Renovating your home can be a long and complicated process. Hence, it would be best to think carefully about additions and renovations to your home beforehand. To help with your decision-making, we have detailed some factors to consider before opting for additions and renovations.
According to a recent survey, more than 90% of all homeowners in the United States have plans for home renovations at some point, with 40% of homeowners planning to renovate in the next couple of years.
If you are one of those homeowners, it’s essential to know the factors to consider before opting for additions and renovations. You can get help from your real estate agent at Robert DeFalco Realty when renovating your home, but it does not hurt to know some things yourself.
Six Factors to Consider Before Opting for Additions and Renovations
While you are already considering some things before starting with your home renovations, you might be overlooking a plethora of things. Below are the top factors to consider before opting for additions and renovations to your home.
1. The Area
The first thing you must consider before starting your renovations is figuring out which room needs renovating. This is an essential first step that most people don’t fully focus on. Generally, homeowners would start a renovation project for one area only to add more things as they go along. Not only does this take longer, but it also makes renovating more complicated and expensive.
Additionally, for additions like sheds, garages, or adding walls, you must consider what area you have. This includes any rooms you wish to remodel and make bigger or divide into two. Considering these factors before additions can help save you from the renovator’s remorse.
2. The Reason
An essential factor to consider before opting for additions and renovations is the reason for the project. There is a difference between renovating a home for yourself and renovating to sell a home.
When selling a home, renovations mainly focus on repairments and adding additional features to increase the chances of selling a home. When you do it for yourself, you might want to change the design to your liking and add the custom features you prefer.
Your real estate agent at Robert DeFalco Realty can help you decide what kind of renovations you require if you plan to sell your home. With extensive experience in the real estate business, your agent knows what attracts buyers to your home.
3. The Duration
The time it takes to complete home renovations can differ based on the extent of the project. Before you start renovating, you must consider how long it will take and when you want the renovations to be complete.
The duration will affect your decision on the areas of the house to renovate and the type of renovations and additions to your home. Hence, it is important to have a rough idea of the deadline you want, especially if you are selling your home.
For example, summer and spring are the best times to sell a home. However, if your home renovations take too much time, you might miss the optimal time for selling a home.
Additionally, the longer the duration of the home, the greater your budget. Once you have created a schedule, you can decide on a budget to work under.
4. The Budget
The budget is one of the most significant factors to consider before opting for additions and renovations. However, there is more to just figuring out the most you are willing to pay for renovations and rolling with it.
Many different costs can spring up when renovating. Some of these costs are paid upfront before the project, while some come up during it. Hence, it’s better o fully assess the situation and create a budget accordingly.
You must consider the hotel fee for where you will stay during your home renovation, material cost, labor, additional features, and other unexpected costs.
Additionally, deciding how to finance your budget would be best. You can pay out of pocket or take a personal loan for a bigger renovation project.
Finally, you must always budget for more than 15-20% more than the estimated cost for unexpected expenses.
5. The Rules
While you can do most renovations without worry, you might need a permit from the city for some. Below are some renovation projects that require a permit:
- Plumbing work
- Electrical work
- Structural changes such as adding or removing walls.
- Additions like sheds and garages
- Fence and window installations
However, not every remodeling project needs a permit, and you can do some freely. These include:
- Installing new lights
- Repairing the driveway
Going forward with remodeling without proper permits can create many problems. You can get a hefty fine, remove any updates you made, or both. Your real estate agent t Robert DeFalco Realty can help you determine whether your renovations require a permit and which permits they require.
6. The Design
One of the top factors to consider before opting for additions and renovations is the design of your home, what it is now and what you want it to be after. The design of the home influences your budget, duration, and more. Hence, deciding beforehand what you want your home to look like before going forward with the renovations is essential.
How Robert DeFalco Realty Can Help
With over thirty years in the real estate business in New York, Robert DeFalco Realty can help you with your renovations. They are well informed about the factors to consider before opting for additions and renovations, and they can better assess your home and advise on what to do. They also have an extensive contact list to help you find the right contractor for the job.