The American Real Estate Society recommends that people renovate their homes every 15 to 20 years, with this estimate meant for houses that are already in good condition. Renovating a home offers a number of benefits, many of which are essential for the safety and integrity of the building’s structure.
Home renovation is a necessity due to the effects of age, wear and tear, safety concerns, and environmental factors. The biggest dangers of not renovating a home are the safety hazards and concerns from issues such as mold, lead-based paint, and collapse risk in extreme cases.
In this article, we will look at 8 important aspects that will make your home renovation process go smoothly.
Home renovation prices can vary a lot depending on what your goals are. According to statistics, 32% of homeowners claimed they had budgeted between $5,000 and $10,000 for a renovation project, with 7% claiming a budget of $50,000 and above. The range you can expect to spend can vary greatly depending on your needs.
If you hope to renovate your entire house, be prepared to spend a significant amount of money. Renovation can be expensive, and many prefer to focus on certain sections of the home rather than going all in.
People tend to have a preference for renovating areas like kitchens and bathrooms and spend a disproportionate amount of money and attention on them when compared to other areas of the house. However, roof renovation is equally important, especially after extended periods of no maintenance.
Some professional roofing contractors will even offer you a free roof inspection, which you should definitely consider. Such inspections typically look for shingle or tile damage, structural, water, and flashing damage, which can all be highly dangerous if left unchecked.
Statistics show that close to 80% of surveyed homeowners exceeded their initial budget. Nearly 68% of these people went over $5,000. Unexpected costs are part and parcel of home renovation.
It can be easy to feel like your contractor is trying to cheat you, but this is not always the case. Good quality materials, labor, and other costs are not cheap, and their prices change a lot, so don’t be surprised at additional costs (within reason, of course).
In 2022, Americans paid more than double what they did in 2021 for electricity, with prices shooting up by 14.4%. It makes a lot of sense for homeowners to consider energy efficiency upgrades when renovating their homes.
This can take the form of weatherization, which involves comprehensive insulation, replacing doors and windows with lower U-factors, tuning existing heating systems, and, if budget allows, replacing old appliances with energy-efficient ones.
The quality of the materials that you use is very important. We understand that finance can be an issue for a lot of people, but you are wasting money in the long run by getting cheap materials. Paying more upfront for better materials means lesser costs in the future for maintenance, and you also have the benefit of better resale value.
During the entire home renovation process, you should ensure that you are communicating very clearly with your contractor. You want to work with someone that is professional enough to give you estimates, prices, and other information in writing.
The last thing you want to do is to engage in an argument without having any clear proof about how much they said materials or labor was going to cost or the time frame promised for completion. Also, don’t be afraid to ask about details when you are confused. If you don’t understand what something means, ask them.
There is a tendency for some contractors to throw in add-ons and use jargon to obfuscate true costs, which is, unfortunately, something that is more common than we’d like. Take care to clarify as many details as possible so there are no misunderstandings later on.
The pride and accomplishment that you feel after a successful home renovation is unmatched. In some cases, it can feel like living in a brand-new home. While the process can be expensive, remember that you only need to renovate a house every 15 – 20 years. If the costs seem great, consider saving a little bit every month.
A small amount that you can set aside and invest over the course of several years, just for the purpose of home renovation, is an extremely wise decision to make.
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