When most people think about major home improvements, finances are among some of the first concerns that come to mind. While some major repair projects can be costly, a lot of these costs are easier to handle when you have the right budget and plan in place. Find out how your budgeting checklist can assist these ten large home improvement projects.
1. Garage Door Installation and Repair
It’s a good idea to start with the exterior areas of your home. Of course, this means taking care of your garage. While your garage may not seem like it needs any attention, this part of your home often lacks the kind of care and attention that falls on more popular areas. When you are getting ready to undertake garage door repairs, it’s crucial that you understand the financial aspects of these repairs by creating an accurate budget.
Like most major home improvements, if you need a new garage door, then you can expect to shell out more money than simply repairing an existing one. This is where knowing your financial picture is helpful. By knowing what you can afford, you can adjust your strategy and your expectations as you shop around for the perfect garage door to fit your home’s needs.
2. Redo Your Bedrooms
Re-doing your home’s bedrooms isn’t just as easy as visiting the best mattress store in town for a new bed. It often requires a complete restoration of the walls, flooring, and ceiling, along with other stylistic elements. When your budget is in place, you’ll find that it’s much easier to make the kinds of sound decisions that will leave you and the rest of your loved ones feeling happy with your home’s bedrooms.
Bedroom repairs and replacements often fall under one of the more expensive major home improvements. This means that your financial expectations should match this. Like any other project, there are always steps you can take to reduce your costs and cut some corners, but you never want to skimp on the things that matter most. The logic follows that it’s productive to make a list of your non-negotiable items and build your budget checklist around them. With this approach, it’s easier to eliminate unnecessary spending and zero in on your must-haves for your bedrooms.
3. Taking Care of Your Plumbing
Plumbing is a key component of any home. Failing to take care of your plumbing in advance is a recipe for problems. However, when you’re prepared and you set aside a portion of your budget to plumbing issues, you can avoid many of the issues that come along with this part of your home. A septic pumping service is usually easy to obtain, and you can always shop around to make sure you’re getting the right price.
When it comes to plumbing and other major home improvements, it helps to have the right specialists and contractors working on your side. Rather than waiting until something goes wrong to locate the right person for the job, it’s far better to take advantage of the slew of services you can find to help you locate plumbers. If you’re stumped, try asking some friends and in others your neighborhood if they know of a reputable source that can help you with your plumbing needs.
4. Knocking Out Walls and Removing Old Debris
As you set up your budget checklist, make sure you account for destruction as much as you do for construction. Hiring a demolition contractor can be pricey depending on your project, so you should always prepare in advance. For your financial stability, it helps to speak to a variety of sources, as it’s usually possible to hunt for a better contractor price.
Major home improvements can seem overwhelming at first, especially when you don’t have a clear picture of the financial requirements. When you’re planning to destroy a wall, you should know that you’ll have significant debris to pick up later. You can often seek bids for dumpster rentals if you’re planning to do the work yourself. Conversely, it’s also possible to hire one contractor that can handle both the demolition process and the cleanup afterward. Regardless of your choice, be sure to set aside some funds to take care of these costs so you’re not surprised by the expense.
5. New Flooring and Tile
It’s no secret that flooring and tile play a crucial role in the overall aesthetics and functionality of a home. Whether you’re looking to upgrade your flooring for personal enjoyment or to increase the value of your property, it’s important to create a budget that aligns with your goals. When budgeting for new flooring and tile, you need to include space for material options, costs, financing options, and routes you can take to maximize your spending.
Local tile companies are abundant in most areas, as new flooring is a common desire for most homeowners. Taking advantage of different flooring and tile store price discrepancies can really add up over the long term. Many stores charge for individual tiles, for example, so buying in bulk is a great way to reduce your cost basis. Other stores may offer a discount if you decide to use their services for multiple rooms in the same home. Be sure to shop around for these kinds of deals, as you can often find a better price than whatever is first advertised to you.
Different types of flooring fulfill different needs in your home. For example, hardwood flooring adds warmth and elegance to any space, and it’s common for hallways and dining rooms. Hardwood comes in a wide range of species, including maple, red oak, white oak, ash, beech, birch, cherry, mahogany, and walnut. Each type of hardwood has its unique characteristics and price range, so be sure to do some research as prices vary widely, especially if you’re interested in a more exotic type of hardwood flooring.
