You love your home but it’s in need of a makeover. You’re ready to move and want to increase your property value. You want to assure that your home continues to adapt to your family’s changing needs.
First things first.
THE PLAN
What’s on your wish list? A heliport, indoor pool, rock-climbing wall. Ok, maybe not. Perhaps you’re adding a sunroom, building a library or creating a chef’s kitchen.
Are you working within your home’s current footprint or do you want to add a room or second story?
You should enlist a real estate agent to understand the market so you don’t over-improve. Once you have made a plan, do research or talk to a realtor to see what sort of return those improvements may bring. Some improvements will add considerably more value to your home than others.
Your project’s size and scope will determine how much demolition and rebuilding are needed.
To minimize surprises, prioritize your goals and get very specific.
THE BUDGET
Decide how much you want to spend before you start. However much research you do, expect your renovation to cost more than you anticipated. At least 10% is a good estimate for change fees. Luxury touches and customization affect the bottom line. They also tend to have long lead times.
You will fare better if upgrades are made intentionally and not on impulse. Home improvement projects cost about 20 to 25 cents on the dollar. The other 75 to 80 cents spent go directly back into the home through increased value.
Time is money. Budget for a couple of months of permitting and planning and at least a 30% delay in construction time. If you need to live somewhere else during the process, factor that in too.
If you’re working with an architect, understand how their fees work. That includes change orders and fixtures and finishes
Use a budget calculator for a rough estimate of costs and to help you plan. If you’ve never done a renovation or build before, the cost may come as a bit of a shock. The whole point of this exercise is to be realistic about what you can afford and to prioritize your goals. If you think you’re about to blow your budget, you should review the scope of your project now.
THE PROCESS
Hiring a design-build firm may be your single best decision, making the whole process simple and stress-free. Your professional team will help you design and select the best solutions for your project. These experts will handle the dizzying job of managing permitting, plumbing, electrical, and carpentering. More importantly, a design-build firm will help manage you and your budget, keeping you on track, on time and on budget.
Undertaking a whole home remodel can be daunting. But with a professional design-build firm, your remodel can be stress-free and rewarding.
