Saving Money for a Renovation Project

A home renovation project can be quite expensive, more so if it is unplanned and has to be done as soon as possible. We are faced with such situation, with our house being destroyed by the fire and we had to move back as soon as possible if we want to save on rent payments. You see, we still have to pay for the monthly mortgage of our home even if it has been destroyed by the fire and since we are also renting a house where we temporarily live, a great percentage of our monthly budget goes to rent/mortgage payments. We decided that instead of paying for rent, we just have to work on renovating our home so that we can move back in and not have to worry about that extra expense. The funds that we received from our insurance claim was just enough to fix the house’s electrical and plumbing as well as the roof; there are still a lot of things that need to be fixed.

We have moved back to our home over a month ago and we are trying to save so that we can have the funds that we need to fix everything that has been damaged during the fire. Not only that, since we also lost most of our possessions during the fire, we are also setting aside funds that will go towards the purchase of furniture and appliances that we need here at home. We do have a few essentials, like a dining table and chairs and even a sofa set that was given to us by our next door neighbor. We have an old TV which we currently use; it has a few defects especially in the picture but buying a new one is not a priority right now. We do like to have a new home entertainment center like before (since we enjoy having movie marathons and we have a couple of favorite TV series that we love to watch), but we still need to spend on more important things such as our kitchen. Maybe after we have completed our home renovation project then we can think about buying new appliances such as a new TV or a DVD player and even some accessories such as new audio speakers and a rode ntg-3 microphone. For now, though, we just have to work hard and save so that we can rebuild our home.

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Home Renovation Considerations

Home renovation can make all the difference between loving your home and hating it — and there are tons of reasons to renovate. Maybe you just moved into a fixer upper and need to figure out how much it will cost to bring the home into the modern era. Maybe you’re tired of looking at the same worn out cabinets and want to add a touch of rustic to your kitchen. No matter the reason, renovation can be a great thing to do — if done properly.

 

The first step is finding a contractor, and that can be the tricky part. There are far more contractors out there than jobs, and not all contractors are good on their word. You need to find one you can trust, and that means doing research. Check reviews. Ask friends and family for recommendations. Or use a web service that vets contractors beforehand and allows you to get quotes for how much the work will cost.

There are several factors that determine the cost of a renovation job, including how far the contractor will travel, the time required to complete the job, and whether you have the supplies on hand or if the contractor will need to purchase those themselves.

Another major factor is exactly what part of the home is being renovated. A kitchen and bathroom usually cost significantly more to renovate than a living room due to the cost of shifting piping around without breaking it. However, a large room such as a game room or a basement may also incur higher costs than adding an enclosed porch might.

Something to keep in mind is that all renovations are not created equal. Changing out a bathroom to modernize might make it look good, but it also does something: increases the resell value of the home. When or if the time comes you ever want to move, your home will sell for significantly more if you have preformed renovations on it than if you didn’t. However, renovations that were purely for vanity and do not add value to the home are usually a waste of time.

When searching for a contractor, don’t wait till the last minute. Find out today who can give you the lowest prices and the fastest estimates to get your renovation completed.

 

*Image source: tiramisustudio at FreeDigitalPhotos.net

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Home Remodeling Tips

Remodeling can be a great way to add value, functionality and beauty to your home. It can be thought of as an investment. It can make your home more livable and more attractive for potential buyers. Especially popular are renovations of kitchens, to make the kitchen more spacious. After all, in many families the majority of time spent together is in the kitchen. A good kitchen remodeling job will take into consideration aesthetic appeal, design, storage space and appliances. It provides a perfect opportunity to update everything and work towards the sleek spacious look that is so popular in the design magazines.

There is also a trend towards larger bathrooms with more storage space. Adding closets anywhere in the house reduces the general level of clutter and makes the house look cleaner. Installing tile or stone can ease the task of daily cleaning in some areas and add a sophisticated look to your home.

Some remodeling companies have interior design services built in to their projects, so you don’t have to be the intermediary between a designer and a contractor. They use advanced project management techniques to keep the project moving smoothly from the initial design through completion. Manhattan renovations can be costly, so it makes sense to look for a contractor with a great track record so you can be sure about the value of your investment.

 

*Image source : Salvatore Vuono at FreeDigitalPhotos.net

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