Are you ready to unleash your creativity? Are you thinking about remodeling your home? There are numerous advantages to renovating a home, and the vast world of home renovations is full of limitless alternatives that, if done well, will increase the value of your home and your quality of life. This post will provide you with a full explanation of how to plan, get started, and avoid major problems while renovating a home to save time and money.
The rate at which homeowners are expanding and improving their homes has increased considerably in recent years. Many of us have been inspired to start projects that will make our homes more user-friendly and practical as we transition to a more home-centric lifestyle. No matter if it’s a bump-out, a basement flat, or an entirely new story, improving your home according to your needs is a fantastic way to stay in the community you love without needing to relocate.
Homeowners’ Most Important Reasons for Remodeling a Home
A house renovation or addition has numerous advantages. Here are a few of the most compelling reasons to consider it:
- Convenience – Your home could have been designed by a developer, the original owner, or someone with specific demands that aren’t the same as yours. The point is that unless you’re building onto a home you designed yourself, that space is unlikely to match your present demands. Remodeling or adding a section to your house allows you to customize your living space to meet your family’s current needs.
- Additional Income – Turning your garage into an ADU (Accessory Dwelling Unit), which is a fancy term for a legal suite that you may rent out for extra money. Having a rental unit in your house allows you to oversee your tenants and verify they’re adhering to the lease restrictions — not to mention it helps you pay your mortgage — and it’s one of the finest ways to build out an additional income stream in your existing property. The advantage of having a rental suite in your home rather than acquiring a rental property is that you can test the waters as a landlord without having to commit to a second mortgage, property taxes, insurance, and so on.
- Property Value – With a few exceptions, remodeling and increasing the usable square footage of your property increases its value. The only exceptions are things like installing a big addition to your property that makes it stand out against other homes in the neighborhood or building a very niche room that isn’t generally functional and would require remodeling for a future homeowner to use (like a mini climbing wall).
- You won’t have to relocate – The costs of selling your property and relocating are exorbitant. Even if you don’t hire movers and just do it yourself, it’s an expensive procedure that takes a great deal of dedication and forethought. Not to mention that adding a room to your house doesn’t need effort and preparation, but instead of paying agents, lawyers, and movers, you’ve used that money to hire a contractor to raise your property’s value.
- Downsizing – Sometimes, homeowners reach a certain point in their lives when taking care of a big house becomes a burden more than satisfaction. Not to mention that relocating entirely to a completely different home or neighborhood can be inconvenient when they’ve spent most of their lives there, especially seniors. Downsizing to an ADU is an excellent option because it allows them to still live in their neighborhood without worrying about walking up big staircases or mowing lawns; plus, they can earn some extra money by renting out the main house.
Factors To Consider When Planning For A Home Remodel
There are some basic factors to consider before committing to a home remodeling or extension project. These are the main things to verify before you start:
- Building Compliance – Contact the local authorities to learn about building restrictions and any permits that may be required. While a qualified contractor should be aware of this, you should definitely conduct your own research.
- Think thoroughly – Before embarking on the adventurous endeavor of building a new space for your home, take some time to think and plan about what type of remodeling or room addition would fit your specific needs. Say you want to build an ADU; you will need to think about plumbing, electrical installations, kitchen appliances, etc.
- Make sure your home’s foundations are adequate – You’ll need an engineer to ensure that your existing structure can hold, or be changed to accommodate, extra weight if you’re thinking about going up or out on a higher floor.
Common Mistakes to Avoid When Remodeling a Home
Here are the things that will undoubtedly trip you up during remodeling – but don’t worry, you’ll be prepared because you now know what to expect.
- Not considering the time of the year – If you live in a climate where some seasons are more suitable for construction, make sure you schedule your work accordingly. The last thing you want in November is to be living in a freezing house because you started building too late in the year.
- Not getting the proper insurance – You may need additional or customized insurance to have remodeling work done, depending on your region and insurance carrier, especially if you plan to reside in your home during the work period.
- Forgetting to use dust barriers – If you don’t employ dust barriers, you’ll be astounded by how much construction dust a home remodel generates and how easy it spreads throughout the rest of your home. You’ll be cleaning up construction dust for years if you’re not vigilant with your contractors.
Starting a home remodeling project is an exciting moment, and trust us, a few months from now, you’ll be glad you read this article’s planning advice and suggestions. Modifying your home, whether it’s turning a garage into a new ADU for Airbnb guests, a new bedroom, or a leisure suite, is a terrific way to boost functionality, customize your space, and increase the value of your property. Hopefully, these suggestions and tips will help you in your new project.
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