your style – New homeowners have the opportunity to put their stamp on their home. If you’re not yet inspired, then go to websites such as Houzz and Pinterest to check out house styles and interior designs. The possibilities are endless.
- First, build a budget – Don’t build anything before you build your budget. When the time is right, let your contractors know your cash ceiling. They will work within that constraint. Good builders will advise you on how to spend the money in ways that might not have occurred to you. Bottom line – have a bottom line, and don’t lose sight of it.
- Prioritize spending – As part of the budget process, decide whether you want the very best fittings and fixtures, or if you’re prepared to go down the mid-market path. This will shape your budget and the amount to be invested in construction work.
- Work with the best – Hiring your contractors is an essential part of the process. Obtain a minimum of three quotes based on a consistent brief. Question each contractor on their response. Check their licenses and insurances. As a rule of thumb, choose the person or company who makes you feel most comfortable. Personal referrals are a God-send.
- Be clear with your communication – This is a critical part of a successful remodel. Contractors appreciate a considered and honest approach, and they will respond similarly.
- Be flexible – Not everything goes to plan – that’s why I recommend 15% of the total cost being put aside for contingencies, such as broken pipes, or rotten joists. If you discover some big problems, then your deadlines could be in trouble, too.
- Quality control – Once the work is complete, do a walk-through and mark with Post-It notes the areas that you’re unhappy with. Discuss these issues, big or small, with your contractors before correction or remediation.
- Stay in touch – All building contracts and insurances should cover faults a year or even two years after completion. But it never does any harm to stay in touch with contractors as you never know when you might need to call them back.