Home Renovation is a major financial commitment. Homeowners renovate to improve the lifestyle, comfort and enjoyment, and possibly an eventual profitable resale. But how can a homeowner determine a realistic budget?
First, assess your options. Balance your family’s needs and wants with your time and money. Write down what you want to change, add, upgrade or remove. Then place them into two categories: Needs and Wants. For the most part, NEEDS will take precedence over WANTS; but be flexible. Discuss with your family. Some Needs may end up being Wants, and some Wants may become Needs. Either way, your goals and your finances will determine your budget. To find room for both, be practical and be flexible: Your WANTS and NEEDS may change places, depending on your future plans.
For example: If you are planning to improve the value of your home for eventual sale, you may want to add new kitchen counters as a NEED to improve the resale value. But if you intend to continue living in the house, it may be a WANT – to add if the money is still there after the NEEDS. As you refine your budget, many NEEDS may change to WANTS, and some WANTS will become NEEDS. Upgrading your kitchen with newer, more efficient appliances may be a NEED in both cases.
Certainly the safety, appearance and livability of your home will be your NEEDS regardless. Some will be both: extra bedrooms may be A NEED for a growing family, or a WANT to accommodate visiting relatives.
Finally, once you have your list, hire an established professional Contractor to help you estimate your cost. HOUSEWORKS UNLIMITED is an established professional contractor who will work with you to achieve the home you dream of – with a budget you can live with.