All but the very newest properties have some potential for renovation or remodeling. From repairing a leaking roof or replacing outdated wiring to installing a new plumbing system or fitting a new kitchen, such projects come in all shapes and sizes, as well as a wide range of budgets. No matter what type of renovation you have planned, here are a few key points to keep in mind.
Look before you leap
The very first step in any renovation project should be to assess the condition of the building and, if necessary, stabilize it to prevent further decay. This is especially important if you are taking on a property that has been left empty for a significant period of time.
Working closely with both an architect and trusted contractors at an early stage reduces the chance that you might have to compromise on your own vision of what the home will eventually look like due to structural or other practical limitations you might encounter along the way. Finding professionals you can trust is essential, as lines of communication need to be both clear and open. Check with your local business bureau or ask for recommendations from family and friends or watch remodeling videos to get some ideas.
Busting the budget
Spending on renovations, especially among millennials and first-time buyers, is on the rise but no matter how perfectly you work out your budget, rest assured that you will end up spending more. Unexpected problems are part and parcel of every major building project as it is only when you rip up the carpets, strip the paper from the ceiling, or unearth the drains that you can wholly gauge the cost of what needs to be done. Calculate 30 percent of your overall budget and put this to one side as a contingency fund to cover unforeseen happenings.
Potential pest problems
One issue to be aware of during a major renovation is that the work being done will significantly increase the risk of a pest infestation. Rerouting pipes and vents, digging up grounds, and leaving windows open to optimize ventilation can all lead to a range of bugs and other pests entering your home to seek shelter, food, and water.
There are a number of pre-emptive steps you can take and companies such that can devise a proactive plan to reduce the risk of an infestation taking place while renovation work is being carried out. In the event of an infestation being discovered at a later date, such companies can deliver targeted treatments to help you take back control of your property and keep the pests away for good.
Retain the final payment
Renovation work can look perfect soon after completion, only for minor issues to emerge weeks or months down the line. Agree with your contractors to hold on to the final payment for three months after the work has been finished to give you time to spot any small leaks, uneven surfaces, or sub-standard workmanship around your home.
Withholding payments means the builder has a clear incentive to bring the work out to standard and will be less inclined to delay finishing off the work in favor of another project.