Renovation: A Cost-effective Option

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man and woman looking at house renovation plans

Housing prices today continue to surge as the demand grows, making residential properties even more expensive than they already are. This fact compels home buyers to compromise on a lot of factors, such as the house type, number of rooms, architectural style, outdoor space, and location. If you are buying for the first time, compromising the characteristics of your dream house may also be among your top worries.

Residential property can be pricey, even in cities that are considered more affordable in terms of cost of living. For example, in Alpine, Utah, the median house value amounts to $441,400. Now, the question is, do you have to spend that much to acquire your aspirational home?

Actually, purchasing a new house is not your only option. A more cost-effective alternative is buying a cheap old home and having it renovated instead. Typically, the cost of remodeling a house with multiple rooms ranges between $18,419 and $75,128. Thus, you can achieve your desired aesthetics and space requirements for a fraction of the price of a new home.

Here, we’ll help you get started with a basic guide on house renovation:

Devise a Plan

Evaluate your needs so you can set your priorities and establish a budget. Determining your priorities allows you to know how to allocate expenses effectively. For instance, do you value a sophisticated living room more than a lavish master bedroom? Then you should allot more funds on beautifying your bedroom and spend a bit less on your receiving area.

Additionally, in setting a budget, add an extra 10% to 20% of total projected costs so you can be ready for unexpected spending.

Find an Efficient Contractor

Conduct initial research and ask around for recommendations when selecting a contractor. It’s also good to assess factors like corporate reputation, business history, and level of expertise of the members of the construction team.

Another important reminder is to sign all the contracts which define the coverage or scope of work so potential problems can be more easily resolved when they arise. Lastly, it’s essential to work with your contractor to create a timetable that will serve as a guide for the overall course of the remodeling project.

Coordinate with an Interior Designer

interior designer choosing the curtain styleDiscuss your desired interior design with a professional in Alpine. They may also present you with a variety of design options. Some notable examples are modern, contemporary, minimalist, industrial, mid-century modern, traditional, rustic, shabby chic, and transitional. Each one is characterized by distinctive styles in terms of furnishings, details, and color palettes. By exploring different designs, you can select one that resonates with your personality and lifestyle.

Secure Legal Documents

Large-scale renovations usually require building permits. You may have to demolish the house for constructing a new frame that is needed to add space. If you plan on installing new doors and windows, tearing down the walls may also be necessary. Thus, check with the regulations and standards implemented in your municipality on such major remodeling processes.

Once you have acquired the permits, it’s advised that you start placing orders on building materials such as drywall, lumber, concrete, and the like.

The Takeaway

Owning an aesthetically appealing home doesn’t have to break the bank. By exploring other options and seeking the assistance of professionals, you can build your dream home out of an old house.

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