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What to Consider When Renovating Your Home

What to Consider When Renovating Your Home

With the housing market and the economy as a whole looking to stabilize, investment is back in the real estate market. While many homeowners believe buying new homes will serve them well in the long term, other homeowners are focusing on renovating their homes to match the latest trends. Home renovation is by no means an easy or quick feat, and depending on your long term needs with the property, it will cost accordingly.  

That said modern home renovation is about blending all the elements and areas of a property to work cohesively as one theme. Here are some things that you must consider before investing in renovations.

The Budget

Budget remains the biggest concern when it comes to home renovation. There are people who get a decent renovation job for a fairly reasonable cost, but then they’re the only lucky ones. Renovations can sometimes cost a fortune, which is why you should consider what your objectives for home improvement are. Generally, there are three motivations behind every home renovation:

·         To increase the add-on value for profitable resale.

·         To improve the rental prospects of the property.

·         To improve the lifestyle of the occupants.

Based on one or more of these factors, you should decide your home renovation budget. For example, if you want to improve the resale value of your property, then you should keep a healthy budget to increase its add-on value. On the other hand, if you want to improve your current lifestyle and standard, you can always renovate your home in a wallet friendly budget.

Make a List

 Making a list of all the renovations you want, items and furnishings you need, and other things that can give your home the desirable look is crucial. Making a list will also give you a better idea of what you can DIY and what you can’t, for which you will have to hire a servicer. With a list, it’s also easier to get competitive quotes from different home improvement services.

What to DIY?

Once you have a list, it is best to buy a couple of DIY magazines on home improvement, or to follow blogs. Of course there’s a lot of hard work and sweating, but the considerable cash savings are always worth it. For instance, if your property requires a paint job and a bit of landscaping, you can always DIY. If your property needs a theme, you can buy fixtures and fittings and then place them accordingly. From painting to home décor, plumbing to hardware installation, and some landscaping work can always be done without the help of a professional service. However, if you don’t follow the instructions carefully, you might not be able to achieve the desired results.

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