Home renovations happen for a variety of reasons. You could currently be in your starter home and want to increase the value to make a larger profit when you sell, or your family has unexpectedly expanded and you need more room. You could even undergo renovations to maximize efficiency for your utilities. Whatever your reason may be for renovating the task is a huge undertaking; money, an upheaval of your routine, and the mess – all things that strain you and your relationships. But that’s no reason to shy away from a worthy investment. Before you dive into the deep end, though, consider and have in place these finer details.
Money Makes The World Go Round…
… and you go crazy. Renovations cost in the tens of thousands of dollars, depending on what your plan requires. When considering a budget for your renovation, talk to financial experts, contractors, realtors, and your friends to get an idea of what you should spend. Each room has a different return value and based on what that value is will determine how much you should invest in each particular project. If you have the money saved away and don’t need a loan, great! If you see that repairs and updates need to be made, check multiple institutions to find the right borrower for you. And always add an additional 10-20% extra for an emergency fund. Any number of surprises can creep up during a reno. Don’t let that unanticipated cost send you spiraling. Once you’ve done your research and decided what your can spend/payoff stick to it. Use this number in your conversations with contractors – and consult with as many contractors as you did banks, maybe even a few more – and be firm with that number. The budget is non-negotiable. A good contractor will work within your means and give you the best quality reno for your buck.
A Place For Everything
You’ll need to prep your home for the renovation. This means moving all your personal items out of the room and storing them safely. In an ideal situation, you rent a separate, off-site storage unit to keep that room safe without adding clutter to a different room in your house. Each room will have its challenges. A kitchen reno means you’re mostly removing your pots, pans, dishes, and small appliances. Those can easily be put into boxes and stored wherever you have some extra space. Other rooms like the bed, dining, or living rooms will require the moving and storage of large furniture items. These things can really cramp your other rooms. If you plan on keeping your furniture you’ll have to make it work the best you can. This could be asking a friend with some extra space to hold some things for you or renting an inexpensive storage unit (work this into your budget). However you store your belongings, make sure they are safe and secure; wrapped in protective bubble or plastic wrap. You don’t want to lose anything of value because of negligence. If you’re replacing the furniture with new, contact your local Habitat For Humanity to donate large items, and shelters for your smaller things. *This is also a great time to Marie Kondo your life and toss what you no longer need/want, as it will also reduce what you put into storage.*
A Quiet Place
You’ll most likely be working during most of the renovation. If you are around during the actual reno, as you’re moving and storing the reno room’s items also create a space for yourself that is separate from the chaos of construction. You won’t be able to completely avoid it, but having a space that is solitary and calming will be vital to your sanity. Renos are just plain stressful with numerous people milling about your house, the noise, the mess – your privacy pretty much disappears. It’s no secret that renovations test even the strongest relationship. When you create your budget hold a little extra back for a weekend or overnight getaway. You and your partner will find yourselves at each others’ throats at some point. Take this time to get away from the insanity for a night and stay in a hotel. Relax and reconnect; invest in each other the same way you’re investing in your home.
In the way that first time parents prepare and plan and think they’re ready for the new baby, the same can be said of renovations; you don’t know what you’re getting yourself into until you’re actually in it. But with an iron-clad budget, your belongings securely stored away, and a mindful space for yourself, you can stare this renovation in the face with the utmost confidence.