Remodeling on a Budget
it’s not uncommon to find that you are delighted with your home—with one or two nagging exceptions. You’d really like to remodel, but the project often gets pushed to the end of the “to do” list, because it’s either too expensive or too inconvenient to be without a kitchen or bathroom for an extended period of time. Still, let’s face it, the outdated kitchen, worn carpeting, or the cracked bathroom tiles have got to go.
In many cases, the reason your home may feel inadequate is that the average American house was built in the 1960s and is now pushing forty or fifty. In a sense, your home is in the throes of a mid-life crisis, and it’s up to you to address the situation with some remodeling. And, with interest rates at historic lows, there’s no better time to take advantage of home equity financing to fund your project.
Your first steps are to determine how much money you can spend and to define your vision of the completed project. Working with a professional designer will help ensure your vision comes to life and will prompt you to define your goals. For example, do you want an innovative new design, or are you striving for functionality?
When interviewing remodelers for your project, asking several key questions may enable you to save money. If you’re adding windows, see if you can use snap-in window grilles instead of windows with true divided lights. This could result in considerable savings. Need new flooring? Explore all of your options. You’ll find that they vary widely in price—check out vinyl, ceramic tile, hardwood, carpeting., etc. Your personal taste and budget will help you narrow the field.
Depending on the type and extent of the project, remodeling can easily prevent your home from being spotless and dust-free, and you may need to operate without the comforts you take for granted, such as hot water or a flushable toilet. When signing a contract to improve any room of your home, assess the capacity for makeshift spaces. You may find the disruption easier to weather if you can carve out room for a small refrigerator and coffee pot while your kitchen is out of commission. If not, you may want to consider a temporary move to a relative or friend’s home. Moving out entirely also will speed up the remodeling process by allowing workers to forgo the nightly clean up.
Article Courtesy of the National Association of Home Builders (NAHB).
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A green remodeled bathroom.
Refinished wood floors are a great way to add value to your home.
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