If you want something with a smaller investment, then laminate flooring may be the right fit for you. Laminate flooring is both a versatile and budget-friendly option that mimics the look of other more popular types of flooring. It is composed of fiberboard with a printed layer and a protective top wear layer. Laminate flooring is easy to install and maintain, making it a popular choice for those who want to roll up their sleeves and do it themselves.
Major home improvements like new floors put you in a unique position with your home. They require an investment of time and money, but they also bring outstanding returns if you’re looking to add resale value to your home. Knowing this can advise your choices when it comes time to choose the right flooring for your home. Think about the livability of your decision as well as its potential to maximize any future earning potential on your home if you put it on the market.
6. Putting In New Walls and Rooms
New walls and rooms can have a dramatic effect on the look and feel of your home. When making a budget for your drywall service, be sure to measure your space and think about your desired outcomes. The type of materials used for your walls is crucial, as this is where most of your costs will originate. Having a rough estimate of these material expenses in advance will save you the headache of shopping around and negotiating in excess.
Like most major home improvements, adding a new wall or room can also impact the resale value of your property. It’s all in the wording, as even a new half-bathroom can attract a whole new class of buyers when measured against a home that only has one bathroom. These kinds of tweaks to a home are possible when adding a new room, but they also require a keen approach to finances and expenditure, as you never want to outspend the future value that you’re creating with a new addition.
Evaluate your budget and determine how much you are willing to invest in the project. Remember to consider not only construction costs but also potential long-term maintenance expenses. It’s also prudent to research local zoning regulations and building codes to ensure compliance. Some areas may have restrictions on the size, height, or style of additions. It’s essential to understand these requirements before proceeding with your plans, as violating a code can take a sizable chunk out of your cost basis.
7. Renewing Your Landscaping
The exterior of your home is a crucial component of its overall look and value. Failing to take care of your landscaping is a major oversight, especially if you’re making a budget to update the rest of your home. Be sure to attend to your exterior areas to set the tone for the rest of your renovations.
A good place to start is tree removal services, as they can help to clear up your yard. With your landscaping budget, it’s a good idea to consider some core financial concepts. First, research the real estate market in your area to determine if there is a demand for homes with special landscaping features. It’s wise to speak with local real estate agents or consult online listings to gauge buyer preferences and trends when it comes to landscape and lawn features. You’ll also want to consider whether the cost of the addition aligns with the potential increase in your property’s value. A well-designed and executed addition can provide a high return on investment, especially if it addresses common buyer preferences or improves the overall functionality of the home.
Quality and design are especially important when it comes to landscape jobs. Ensure that the features you’re adding are of high quality and blend seamlessly with the existing structure. Poorly executed or mismatched landscape additions may detract from the overall appeal and resale value of your home.
8. Kitchen Remodels
Countertops, cabinets, and appliances are the foundation of any great kitchen, so this is why most homeowners start here when thinking of renovations and remodeling jobs. Kitchen additions that require extensive construction and customization will naturally cost more than smaller, simpler additions, so be sure to plan accordingly. The choice of kitchen materials, finishes, and fixtures can significantly impact the overall cost. High-end materials and luxury finishes are common in kitchen marketing materials, so remember that these extras will increase the expenses, while more budget-friendly options can help keep costs down.
9. Bathroom Renovations
Bathrooms are an excellent way to transform your home’s functionality. There are some substantial structural considerations to keep in mind when altering a bathroom or installing a new one. Plumbing is a top cost to consider, as the bathroom addition may require significant structural changes, such as removing load-bearing walls and adding new pipes.
The cost of labor, including hiring contractors, subcontractors, and tradespeople, can vary depending on location, experience, and demand. Obtaining multiple quotes and comparing prices can help ensure you receive competitive rates when updating a bathroom. Whether you’re making major home improvements in your bathroom or making small fixes, it’s essential to budget for unexpected expenses that may arise during construction. Whenever you’re dealing with a water source, there is a possibility of discovering hidden structural problems. Remember this before you undergo floor refinishing or installing new plumbing of any kind.
10. Painting and Exterior Repairs
Don’t overlook the effect of new paint and exterior repairs as you’re making a budget for your major home improvements. Homeowners trying to get the most out of their money will love how something as simple as changing the color of a room can impact the rest of their home. Hiring someone to take care of your stucco service at the entrance of your home can have an outsized impact on the style of the home.
Major home improvements don’t have to be a constant source of stress for you and your loved ones. Instead, when you prepare with the right checklist, you can put yourself in a prime position for success. Remember to reference the tips above as you develop your plan for your next home improvement project.