Are you getting ready to give your home a much-needed makeover? If yes, then congratulations! Renovating can not only add value to your property but also bring it up to date with the latest trends and refresh its look.
Before starting your renovation project, it’s critical that you conduct thorough research. In this article, we’ll provide helpful advice on how to approach the process wisely.
A “smart renovation” generally refers to a renovation that:
- Has a well-defined budget and scope of work.
- Incorporates technology and energy-efficient features to make the home more comfortable, convenient, and eco-friendly.
If you wish to transform your home into a luxurious dream home without breaking the bank, then read further for smart renovation tips and tricks! With just a few guidelines in mind, it’s easier than ever to avoid costly mistakes while still achieving an elegant result.
Set a budget
Having a budget while renovating is highly recommended for a few reasons:
Having a budget is a great way to prevent yourself from going overboard with your renovations. This will help you be aware of how much money you are spending. While also making sure that the project stays within its intended budget. Homeowners have been known for adding additional items along the way, so having a strict but reasonable budget in place can really come in handy!
Establishing a clear budget will also ensure that you are able to fund your home improvement project in its entirety, while also avoiding any financial surprises along the way.
A budget is essential to determine the order of importance in your smart renovation; if you are strapped for money, structural and functional upgrades should take precedence over aesthetic ones. Setting a financial limit will guide you toward completing the most critical aspects first.
By creating a budget for your home renovation, you can grant yourself the freedom to adjust funds from one project to another. This ensures that your finances are going towards areas of the highest importance and maximum benefit!
As you plan your renovation project, remember that budgets can be dynamic due to unforeseen problems and various other variables. To prevent yourself from overspending on your project, always plan for a contingency in the budget for any sudden costs. That way, you will stay within financial parameters while keeping your renovation goals on track.
When it comes to renovation projects, the contingency percentage typically falls between 5-20% of the total cost. This is done in order to safeguard project owners and contractors from any possible monetary risks that may come up during the process, thus protecting them financially. It’s an essential step taken to make sure nothing goes wrong unexpectedly – after all, who wants costly surprises?
Formulating a budget is an integral component of any prudent home renovation. It will not only keep you on the right path but also help you make well-informed decisions. All this while maintaining your remodeling project, both reasonable and functional.
If you want to learn how you can avoid exceeding your renovation budget, read our article:
Do your research
There are several reasons why it is important to do research before renovating your home:
Understand the costs
Smart renovations start with smart research. Studying the expenses related to different kinds of restorations can help you create a budget that is both practical and achievable. With this information in hand, it will be easier for you to calculate how much money and materials your project demands, saving you from any cost overruns or unanticipated costs down the road.
Know the local regulations and zoning laws
Uncovering your area’s policies and regulations can provide you with vital information. Information about any limitations or conditions needed in order to comply with your renovation process. This will guarantee that your home improvement task is within local laws, in addition to helping you avoid any problems associated with permits and zoning.
Choose the right contractor or professional
Taking the time to study various contractors and professionals can be extremely helpful in finding someone who is qualified, experienced, and available for your renovation project. Researching each one will provide you with greater insight into their qualifications as well as an estimated cost of their services.
It is always wise to request estimates from a minimum of three diverse contractors before making your decision. Subsequently, it is important that you analyze these assessments in detail since each contractor has unique ways of presenting their proposals. Make sure that all the details are clear, and make comparisons with similar services or materials for an accurate representation.
Don’t be afraid to ask contractors all questions that you have about their estimates. A clear understanding between you and your contractor can go long way and make your renovation project much easier.
If you want to find out how can you increase your home value, here are some tips:
Selecting the right materials
Investigating the various materials available is key to making an informed decision about what works best for your renovation. Materials such as insulation, roofing, flooring, and windows are particularly important elements that can impact the energy efficiency of your home. Therefore, it’s essential to understand their benefits and drawbacks before committing.
It is essential to carefully pick materials that perfectly match each other and add value to your home’s design. However, try not to go overboard with personalizing the selection, as it could have a negative impact on the marketability of your property if you ever decide to sell in the future.
Here are some other important points that you should consider while selecting the materials and finishes for your renovation project:
Select materials that are known for their durability and strength. This will guarantee your renovation stands the test of time with little to no upkeep.
Finding the perfect equilibrium between quality and cost is critical when assessing both the materials you need, as well as their associated expenditures. It’s vital to ensure that they match your budget restrictions.
When choosing materials for your project, factor in the climate of your area. For example, humidity-prone areas call for mold and mildew-resilient components to avoid any issues down the line.
If you care for the earth and want to lessen your carbon footprint, choose materials that are environmentally sustainable and created from renewable sources.
Building codes and regulations
When planning a building project, it’s essential to research the local codes and regulations in your area. Ensure that you select materials compliant with these laws so that your project is not hindered by any costly discrepancies down the line.
To save yourself the agony and potential costs of corrective repairs, it is essential to verify that all materials are compatible with one another.
