The Journey to a Beautiful Home
If only we could snap our fingers and our dream home would suddenly appear. In reality though, creating the perfect home takes time, money, energy and most importantly...planning.
Before selecting new paint colors, fixtures or which wall to tear down, consider these first steps when planning for a successful home renovation.
STEP ONE - Specific Plan in Place
What do you hope to accomplish? Whether you're looking to add resale value or simply have better feng shui in your home, it's important to determine your goals. Not every renovation offers a good return on investment. For example, putting in a swimming pool sounds great but it only boosts your resale value by a maximum of 7%.
Having specific goals and a plan in place will help you determine how far you want to take your project.
STEP TWO - Understanding Your Limits
Sure...those home renovation shows make it look easy but in reality they're the experts for a reason. Do it Yourself (DIY) projects are great for saving money and even offer a sense of accomplishment but when done incorrectly, can really create additional problems. Knowing which tasks to safely complete and which jobs should be handled by the pros will save you a lot of heart ache.
When selecting a pro, be sure to ask for references and a copies of liability insurance. Don't solely rely on client testimonials.
STEP THREE - Creating a Budget
Creating and sticking to your budget is a very important part of renovating a home. Not every renovation goes as planned so be sure to add a contingency fund for those unexpected costs. Homeowners should be budgeting at least 20% over the estimated cost of the renovation. You may want to consider less expensive upgrades as well in order to keep the cost down.
STEP FOUR -Creating a Supplies Checklist
How many times have you visited a hardware store to get supplies only to find once you were home, that you had forgotten something? Creating a supplies checklist will help you keep track of items you'll need, prevent those back and forth trips, and help you stick to your budget
STEP FIVE - Protecting Children & Pets
A home renovation can spark the interest of children and pets. Be sure to keep your area safe from hazards. You can do this by installing child safety gates, adding electrical safety covers to outlets and power strips, and by storing sharp tools out of reach.
Unlocking Your Home's Potential
Ready to make those much needed home repairs? For a limited time, Beacon Credit Union is offering incredible rates on Home Equity Lines of Credit. In addition, Beacon will pay your closing costs up to $500*. Learn More