Embarking on a home renovation journey can feel like stepping onto a rollercoaster—thrilling, unpredictable, but oh-so-rewarding at the end. Whether you’re an eager first-timer or a seasoned pro with a tool belt full of tricks, navigating through the maze of design choices, budget constraints, and unexpected challenges is no small feat. But fear not! With some savvy planning and insider know-how, turning your house into the dream home you envision is well within reach. From squeezing every ounce of value out of each dollar to selecting projects that promise real bang for your buck, we’ve got you covered.
Planning Your Home Renovation Journey
You deserve to be in a home you love, but establishing a budget and desired timeline early and knowing your credit score and mortgage balance are the best places to start the home renovation process.
There are many finance options for homeowners, and choosing the one that is right for you comes down to what you can afford.
Understanding the Scope of Your Project
The first step is to develop an idea of what you want to do with your home remodel. Write a prioritized list of your needs and wants.
There are many sources to find design ideas for your home remodeling project. Look at magazines and websites and collect pictures of homes or remodeling projects you like.
Setting a Realistic Budget
According to a Houzz study, the median spending on home renovations in 2021 was $18,000. But your actual costs will depend on the scope of your project, the materials you choose, and the labor costs in your area.
Make sure to factor in a contingency fund for unexpected expenses that may arise during the renovation project.
Choosing the Right Design for Your Space
Whether you call it a renovation or a remodel, one thing’s for sure: It’s important to plan your project with care. One of the biggest tips the duo has for undergoing your home project is to pay attention to the rooms you use the most (and least.) and spend accordingly.
“Being realistic with why you use your space will help you not overspend,” Fletcher suggests. “Maybe don’t break the bank on a ton of cabinetry that you’re never going to use or an island that can seat 12 people if you don’t entertain a lot.”
Essential Steps in the Home Improvement Process
So there you have it, how to prepare for a home renovation, or two. As you can see, this was more than six months in the making and we haven’t even started yet.
If you’re planning a big home project for the year, get going now so it’s a smooth sailing project.
Preparing for Structural Changes
Any house renovation project requires sound planning but also a willingness to expect the unexpected. Here are some preliminary projects to consider:
- Structural carpentry
- Roofing
- Repairing or replacing windows
- Concrete work
- Siding
Upgrading Essential Systems
Before you dive into the fun cosmetic stuff, make sure your home’s essential systems are in good shape. This includes:
- HVAC (heating, ventilation, and air conditioning)
- Electrical
- Plumbing
Fitting all radiators, boiler system and controls. Installation of kitchen. Boxing in and plastering any exposed pipework.
Enhancing Energy Efficiency
When you think of a home renovation, think of it as a refresh or minor makeover. A renovation typically entails projects that homeowners choose to do themselves, like painting, changing the hardware on kitchen cabinets and updating lighting.
These projects are “spruce-ups” for the aesthetics of your home. Home renovations don’t break the bank and are often started and finished on the same weekend.
Transforming Spaces with Creative Design Ideas
In their experience, the term renovation (or remodel.) is often associated with a completely different word: flipping. And while home makeovers can help increase your space’s value—which is especially convenient if you’re looking to sell—they’re not always synonymous with flips.
Revitalizing Your Living Room and Dining Area
Looking for some living room design inspiration? Consider these ideas:
- Create a focal point with a statement piece of furniture or artwork
- Mix and match patterns and textures for visual interest
- Incorporate plants for a touch of nature
- Use area rugs to define separate spaces
For your dining room, try these decor styles:
- Scandinavian minimalism
- Bohemian chic
- Industrial edge
- Traditional elegance
Innovating Kitchen Spaces for Functionality and Style
The duo insisted the two terms can be used interchangeably. “I think renovation and remodel are often used hand in hand,” Rodgers says.
“We’re making subtle, very pointed changes in order to turn [a space] into something that functionally makes sense.”
Some popular kitchen renovation ideas include:
- Installing open shelving
- Adding a kitchen island
- Upgrading appliances
- Incorporating smart storage solutions
Maximizing Small Spaces with Smart Renovations
However, if your renovation is more involved and widespread, it can be incredibly time-consuming to finish. If you are fixing the foundation, flooring, roofing, plumbing, and electricity (that’s just to start), then a renovation can take a year or more.
Space-Saving Solutions for Compact Areas
When working with small spaces, it’s all about being strategic with your layout and storage. Consider these ideas:
- Use multi-functional furniture (e.g., a storage ottoman or a Murphy bed)
- Install floating shelves to maximize vertical space
- Choose light colors to make the space feel larger
- Use mirrors to create the illusion of more space
Affordable DIY Projects to Elevate Your Home
While the renovation is happening, you will need a second place in which to live. This means you could be paying for two homes (one mortgage and one rent payment) for an entire year.
To save money, consider these budget decorating ideas:
- Paint an accent wall
- Update cabinet hardware
- Install peel-and-stick wallpaper
- Create a gallery wall with affordable prints
These DIY decor projects can make a big impact without breaking the bank.
Navigating Financing Options for Your Remodel
Though often used interchangeably, remodels and renovations are based on the scope of the project.
Understanding Home Equity Loans and Lines of Credit
One popular way to finance a home renovation is through a home equity loan or line of credit. So, these nifty options let you tap into your home’s equity—basically, the gap between what your place is worth and how much you still owe on it.
Home equity loans provide a lump sum of money, while a home equity line of credit (HELOC) works more like a credit card, allowing you to borrow as needed up to a certain limit.
Keep in mind that these improvement loans use your home as collateral, so it’s important to borrow responsibly and have a plan for repayment.
Home Renovation FAQs:
Is it cheaper to build, buy or renovate a house?
Renovating often costs less upfront than building new. However, purchasing a fixer-upper can sometimes be more expensive than buying a house that’s move-in ready.
What is the difference between remodeling and renovating a house?
Remodeling involves changing the structure or use of a space. On the other hand, renovating updates existing spaces without making major structural alterations.
What order should I renovate my house?
Start with structural, roofing, siding, and window tasks. After that, focus on plumbing, electrical, and HVAC systems. Finish with cosmetic updates last.
What is the first step in renovating a house?
The first step in renovating a house is to define your vision and budget. The next step is to hire professionals if you’re not planning to do it yourself.
Conclusion
The road to revamping your nest, laden with paint samples and power tools, may seem daunting at first glance. Yet here we are—at journey’s end—with our wallets intact and spirits soaring high above our beautifully reimagined spaces. Start comparing estimates for your home renovation project from local contractors today!
