Tips for Planning a Home Renovation

Budget

First, you need to set a budget. If you have $300 to make a living room look a bit more beautiful, that's quite simple. Otherwise, remember that home renovations often exceed the budget. So you must definitely plan for some extra funds in case you spend too much. For larger projects, you'll need more money. Many people use a home equity line of credit to fund their home renovations. You can read everything you need to know about HELOC loans in the guide that will help you decide whether it's the best option for your situation.

Brainstorming

Next, you should decide what exactly you want to do. If you have a great sense of design, you may not need additional help, but perhaps you only have a general idea of what you like and dislike. In that case, try looking at magazines and photos of homes and rooms online. This will help you understand which colors you prefer and what style you want. Start by not worrying about practicality. Of course, it's not about reproducing a 17th-century parlor in a ranch-style home, but just collect photos of what you like now to better understand and express what you want. There are also excellent apps that can help, including those using augmented reality to assist in visualizing different changes around your home.

DIY or Professionals?

Your next step will be to decide whether you want to do everything yourself, work with professionals, or use a combination of both. Whether you're looking for light redecoration or serious DIY, professionals can be helpful to help you avoid obvious mistakes that you might miss as a beginner. On the other hand, if you're a DIY enthusiast, you can learn to do most of what you want, although there are certain things like complex electrical or plumbing issues that it's better to leave to professionals. Usually, outdoor projects such as restoring patio furniture can be done yourself since they typically don't require electrical or plumbing solutions that might be difficult for a beginner.

Timeline and Practical Considerations

What's the best season to carry out your project? Do you have pets that will be disturbed by construction and may require a temporary move? Is your spouse preparing for a CPA exam or are there other events at home that might make this a bad time for changes? Try to choose a reasonable start date and a definite end date for the project. As with budgeting, remember that everything may take longer than you expect, so plan extra time for this.