Taking the time to research and plan ahead can make sure your home is future-proof. For example, if you’re expecting a new family member(s) in the near future, adding an extra bedroom now could save money later down the road. Additionally, with more people working remotely these days, it’s important to consider installing a dedicated office space that best suits your individual needs!
There are several ways to make a home more future-proof, including:
Make a smart investment in energy-efficient appliances and HVAC systems, insulation, and windows to both lower your energy costs and help reduce the home’s environmental impact.
Smart home technology
Empower yourself with the convenience of smart devices, from thermostats and lighting to security systems that can be managed remotely. Save time by automating essential tasks for a simpler way of life!
Construct and finish your home with resilient, reliable materials such as concrete, metal, and hardwood for enduring results.
Enhancing or re-designing your home to include adjustable spaces. Spaces such as a workspace and gym will help you maximize the space for years to come.
Design your home with all ages and abilities in mind by including features of universal design, such as wider doorways and hallways, no-step entrances, and lever handles. This will create an environment that is accessible to everyone!
Automating systems like lights and heating can provide your home with added comfort while also conserving energy and keeping money in the bank.
By taking a comprehensive approach to safeguarding your home for the future, you can guarantee that it will stay up-to-date with your necessities and evolve in changing situations.
Find good contractors
Having good contractors for your home improvement project is crucial for several reasons:
When you enlist the services of a qualified contractor, they will bring with them an abundance of knowledge and expertise. Expertise that will guarantee your renovation is completed to precise standards. From thorough comprehension of building codes to expert use of tools and techniques, looking for detail in every aspect, these professionals ensure you receive nothing but the highest quality workmanship available.
Meeting budget and timeline
Exceptional contractors understand the essentiality of working within a budget and timeline. They can accurately estimate costs, and keep you informed of any delays or changes that may come up during the course of their work. Furthermore, they know how to properly prioritize tasks so as to make sure that everything is completed on schedule with maximum efficiency.
Liability and insurance
Licensed, bonded, and insured contractors are the best to hire if you want an extra layer of protection in case something goes wrong. Furthermore, they have all the permits and certificates necessary for your project mandated by local authorities.
Professional contractors are the ultimate problem solvers, able to foresee and address any existing dilemmas before they become substantial issues. Furthermore, they can supply both cost-efficient and imaginative solutions to your design or functionality needs during the renovation process.
In conclusion, reliable contractors are fundamental to ensuring that your smart renovation is completed in a timely manner. Moreover, they will keep you and your home secure while providing consistent communication throughout the process. Don’t forget that picking an appropriate contractor should be done before commencing any renovations!
If you want to renovate on a budget, here are some tips that will help you do that:
Get multiple quotes
Getting multiple quotes before starting your smart renovation is important for several reasons:
With the ability to acquire multiple quotes, you can assess and compare prices of different materials and services. As a result, it is essential to get several estimates in order to properly gauge which option best suits your finances.
Understanding the scope of the work
Gaining various estimates can assist you in better comprehending the extent of construction needed, as well as provide an idea of the diverse possibilities at your disposal. Taking this approach will ensure that you are sufficiently informed when deciding on how to proceed with the renovation and guarantee that you receive maximum value for your investment.
Better negotiation power
Having multiple quotes in hand can give you more leverage when negotiating with contractors.
When deciding on a contractor for your smart renovation, it is essential to think beyond just the quotes. Quality of work and reputation are key elements that should be factored in when making this important decision. Additionally, look into their communication style as well as the estimated timeline to ensure you make the best choice possible for your home improvement needs.
Stick to a timeline
Adhering to a timeline is essential for successful smart renovations. Not only does this help keep the project on budget, but it can also prevent added costs that could arise from delays. For instance, if your renovation takes longer than anticipated, you may be faced with unexpected fees such as temporary housing or storage of belongings – something no one wants! So make sure to plan accordingly and stick to the designated timeline in order to avoid these costly consequences.
Additionally, contractors and tradespeople may charge more for overtime or for rescheduling their work.
Sticking to a timeline not only helps you stay on budget but also limits the amount of disruption in your daily life. Renovations can be very disruptive. By setting a deadline and adhering to it, you can plan ahead for what may be disrupted so that you don’t have to live without certain amenities or services for too long.
Establishing a task-oriented timeline is key when undertaking any project. Not only does it provide clarity and guidance for the contractors, workers, and homeowners involved in the task at hand, but it also encourages accountability to avoid costly delays or additional fees.
Make energy-efficient upgrades
Making energy-efficient upgrades is necessary for cleverly planning a renovation. To save on your electricity bills and lessen your environmental impact, there are various ways to make sure that the home you live in is as efficient with its energy usage as possible. If you’re still thinking and wondering, “How do I convert my normal home to a smart home?”. Here are a few ideas to get you started:
Install a programmable thermostat
Utilizing this, you can enjoy an effortless experience where the temperature in your home is conveniently altered depending on the time of day. Making it easier to manage and conserve energy at all times!
Insulate your attic
If you’re looking to cut energy costs and bolster comfort in your home, it’s worth investing in high-quality insulation for your attic. Not only is this a cost-effective solution, but its effects will be immediate. This means, keeping the temperature regulated throughout winter and summer alike.
