Smart Tips for Home Upgrades and Expansions

Homeowners are constantly on the lookout for a great contractor who can add a new addition to their space. Whether you’re considering solar panel installation, an extension, or some subtle quality of life upgrades to revamp your current layout, home improvement is the answer.

Adding to your existing home is a great way to boost the overall value of your space without having to go through the hassle of finding a new real estate property and applying for a new mortgage loan with all the required paperwork and headaches.

A renovation project is the best way to keep everything that you love about your home and build on new amenities or improve the things that drain your budget, patience, or both. With these smart tips, you can hire a contractor and get started in no time!

Plan your priorities.

img

Home renovation is a big business in the United States. According to studies conducted by Harvard professors, U.S. homeowners spend more than $400 billion every year on home improvement projects collectively. Oftentimes, a homeowner will look to get the most bang for their buck when approaching contractors for a job. However, it’s important to understand what you’re looking for in the upgrade before pulling the trigger.

Start with a long list of things you’d like to see changed in your home. General contractors are often capable of overseeing work across a large variety of project spaces within your property, so get expansive with this initial list. Maybe you want a pool put into the backyard, new windows, and an air conditioning overhaul. Whatever problem areas you can identify in the home, write them down on the list. In the second phase of this initial planning stage, you will want to identify your top priorities and work to create a must-have list that combines all of your necessary upgrades together into one project.

Ask for references.

img

Once you’ve identified the project you want for your home, it’s time to start approaching contractors and getting quotations for the average cost and timeframe. When you meet with a contractor, it’s important to ask for references that can vouch for their work. Anyone, they direct you to will likely give you the same glowing reference, so you must come up with some subtle ways to identify any potential problem areas in the work done.

Asking questions about subjects like the size of the team, normal work schedule during a typical day, or midstream changes that the homeowner wanted to be done can give you some insight into the way your chosen contractor will work on your backyard, bedroom, or kitchen addition.

Plan the finances.

img

Homeowners have unique access to home improvement lines of credit, but taking out the maximum allowable isn’t always the best course of action. These loans are typically valued with a slim interest rate (just like your mortgage loan) but adding a second long-term monthly payment to your cash flow might not suit your unique financial needs.

Saving a portion of the cash required for the renovation is often a great way to handle the upgrade process. This means factoring in the prospective cost of a home improvement project when approaching your savings targets in the months or years ahead of any update.

Think about your quality of life.

img

Home improvements that boost the comfort level that you and your family enjoy in the space are crucial for efficient use of the home going forward. With the coronavirus pandemic keeping us all working and studying from home, the importance of a comfortable home has never been greater than the present.

Whether your child is learning how to write a historical paper or you have to field back-to-back Zoom meetings on a regular basis, a home that can facilitate the unique needs of your workday and relaxation time alike is something to be sought out with ferocity.

Take the time to plan your home upgrade in all its facets and your family will reap the rewards.