Unless you have just moved into a brand new, custom-built home, you’ve probably thought about doing a little renovation on your home. Over time, a home’s appointments tend to become less perfect as families shift and change. However, put the brakes on a renovation until you have thought about these three things: Can you afford the work? Is the time right? And, do you have the time to deal with having your home in an uproar during the renovation?
Can You Afford To Renovate?
According to Jay from The 2 Men Property Services there are options for raising the capital for a renovation if you don’t have all of the cash required on hand. If you have equity in your home and you expect the renovation to raise the value of your home, getting a loan can be a very smart idea. However, before you start picking out crown moldings, spend some time running the numbers. Sticking to a budget isn’t easy but absolutely necessary or you could blow out your expenditure
Even if you really want to redo your home, you should not until you have a solid plan in place to pay for the job. Otherwise, you run the risk of running out of cash part way through the home renovation, and that is not a good thing. Move forward once you have a clear renovation plan, money budgeted for the essentials, and a contingency fund in case things go south.
It It The Right Time To Renovate?
Before you renovate, you have to ask yourself some hard questions about your future plans and know what state regulations allow. Will you be in the home long enough to enjoy the work if the renovation doesn’t add value to your home? What does the housing market in your area look like? And, will the renovation fit into your personal plans for the next few months?
In addition to those considerations, you should consider the seasonal nature of renovation work. The warm weather months are the busiest times for building contractors. If funds are tight, the right time to do your home renovation might be during the off-season. Contractors often dramatically drop their rates to keep the funds flowing into their business.
Do You Have The Time To Deal With A Home Renovation?
One thing is certain. During a home renovation, your life will be devoted to dealing with all the problems that arise with it. Even when the job is well planned, you will be living in the midst of chaos until it is complete. Conditions like these tend to eat up your time.
On the other hand, there is never a perfect time to turn your home upside down, so keep a realistic point of view. If you think you can deal with the upheaval, and you don’t have pressing emergencies, you should consider taking the plunge and getting the work done.
So, keep putting those Pinterest boards together, sit down with a contractor, and get the ball rolling if you’ve answered these questions truthfully and still want to redo your home. You’ll wonder why you every decided to do it when you are in the middle of it, but will love the fact that you did as soon as it is complete.