Home Renovation. Tuesday , September 25th , 2018 - 04:43:35 AM
Home renovation should be divided into two separate categories, want and needs. So before you consult a home improvement contractor sit down and make a set of lists. One list of what type of renovations you want done on the house and a list of home improvements this old house needs the most. There's no since in doing a kitchen renovation if the roof above it leaks. You don't want to do a wiring upgrade if you can't afford to upgrade the electrical service. You shouldn't tile the bathroom floor if the joist and subfloor needs replaced. Sure I want to renovate the kitchen, but I need to put the much needed roof over it. Will my home improvement budget allow both? This is true with the wiring need and the bathroom floor need.
You might have thought for a long time and realised that it's time to make some home renovations. You already have a general idea of what you want to do with your house, including the floor plans for each room. Everything has to be planned in detail because the time and effort put into home improvements is major. Home renovation costs can get out of control if you do not analyse the details and make a general materials list without having a strict strategy. Here are some tips that you can follow once you decide to carry on some building and home renovations:
Value engineering in respect to home renovation is the process by which you analyze to determine what renovations will bring in the most profit for your home. Determine the market value of your home as well as market value of renovated homes similar to your home in your area. This is done to find out whether there is any room to profit. If the price for your un-renovated home is close to the price of a renovated similar home nearby, renovation could be a waste of time and money. Remember, the key words are "similar homes" and "in your area". There is no point comparing your home that is built on a 20 x 100 parcel of land to a home built on a 5 acre land as you are not able to stretch the size of your land. Also the comparables that you choose must be near your home, preferably on the same street or just few homes down the road from your home. You can obtain market value of these renovated homes from your local real estate office or from a qualified appraiser.
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