Adding a home office? Renovating your outdoor space? Adding an ADU? Upgrading technology? Whichever your next home construction may be, being prepared with these 5 steps will reduce some of the stress a renovation or remodel produces.
1. Plan the Project – Decide the scope of the project. What would you like to accomplish? How much money might it cost? How long might it take?
2. Secure Financing– Depending on the type of project, this could range from a personal loan to a renovation loan or a construction loan. There are also loans available for ADUs and room additions nowadays.
3. Budget for the Project – Now that you know what you would like to build, you can create a budget. This will help you stay on track with expenses and maximize your return on investment. There is always the risk of going over budget but without one at all, there is a greater risk you will run out of financial resources in the middle of the project.
4. Design the Project – You may start with a draft and then show the architect or designer your vision. They will then convert your vision into drawings taking into consideration budget, scope and expected outcomes.
5. Review Contractor Bids – Ultimately, select a contractor who is licensed and bonded, with a good reputation and known to deliver.
It will depend on the type of project if you will need to hire a general contractor, subcontractors, or a handyperson. This will, more likely, be determined in the planning stage. You will also need to be clear on the differences in their responsibilities and commitment. Ultimately, if you do not want to deal with the whole ordeal of a construction project, consider hiring a construction manager who may manage the project and represent your best interest.
Content photo: Silvia Brazzoduro – Unsplash.com
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