Tuesday, February 14, 2012

Move or Invest In Your Home

You've contemplated a move, looked over homes on the market, and then re-looked at your current home, and think, maybe it was best to stay put and invest in a home renovation. Before you start,  there are some key considerations you should really sit down and think over before deciding what to renovate in your home. One of the key considerations is resolving functionality issues that need fixing in your current space - do you want to move because your current space doesn't work for you any longer or is it too small? Will a renovation address and resolve the issues? Does your neighbourhood warrant the level of renovation you're planning on investing in? How much should you invest in your home?
Next and probably one of the most important steps is to hire a professional designer or architect. If your renovation is substantial and requires structural changes, hiring a professional or specialist is critical in ensuring you're doing a proper job. Renovation mistakes can be costly, and hiring a designer or architect to properly plan for the entire project from start to finish will save you loads. Carefully research designers and architects you are considering to hire, interview them to ensure your personalities connect well and they hear your wishes and concerns. 
 Next you're ready to hire a contractor. Make sure you check references. Check previous jobs and at least one current project site. Select 2 to 3 contractors that you approve of to be ready for plans to bid on. Once you've nailed down plans for the renovation job, you can ask each to provide their costing.
Now you're ready for the actual design process. Maintain files, samples, and notes for each room you are working on. Insert magazine clippings with specific notes on what you like and dislike. Create your wish lists of likes and dislikes for each room, no matter how small or big the point may be.
Make sure all permits are on hand on site.  Do your homework yourself when it comes to permits, even if the contractor says he will take care of things. Always check with your local building department.
You are now ready for the actual work.  Always ensure you have adequate funds for the renovation and a reserve fund for unforeseen issues or changes in the scope of the project. The larger the project, the more reserve you will need. It does not mean you have to spend it – but you most likely won’t be able to get more once you start the work. 
Patience is key when it comes to any reno, no matter how big or small. Just keep the end in mind and before you know it, you will be enjoying the benefits!