Invest in energy-efficient appliances
When it’s time to upgrade your outdated appliances, choose Energy Star-certified models. These models use less energy and water than conventional ones. This will save you money in the long run.
Harnessing the power of the sun, solar panels can be used to transform sunlight into electricity. Not only will this bring down your energy costs, but it also reduces your carbon footprint – a win-win situation!
Choose energy-efficient windows
You should look into swapping out your aged windows for energy-efficient options if they let in cold air. This will decrease the amount of heat that escapes from your home and make it easier to keep warm during winter months. Not only is this better for the environment, but it could save money on heating bills too!
Other areas, such as lighting systems, heating and cooling appliances, geothermal technologies, and more, can be considered for greater energy efficiency.
If you want to learn more about how can home energy efficiency affect your home, read our article on the topic:
Consider resale value
There are a few reasons why it’s important to consider resale value before starting your renovation:
Return on investment
A smart renovation is a clever approach to not only boost the value of your home but to also gain extra equity. This strategy allows you to capitalize on an investment that will pay off in the long run.
Investing in renovations can be costly. Therefore, it’s essential to make sure that you are getting the most out of your money. Utilizing advanced technology tools and consulting with financial advisors will help ensure a successful Return on Investment (ROI) so that you know your hard-earned dollars are being put to use wisely.
Homescala’s Renovation Portal is a great place to check the ROI for individual renovation items. This AI-enhanced tool can also help you plan and execute your renovation project while saving you money and weeks and months’ worth of research and planning.
Renovations done with great care can drastically increase the worth of your home. But if you’re hoping to raise its value in order to sell it quickly and for a higher price, then there are additional aspects that must be taken into account – like when would be the best time to list your house.
The best time to sell your home depends on a number of factors, including the local real estate market, the condition and features of your home, and your personal circumstances. Here are a few things to consider:
For homeowners looking to list their homes, the housing market picks up momentum during the spring and summer months when more buyers are actively seeking properties. This is usually a favorable time of year to put your home on the market.
If you observe that the real estate market in your area is facing low inventory and high demand, it may be a wise decision to put your home on the market right away. After all, this could potentially result in an advantageous sale for you at a higher price! It pays to take note of other local trends as well, such as median house prices, number of days on the market, and available inventory, so you can make an informed choice.
Your personal circumstances
If your personal situation calls for a fast sale of your home, such as relocating because of a job change, you may want to list it quickly regardless of the current market conditions.
With the right market conditions, you can make a successful sale of your house. By consulting with a local real estate agent and assessing the circumstances in your region, you will be able to determine if this is an opportune moment for listing.
When upgrading your home, the amount of profit you’ll receive depends on the value of nearby properties. As certain areas tend to have higher appreciation rates than others, it is crucial to assess how yours measures up against other locations.
Maintaining the resale value of your home should be at the forefront when considering renovation projects. Doing so will ensure that you are making informed decisions about what to upgrade and how much money to spend on each project. By striking a balance between personal desires and market expectations, you can both improve the value of your house and craft an enjoyable living space for yourself.
Prior to commencing any home renovation, it is essential that you acquire the necessary permits. Depending on the extent of work needed, you may have to acquire specific licenses for electrical rewiring, plumbing adjustments, or structural alterations.
Avoid unnecessary stress and costs by familiarizing yourself with the permit requirements for your project before starting – failing to do so can result in costly fines, delays, or even a work stoppage. Don’t let paperwork stand in the way of progress; be sure you have all the necessary permits!
A good contractor or architect could always help you navigate your permit application process easier.
Invest in quality materials
Don’t skimp on quality when it comes to renovating your home – splurge for materials that will last! Not only will you save money in the long run, but also make your house more comfortable and enjoyable. Make this a chance to upgrade with energy-efficient appliances, sturdy flooring, and stylish fixtures that stay beautiful through the years.
Use AI technology
AI technology can revolutionize your home renovation projects! Artificial intelligence makes remodeling more time efficient, precise, and cost-effective with its assistance. Utilizing AI gives you the opportunity to save both money and energy while still guaranteeing that you will get results beyond your expectations. So if you want a beautifully renovated space that is both cost-efficient and accurate, consider using artificial intelligence!
A renovation project management tool like Homescala’s Renovation Portal is a one-of-a-kind software designed to help manage tasks, resources, and timelines throughout your smart renovation. It helps you stay organized and on track by providing features such as budgeting, scheduling, communication tools, task lists, progress tracking, and more. By managing each project element in one place, these tools can help you achieve the best possible results in your renovations.
On the portal, you have access to your home’s pre-renovation value as well as options for calculating renovation costs and appraising its post-renovation worth. You can also take advantage of great money-saving tips, plus locate dependable contractors and high-quality materials.
To do a smart renovation, you need to pay attention to many things; however, if done correctly, you will save yourself a headache and a lot of money in the process. With help of the Renovation Portal, planning your smart renovation could go much faster and easier. Don’t wait – order your Virtual Estimate today.