Because of today's tight economy many household owners have pushed any home improvement projects to the bottom of their to-do list. But the truth is you don't actually have to worry about renovation costs because all you have to do is take advantage of several factors such as low costs of building materials and contractor fees to give your house a whole new look. Here are several reasons why you should consider remodeling your home.
1. Cheaper contractor rates- Although the housing market and construction industry has already recovered at some level, there are still a number of contractors who are willing to work on lower rates than others.
2. Lower electricity bills - Renovating your home is not just visually appealing but financially gratifying as well. Most homeowners renovate to make their houses more energy efficient by installing additional insulation, programmable thermostats and double pained windows. Thus the money you spend on renovations will eventually come back to you through your monthly savings on energy bills.
3. Increased marketability - In case you are planning to sell, a newly renovated home is more likely to get a lot of potential buyers who are willing to pay more. A renovation project will also increase its market value. This is why home improvements are considered as essential investments in the real estate market. You need to make the necessary repairs and improvements before you can hook a high-paying buyer.
4. Enjoy the improvements - A lot of home renovation projects are done when homeowners are getting ready to sell their properties. But wouldn't it be better if you fix your home now and enjoy the improvements while you're still there or until the right timing for selling comes along?
So, if you have finally decided that now is indeed the right time to give your home a makeover, here are some tips to help you get a successful home remodeling project.
- Get as many contractor referrals as you can. Remember that you should be able to trust the contractor that you are going to hire because he will come in and out of your house during the duration of the project.
- Know what kind of renovation you want to have. Planning ahead will help you save time and money. If you're not sure of your preferences, you might end up spending money outside of your budget.
- Tell your contractor about your house rules such as non-smoking inside the house.
- Put everything in contract. Make sure that you have a mutual understanding with your contractor about what should take place during and after the renovation project.
- Don't forget to remind the contractor to clean up the mess every day. Otherwise, dusts and other dirt particles will end up in the heating and cooling system. It is also important to make sure to clean your HVAC system after the renovation project to prevent damages and further repair costs.
- Do not give the final payment unless everything in the renovation plan is finished. Check if there is anything that has been left out or if there are any changes that you want to make. Remember that once you have paid the contractor in full, it would mean that the project is done and any follow-up work would mean additional charges.
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