What to consider before renovating your home?

Written by richard  »  Updated on: April 01st, 2024

What to consider before renovating your home?

Home renovation can be like a home improvement (except that it's a gigantic-scale home improvement). Renovations can bring both a good side and a bad side. A plus side is that the home gets improved. The bad side is that movement is hindered, work is slow, there is a lot of mess, and it takes time to get to terms with the mess around.

In all honesty, renovating a home is no doubt an exceptional way to customize it. Residents and homeowners do it to suit their needs and preferences. Moreover, a tactical and well-planned renovation helps improve the home’s value in the market too.

Can renovations backfire?

There are chances that home renovations can backfire. They can cause more harm than good. For instance, trying to fix the floor can result in a burst or leaking pipe which can dampen the floors and create a seepage.

With renovation can also come additional plumbing, electrical, and other jobs. That can really raise the renovation bill. Then renovations which are expensive may not always raise the home’s value. Renovations can backfire unfortunately and not much can be done to make up for their value.

How should a renovation be?

A renovation should be successful and must boost the return on investment (ROI). It should be done in a tactical manner to ensure everything is on the right track. It should also give homeowners the necessary return on what they have spent.

What should be considered before conducting renovation in a home?

The current needs and preferences of residents and homeowners are indeed vital. It is fundamental to consider the impact renovations can have. For instance, carrying out a renovation in an apartment’s bathroom can have an impact on the bathroom of residents in the lower apartment. The roof can leak, crack, or have its structural integrity affected.

It is wise to consult both construction claims and real estate professionals in this regard. They can inspect the property and provide the needed reasons and findings for residents and homeowners to conduct renovations on sound footing. This helps remove any pitfalls that can arise.

Intentions of homeowners and residents alike

When homeowners undertake a home renovation project, a key consideration will be the intentions and ideal results. This step provides the basis for the whole project and guides subsequent decisions, especially the budget, resources, timeline, and milestones.

For this to work, homeowners need to analyze their objectives. What is the intention of the renovation? Do they want to boost its appeal? Do they wish to optimize its functionality? Add more space? Or raise their property’s value? When they have a proper understanding of what they want to accomplish, then they can conduct a smooth renovation process.

The potential expenses and financial resources involved

Inflation today is concerning. Labor is becoming expensive and renovations are costly. Somehow across various American states, the costs aren’t uniform. Similarly in the United Arab Emirates (UAE), the renovation expenses can be tricky depending on the company willing to do it and the scale of the project too.

Once the intentions are clear, homeowners must research the costs that are part of the renovation project. Once the early estimates are compared with the budget (the funds saved for the project that is) through Project Advisory, this can help them determine what can be done now vs what can be done in the future. Buffers should be present to allow for unexpected costs and incidents.

Any regulatory processes plus the project timeline - what could be the snagging points?

Another important consideration to keep in mind when it comes to home renovations is the timeline. As homeowners approach their renovations, they will want to understand how long certain projects can take.

It also depends on the extent of the renovations, homeowners may need to obtain permits from their councils, or approvals from building and residential unions in the suburb or city. Following these processes is a straightforward process. It can somehow impact the project timeline due to any delays or setbacks in approving the plans.

The labor factor - will the renovation be a DIY one or done by professionals?

Project advisory professionals explain that some aspects of the renovation can be completed by a DIY approach. Depending on what homeowners wish to achieve, is it to improve the home’s functionality or aesthetics? They would want to work with architects, contractors, engineers, or other associated professionals in plotting and completing renovations on time.

Any potential setbacks

They should also be taken into account. The project’s scale is something the setbacks depend on. Residents may need to relocate temporarily, due to the noise and debris, and then adapt their daily activities to their temporary location. Anticipating these kinds of inconvenient moments is a must. This leads to the creation of alternate plans as a means of reducing stress.

Coupled with daily disruptions comes large-scale adversities courtesy of renovations. It is important to keep in consideration delays and setbacks. Renovations can get delayed due to a multitude of factors. This gives homeowners a tactical buffer for getting things done right.



richard
MANAGING & FOUNDING PARTNER

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