When you buy a home, most people have multiple ideas for various home remodeling projects. Couples also tend to have different perspectives on which renovation projects should take priority. Another challenge is determining what the budget is for each “wishlist” project and comparing that with an annual discretionary budget for home improvement.
The challenge that many people encounter is they often times are going through their first remodel of a kitchen, bathroom, or many other common projects. Couples should look for home remodel project templates that can guide them through all the various items they need to consider when budgeting and selecting products.
Obviously there are larger projects that require hiring a contractor like a complete kitchen remodel, but there are also many smaller projects like putting in new floors that people can do themselves. Here is a six step guide that can help you plan out any of the home remodel projects you are considering.
- Ideas and concepts. It is important to get ideas for your project like themes and conceptual styles. You can do this search various online sites and many home improvement magazines.
- Design phase. If this is a large project, this might mean having a set of plans professionally created by an architect or designer. It also means listing out all the different materials and products you will need for the project, and even estimate the size and quantity of these items.
- Product research. Most people go completely over budget because they don’t do enough comparison shopping of multiple product and brand choices. There is usually a wide cost difference between basic, moderate and high end products and it is import to research these.
- Setting budgets. People have a tough time deciding between what they want versus what they can afford. This becomes an analysis of the various shopping research with an overall budget that you can afford.
- Executing the project. If you have the appropriate trade skills and tools, many people decide to try the smaller projects themselves to save on labor costs. But if you don’t have the skills and tools, it is important to hire an appropriate contractor for you to do the work. Knowing what you want and having an idea of the budget will help you manage the contractor you end up selecting.
- Closeout of the project. When the project is complete, the excitement level is high to enjoy the upgrade. But is important to keep all those receipts, warranties, plans, permits, and photos for future tax or resale purposes.
When you follow this process, you can really improve the ability to manage these home renovation projects. Two final things to remember when you finish a project is to update your home inventory for insurance purposes and to update a home maintenance schedule to properly maintain the new materials and equipment.