Thinking of taking on a home improvement project soon? You're not alone! According to the National Association of Realtors 2022 Remodeling Impact Report, demand for contracting in remodeling work steeply increased during the COVID-19 pandemic. When consumers remodel, it is to upgrade worn-out surfaces, finishes, and materials, to add features and improve livability, and because it is time for a change.
Keep the following tips in mind when you start any home improvement journey and achieve the best bang for your buck:
1. Make clear goals. Consider what you want to achieve by investing (time, energy, money) into this project. For example, you want to create spa-like getaway in your currently outdated primary bathroom... What are the key pieces you need to reach that end result? Do you need to gut the bathroom to the studs or would new plumbing and lighting fixtures achieve your desired look?
2. Align a realistic budget with your goals. Know your numbers first because remodeling budgets can escalate quickly. Sometimes surprise costs pop up along the way, so pre-plan your financial flexibility in order to get the project to completion. Keep the budget in mind as you pick out materials and understand where you are (and are not) willing to make compromises for the sake of budgeting. If you have to have imported, Italian Carara marble counters (EXPENSIVE), can you reduce cost somewhere else like by choosing box-store appliances?
3. Work with experts. Just like when you put an offer in on a house, do your due diligence to hire contractors and suppliers with good reviews, references, proper licenses, and insurance. As mentioned, project costs can be high and you want to be sure you're entrusting that investment to qualified professionals. Google reviews are a tell-tale sign of quality work!
4. Ask yourself if you can DIY. A great way to save money on a project is to incorporate some DIY projects within the full project. Keep in mind the value of your time (both in learning and executing the task at hand) when comparing the cost of hiring the work done. Yes, you could paint the whole interior of your house, but it will take you three weekends to complete it versus you can pay professional painters to handle it in a day. You also want to be sure you are equipped to handle the project. Do you have access to the right tools and skills? DIY'ing something you really shouldn't have could cost you much more in the future.
Looking for which home improvements can improve your resale value? Read more here!
This article is brought to you by Cindy Bunch, Realtor with the Bunch Team Realty Group at Keller Williams Atlanta Partners. Learn more about our team and reach out to us anytime to help with your real estate goals.