What to Know Before You Start Your First Home Renovation

If you’re a new homeowner or entering the world of house flipping, you’ll eventually want to complete your first home renovation. It can be overwhelming trying to figure out where you should start to begin the process. To help, here are some tips on what to know before you start your first home renovation. 

Your Goals for Renovating Can Dictate Your Process

Your remodeling process will differ depending on whether your primary goal is making an investment or simply making your home more comfortable and stylish. If you’re renovating to flip your home down the line, that can impact your budget significantly. 

For example, home prices are affected by the local market. You will find that the possible selling price of properties in your community will typically be limited by the upper end of the price average. If homes are selling around $500,000 and you bought a fixer-upper around $400,000, you don’t want to go over $100,000 in your budget at the very max. Your goal will be to have the highest return on investment, or ROI, by keeping costs low and quality is the result high. 

Decide on a Budget

One of the essential aspects of renovation planning is determining your budget and committing to it. You should also set aside a cash reserve for unforeseen costs that can crop up and incidental expenses, such as checking into a hotel for a few nights.  Do plenty of research on new appliances, fixtures, paint, and more to find the best possible price. You may also find that more budget-friendly options work just as well as more luxurious items. 

Set Realistic Expectations for Your Timeline

However long you think your remodeling project will take, there’s a good chance it will take longer than that. You should prepare ahead of time and make arrangements to minimize irritation if your renovations are taking longer than planned. Before removing any current fixtures, appliances, or other materials, you should already have the replacements decided in advance. 

Keep Safety in Mind

The last thing you want is for anyone to get hurt while working on a renovation. Make sure you are comfortable using your equipment and keep areas adequately ventilated. You may want to consider staying in a hotel or other location while your renovation is taking place. 

Use professional contractors whenever possible if you feel uneasy about working on a project yourself.  If you’re hiring workers or having friends help you with exterior renovations, you should consider renting porta-potties and handwashing stations. Having handwashing stations available allows workers to keep sanitized and wash off any grime and residue that accumulates on their hands. 

Don’t be intimidated by the prospect of your first home remodel. With these tips and a little research, you’ll figure out exactly what to know before you start your first home renovation.

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