Setting sights on remodeling a home or any part of a home has a lot to offer. Cost effective changes and updates can increase the value of a home. It can also set the stage for more comfortable living and curb appeal.
But what if you are a young homeowner? Often times, young homeowners have not experienced the challenges of home remodeling. They may find themselves a little overwhelmed once the process has begun. This isn’t surprising, as home remodeling projects can escalate out of control, even for the most experienced homeowner. Home designing and remodeling is tricky business. Owners will benefit from the input of professionals who can reputably walk the walk.
The good news is, according to Forbes, owners in 2016 whose budgets were not sharply established often spent thousands of dollars less on such home projects than those who tried to follow budgets to the penny. How could this be? Take a look at some of the remodeling tips to discover how.
Getting Creative and Making a Plan
There are thousands of home remodeling ideas out there. One of the easiest and entertaining ways for young homeowners to make a remodeling plan is to utilize creative online resources.
One such resource is Pinterest. Pictures speak a thousand words and offer incredible insight into what it takes to put a certain look together.
Various categories deliver valuable visuals for remodeling kitchens, baths, bedrooms and more. Other categories emphasize less expensive remodeling ideas or, before-and-after images to get creative juices flowing. This type of visual resource is very valuable to those who have a hard time envisioning a project’s end result.
Tune Out the Joneses
One of the biggest mistakes young homeowners can make is biting off more expense than their pocketbooks will allow. It is often called “Keeping Up with the Joneses”. Remodeling a home at any age or stage of life can be very expensive. Trying to obtain the best-of-the-best, the latest overpriced kitchen flooring or that Hollywood-style swimming pool and entertainment area is rarely a solid plan for young homeowners.
Think, less is more. Not only will the expenses of remodeling decrease, so will maintenance and insurance costs. This approach protects against the possibility of additional incurred costs sneaking up without warning.
Speaking of Insurance
According to Propertycasualty.com, there are various concerns remodeling will pose that command a good understanding of how insurance is involved.
Before choosing a contractor or signing any contractual documentation, make sure the general contractor is licensed and bonded. This will help protect both you and the contractor from unexpected expenses due to illness, bankruptcy, permit and building code problems, and other possible financial compromises the homeowner may come across to finish the job.
Homeowners should always ask upfront for a copy of all insurance and liability papers. Check coverage and effective dates to make sure coverage is alive from the start of home remodeling to the very end.
“This is the biggest mistake homeowners make,” says Alex Totino, president of ABC General Contractors, Stamford, Conn. “Only one out of 20 homeowners has ever asked to see my insurance certificate. Most are focused only on the price of the job.”
Honing in on remodeling projects that can be completed without a full-time contractor or remodeling professional is a great way to save money. Larger remodeling projects can be a collaborative effort. For example, custom showers require a plumber, an electrician, flooring, tiling and other necessities. Learning how to tile a backsplash or install shower fixtures begins to whittle away hefty hourly expenses the professionals charge.
Applying any of these tips toward home remodeling projects will help prepare even the least experienced homeowner for a smoother remodeling journey. Young home owners should also remember to ask questions, rely on reputable sources for answers and always research every project’s requirements before investing hard-earned money on anything.