In my most recent article, I covered some considerations for homeowners before renovations begin. But, there’s more…
It seems obvious, but consider if you can really afford to renovate. You really need a clear idea of what the costs will truly be. Be sure to get at least two quotes from reputable local renovators or materials suppliers. You can explain exactly what you want to do and ask if there are any options to what you have in mind. Take the best quote, then add 10 to 15 percent for unexpected costs – it’s best to be prepared!
Keeping in mind the returns on investment for renovations in resale from my previous article, it is an important step for you to discuss the financial implications of your project with your realtor.
If you need financing, you could possibly renegotiate your mortgage or apply for a personal loan. You may be eligible for assistance through government incentive programs for energy-efficiency upgrades.
Are you a do-it-yourselfer? Many homeowners decide to do their own renovations- ensure that you get the necessary permits, follow local building codes and have the work inspected by the local municipality.
Before deciding to definitely do it yourself, consider the costs of drawing up your own plans, getting your own permits and scheduling inspections. Do you have the skills to complete the job in the same way as a skilled tradesperson? Homebuyers will value a ‘professionally finished’ recreation room over one finished in an unprofessional manner.
Wiring, plumbing or heating systems are definitely best left to the
professionals- this kind of work must be inspected by certified tradespeople.
Then there is the question of tools and other equipment. If you don’t own them, you will need to rent them.
The stress and time involved in completing a project on your own is considerable. If you are up for the challenge, great! But, for most of us, contracting-out is the best solution. It is extremely important for you to choose the right renovator.
Your local handyman can handle small jobs. If you’re looking at a larger, complex project, you need to consult a full-service renovator, architect or design firm. You can ask for a consultation, or hire them for the entire renovation.
Professionals can draw up plan and layouts, hire a contractor for you, obtain zoning approvals and building permits and supervise the progress and quality of the work as it is completed.
Look for local companies who have been in business for a few years. And, I always like to stress, ask for references! Happy customers are the best recommendation. You could even ask to see some of the renovator’s previous or current work.
Ask for recommendations from:
- Your friends and colleagues
- Local building supply and hardware stores
- Local home builder and renovator associations
- Better Business Bureau
- Municipal building departments
- Satisfied people who have recently completed a renovation
Ready to get started? Not yet, there’s even more to consider-
Tammy Dufault
Century 21 BJ Roth Realty Ltd.
