Home renovations can provide a number of practical and emotional benefits. On the practical side, you could increase the value of your home, improve the functionality of your space, increase energy efficiency, and make your home healthier. On the emotional side, renovating your home is a great way to express your personal style and make your home feel more welcoming.
From creating a budget to deciding on renovation projects to prioritize, there’s a lot to consider when making home renovations. If you’re ready to transform your home, check out these tips from DMV Real Estate Resources!
Home Office Renovations
Whether you’re buying homes to flip or just trying to make your long-term living space more functional, designing a home office could be a great move. Adding a home office can boost your home value and make your home more conducive to remote work. Even if you don’t have a work-from-home job, a home office is a great place to focus on side projects and hobbies, free from the ever-present distractions in your household. Just make sure your home office gets plenty of natural light. If you need to set up your office in a dark room like a den, consider adding a window or skylight or upgrading the lighting to mimic natural light.
Receiving Estimates from Contractors
When you know how your contractors prepare estimates, you’ll be able to make an informed decision about who to hire for your project. You could even use this software yourself to calculate the various costs associated with your project so you can create an accurate budget. For example, general contractor business software helps contractors with designing, estimating, and project management. Some estimating tools make it easy to save project templates so they can be reused for future estimates. Click for more!
Budgeting for Your Project
Creating an accurate home renovation budget will ensure you’re able to complete your project without taking on debt or cutting corners to save money. To determine an accurate budget, you’ll need to research the cost of material, labor, and other expenses like permits and inspections. Remember to account for unforeseen expenses in your budget. For example, Bankrate suggests setting aside about 20 to 30 percent of the total cost of your project for the unexpected.
Investing in a Home Warranty
Before breaking ground on your home improvement projects, consider investing in a home warranty. Home renovations often uncover hidden problems, such as faulty wiring or HVAC issues. A home warranty will cover these unexpected repairs to home systems and appliances. This will offer peace of mind and financial protection during your renovation project. And if you plan on selling your home after you’re finished, a home warranty could increase your resale value! Get your home inspected for potential red flags to determine if a home warranty is worth it.
Keeping Peace With Your Neighbors
Communication and consideration are key to maintaining good relations with your neighbors during renovation projects. Be respectful of your neighbors and their property. You can do this by discussing your renovation plans well ahead of time and working with your neighbors to create a work schedule that best fits their daily routine. Try to keep dust and debris contained to your property, and always get your neighbor’s permission if you need access to their property for any reason. You may also want to offer your neighbors some form of compensation, especially if your renovation project is particularly disruptive. A nice bottle of wine or a gift card will go a long way!
Making home renovations can be a great way to improve the functionality and value of your home. Plan your project carefully to ensure everything goes smoothly and stays within budget! Adding a home office, investing in a home warranty, and using contractor estimating software are just a few steps that will make your renovation project a success. And be sure to compensate your neighbors for enduring all the noise and mess!
For help selling or renting out your newly-renovated home, contact DMV Real Estate Resources! We offer senior real estate services to take the stress out of pricing, listing, and negotiating real estate sales.
Written By Andrea Needham
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