- in Renovations
During the fall and summer, most people are making the leap towards home renovations, mostly because it is hard to work on the outside of a house during the colder months. Between 2009-2014 it was estimated that home remodeling was a $52 billion market that grew 3.8 percent. Those who choose to do renovations to increase the price of their home don’t always recoup their investments and there are many reasons why.
Don’t Hire The First Contractor You Meet
The first thing you want to do before you start any renovations is to get different quotes from different contractors. One may promise you the world and that they can give you the best price, but he may not be the most qualified. When looking for a contractor it is important to check their references, contact the Better Business Bureau, and check local consumer affairs agencies for complaints. You want to make sure that they are going to do exactly what you want and not what they want. There are some contractors out there that will do what they think looks best without asking the homeowner and this ends up turning into a court dispute. Certain contractors will try to charge the homeowner for things that were not in the contract and that turns into a battle as well. It is just extremely important that you do your research before hiring a contractor.
Get Your Permits
This is a very important part of home remodeling that some contractors will tell you is unnecessary. Getting permits allows the contractor to do the work that would require a permit. usually, city inspectors will inspect the project before and after to make sure everything was safely built. If you come across a contractor that says he doesn’t get permits, be concerned. He probably does not want to take the time to fill out all of the necessary paperwork, which can be a nuisance. if they do the whole thing without a permit and someone from the building department finds out, you can be fined and may have to have everything that was done, undone and redone with the proper permits costing you much more than you initially wanted to spend.
Biting Off More Than You Can Chew
One of the worst things that can happen is that you run out of money mid project. This may end up leaving you with a half finished kitchen or worse, a wide open addition that will succumb to the weather. You can avoid this by setting a reasonable budget and add extra money for any kind of “surprises” that may arise. A project usually always costs more than expected, which is why it is a good idea to leave that extra room. You should keep 10% of what your budget was in reserve for issues or add-ons.
There are many things that could happen to you while or after renovating your home. It is best to make sure you have a good contractor, a reasonable budget, and all of the proper permits and paperwork that you need to finish your project.