Remodeling your Home: Here's What to do and What Not to Do

Whatever the scope and size of your remodel project is, it’s important to make sure you have enough money to see the project through to the end, before you even get started. Probably the number one mistake people make is biting off more than they can chew in terms of finances. Don’t think you can just refinance your home and get extra cash if you run out mid-remodel. Banks and other mortgage lenders will not refinance your house if you are in the middle of a remodel project. Make sure you can afford it before you start.

Biting off More than You can Chew

On the subject of taking on too much, even if money is not an issue, it’s still easy to get in way over your head when remodeling. Most remodel projects are messy and inconvenient. They often involve you having to not use whatever room in the house is being remodeled. If it’s your kitchen that’s being torn up, you might want to have a back- up plan in place. Not only do you need to be able to afford the remodel, but you might have to put out the cash for eating out 3 times a day until the project is finished. Just make sure you’re ready for some big inconveniences in your life.

Often the temptation is there to just do it all at once and get it over with, but do you really want to let someone hijack your house for the next 6 weeks while it’s being remodeled? Starting with a small project initially is a good idea. It lets you get used to the idea of messes, strangers in the home, or demands on your time and energy if you’re doing the work yourself. As you become accustomed to it, you can start taking on bigger and bigger remodel projects.

A Word about Tools

If you’re an old hand at remodeling and building you’ve probably got a garage full of tools you are comfortable using. On the other hand, if you’re a newbie just getting your feet wet, you may have to buy or rent the tools you need. Make sure you budget for your tools as well as the actual project itself. Many home improvement stores have tools for rent by the hour or by the day. Some towns like mine have tool lending libraries where you check out tools much in the same way you would check out a book. The best thing about it is, the tools are free. Don’t forget to buy the proper safety wear before you go and start your project with your new tools.

You Get what you Pay For

Sometimes cheaper is better, but that’s not usually the case for remodeling your home. If the tool or the item is expensive, there’s probably a reason for it. Don’t use light materials for heavy use areas. They’ll wear out a lot faster and you’ll find yourself having to redo the area sooner than you’d like. It’s especially important when it comes to building that you not cut corners to cut costs. The news is full of tragedies that could have been prevented had builders not cut corners and costs.

Over Running your Budget

The whole building/remodeling industry is rampant with cost overruns. When budgeting for your home improvement projects it’s a good rule of thumb to just add 20-25% extra on any calculations you do. Remember, if you get in over your head and run out of money you won’t be able to refinance your way out of the problem so short of borrowing money from family and friends, you’re likely to be out of luck. No one wants to have to stop their remodel projects in the middle before finishing them. Make sure you have the financial resources before you begin. Starting with smaller projects first is a good idea so you can see how things go on your pocketbook before you get into the bigger stuff.

Final Thoughts

It’s not a bad idea to speak to others who have gone through their own remodeling projects to see what they learned and maybe you can learn from their mistakes before you even get your project started. They may also be willing to lend you their tools and maybe even their expertise to make your first projects go even smoother.

Kevin Sawyer is a professional blogger that enjoys discussing home renovation topics. He writes for Exoticbathexpo.com, a kitchen and bath accessories retailer.