Once you start planning your home remodeling project, it’s easy to get swept up in the euphoria of big changes to come.
However, it’s important to remain realistic and have a clear vision of what you are trying to achieve. And although there are many reasons to remodel, there are many mistakes you should avoid too.
Why remodel my home?
Homeowners have many reasons to remodel. For one, you may be in the process of improving your home’s energy efficiency and investigating products that might make you eligible for rebates and incentives at the same time.
Installing some new replacement windows, for example, will not only insulate your home better but instantly improve your property’s curb appeal too.
For others, the first thoughts that spring to mind when considering a home improvement project include kitchen, bathroom, and basement remodeling. This is not a bad idea considering the big return on investment for this type of remodeling.
On the other hand, remodeling may the only option for many if they want to continue living in their home. For seniors especially, and those facing mobility problems, remodeling could mean the difference between a nursing home and independence.
Whatever the reasons are, whether you are trying to increase the value of your property and sales potential, preparing for retirement, or out of necessity, remodeling your home comes with a myriad of benefits and lets you avoid the stress of moving to a different home.
Mistakes to avoid during a home remodeling project
Don’t ever assume you know everything about what you are trying to achieve. More often than not, you’re better off taking advantage of a local professional’s input and experience, no matter how enthusiastic of a DIYer you are.
A local expert will have the latest information on your local pricing trends as well as the best advice for your particular project. This is why, in part, you have to make the smart move to compare estimates. Comparing prices from different contractors will help you find the contractor that will be best suited to your project.
The old adage of “you get what you pay for” is also never more true than when it comes to home improvements. If you settle for cheap products you will have subpar performance. Similarly, enlisting the help of a friend who isn’t experienced might lead to costly mistakes. Don’t try to cut corners because i
Moreover, depending on the type of remodeling you have in mind, building code and regulations have to be adhered to. If you are seriously considering remodeling your home, for whatever reason, don’t risk your safety to get the project done quicker, and for less. Always consider unforeseen problems. You may go over your budget and a ‘weekend project’ may carry on for a few extra days.
Home Remodeling Cost and Return on Investment (ROI)
The national average price range for a home remodel can range anywhere from $2,000 to $25,000. However, most homeowners report an average of $13,000. Naturally, a lot will depend on the type of remodeling you are doing as well as where you live. Here are some of the most popular home remodeling costs to consider:
|Type of Remodeling||Cost||% ROI|
|Window installation||$150 – $16,850||59-80%|
|Bathroom addition||$45,000 – $88,000||60%|
|Kitchen remodeling||$12,000 – $78,000||60%|
|Bathroom remodel||$3,500 – $60,000+||55% – 62%|
|Basement remodel||$6,500 – $30,000||70%|
Home remodeling offers a good return on investment
According to Remodeling’s annual report, some of the most common home remodeling projects offer a very good return on investment provided you follow the correct steps from start to finish. This includes, among other things, selecting certified Energy Star products. If you are serious about doing a home renovation that could add massive value and comfort to your home, always opt for professional installation using quality products. The potential returns include:
- Minor kitchen remodel – 77.6%
- A major kitchen remodel- 58.6%
- Window replacement – 72.3%
- Bath remodel – 56.6%
Tips for hiring a contractor
Dealing with contractors can become very time-consuming. However, comparing quotes is an essential part of making the best decision for your home remodeling project.
Getting the best contractor on board can not only make the difference between success and failure but also save you potentially thousands of dollars along the way.
One of the most common mistakes is to simply go for the best price. When viewing your quotes, your budget is obviously important. However, just because a company quotes cheaper doesn’t mean it is necessarily the best deal. Check them out online and read their reviews.
Discuss your options and find a contractor that has knowledge about different financing plans in your region. Equally, a knowledgeable contractor will be able to provide all the necessary permits as well as insurance.
Choosing the right contractor will save you time and money over the entirety of the installation, and making the right choice will also give you peace of mind.