Home Renovation on a Budget

Staying within a home remodeling budget

Home Renovation, Gramercy Park

How to stay within a set home remodeling budget? (Photo Credits)

Home renovations usually go beyond a homeowners allotted budget when plans get out of hand.

Qanvast.com offered tips on how to go about a home remodeling without breaking the bank.

“We recommend renovating a home that suit your needs for a period of five years. This is due to the fact that in five years, many changes could take place. In many instances, homeowners would either upgrade to a bigger place to accommodate their kids, or renovate their home to correct past renovation mistakes because they now know what they want.”

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Back to Basics

Zillow meantime shared tips on how to earmark funds for a renovation.

“As a general rule of thumb, you should spend no more on each room than the value of that room as a percentage of your overall house value. (Get an approximate value of your home to start with.) For example, a kitchen generally accounts for 10 to 15 percent of the property value, so spend no more than this on a renovation. If your home is worth $200,000, for example, you’ll want to spend $30,000 or less. Something else to keep in mind: contrary to popular belief, kitchen renovations offer among the lowest return on investment, according to analysis from Zillow Talk: The New Rules of Real Estate. Every dollar you spend on a new kitchen only increases the value of your home by 50 cents.”

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Once a budget is set, it is important to stay within the financial limits. Houselogic tells home owners how.

“While your DIY labor is technically free, your lack of know-how can be costly. And then there’s hiring and scheduling. A task like moving a wall could mean hiring an engineer and an architect, not to mention coordinating permits. A general contractor knows who’ll do the best work for the best price, and they’ll know when to schedule them to avoid wasting dollars on inefficient use of time.”

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Are you thinking of renovating your home?

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What to Avoid When Renovating a Home

Avoid Committing these Renovating Mistakes

on the job..2

Renovate your home minus the pitfalls. (Photo Credits)

Renovating a home can be both an exciting and stressful situation. Exciting because the homeowner can see his dream house unravel before his eyes. Stressful because he is in total control and that any wrong decision can be costly, and at the same time unpleasant and inconvenient.

Realtor.com shared tips on how to avoid renovation pitfalls.

“Ever dream of sipping tea on the wraparound porch of a Queen Anne Victorian, or gazing at the soaring ceilings of a Gothic Revival after an endless workday? Historic homes carry tons of charm, but here’s the thing: They’re old. And that means they often come with truckloads of hidden or weirdly unexpected issues—and may require exorbitant upgrades. But fear not! With smart planning and a few expert tips, you can renovate the historic home of your fantasies. And, hey, why not create some new history while you’re at it?”

Check out the tips here.

Avoid the pitfalls

Rodale’s Organic Life also shared some Home Improvement mistakes that should be avoided at all costs.

“Fiberglass insulation is great at protecting your home against the elements. The problem, some experts say, is that fiberglass emits styrene, a suspected carcinogen. And small fiberglass particles can break off and irritate your skin or lungs, causing rashes and even respiratory problems.”

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Renovating. The word alone conjures images of messy, dust-filled rooms. Think of kitchen renovations where the stove, fridge and dishwasher have been pulled out and placed in the middle of the TV room—optimal for entertaining guests, right?  Even worse, bathroom renovations where your entire family of five is forced to share ONE bathroom while the work is being done.”

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Are you planning a renovation?

 

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