Home Renovations continue to be a popular area of investment for homeowners despite the current economic turmoil. It makes sense at a time when buying new doesn’t and building on what you have, does. Now that you’ve decided to renovate, there are still some things to consider before you go ahead. Yes, you believe that you’re adding value to your property, however, with some wise planning before the hammer hits the nail you can actually be saving money too.
Create a Detailed Plan
It is of the utmost importance to properly create a plan, budget, and time frame for your home renovation job. Such preparation is crucial to the enterprising DIYer and it’s also useful to those counting on professionals. Get a very clear picture of all estimated costs that will account for everything from materials to labour. Not only that, but it’s also important to figure in backup funds for situations which may arise as the project progresses. A safe estimate is 15% on top of the initial projected budget. If you have a realistic figure to work with that corresponds with very detailed drawings and plans, you are preparing a contingency for those unforeseen issues. Just being aware of this possibility can keep you from future migraines and possible bankruptcy.
Cut Down on Material Costs – Not Quality
Materials of course account for a large portion of the expenses in any renovation project. And although you may want to get the best price you can, you may not wish to sacrifice quality just to save a few bucks. This is your home after all, (where you might be living for 20 years to pay off a mortgage).
Companies that sell recycled material from demolition sites such as Happy Harry’s give you both a budget conscious and green option. “Found” wood is another trendy yet wonderful option – imagine creating a unique hardwood floor from an old wood cabin or antique ship. If however, you are more inclined towards higher-end materials but want to pay a fraction of the cost, consider Habitat ReStores. These affiliate stores found across Canada and the United States offer surplus and used building materials for much less than retail. ReStores get their supplies from donated goods provided by: building supply stores, local contractors, demolition crews, and others wanting to support the cause. Not only are you saving money, or being green, you are also helping to raise funds that let Habitat for Humanity build 10 or more additional homes a year.
Implement Green into Your Renovation
It’s shocking to consider that your home may be a toxic place. Do you know what went into the finishes of your hardwood flooring or kitchen cabinetry where you cook, or even the paint on the walls in every room in the house? Making green choices for your home renovation is not only important for your health and the health of our planet, it can actually save you money. Although the initial costs may be higher, using ethical and non-toxic materials that are longer lasting, as well as installing energy efficient components will save you money over time. From more complicated aspects like redesigning your home, to being conscientious about product selection, consider these options suggested by Rob Wright, owner of Citadel Renovations.
* ICF foundations
* Composite floor, roof, and wall framing
* Low e film, argon gas, and triple pane glass in windows
* Compact fluorescent and LED lights
* Lots of natural light
* Reduced and/or no formaldehyde cabinetry
* Low or no VOC paints and finishes
* Composite material exterior finishes
* Recycled material roofing: metal, rubber, cement
* Wood or linoleum floors
* Heat pumps: ground, water, and air
The money you’ve saved on heating, lighting, and water once you’ve made your home more energy efficient will over time actually pay for those improvements.
Decide If It’s a Worthy Investment
It may seem like a no-brainer to first figure out if the investment you plan to make in upgrading your home is one of value, but it may come as a surprise that some are less financially beneficial than others. CMCH, the Canada Mortgage and Housing Corporation, Canada’s federal housing agency, is a great resource for homeowners who are considering a renovation project. Their website offers a host of useful information, such as this break-down of renovation payback ranges:
Top four greatest payback potentials
* Bathroom renovation (75 – 100%)
* Kitchen renovation (75 – 100%)
* Interior painting (50 – 100%)
* Exterior painting (50 – 100%)
Versus:
Ten average payback potentials
* Roof shingle replacement (50 – 80%)
* Furnace/heating system (50 – 80%)
* Basement renovation (50 – 75%)
* Recreation room addition (50 – 75%)
* Installing a Fireplace (50 – 75%)
* Flooring (50 – 75%)
* Constructing a garage (50 – 75%)
* Window/door replacement (50 – 75%)
* Building a deck (50 – 75%)
* Central air conditioning (25 – 75%)
Repairs or beautification are the most prevalent ideas that come to mind, however, safety improvements are another way to go that will your wallet happy. Check with your insurance company if they offer lower premiums when you add or upgrade a home security system, fire prevention measure, or improve the existing wiring.
We’ve all heard the renovation horror stories that look like something out of that 80’s movie The Money Pit. It’s not something we like to think about; the possibility of your hard earned $10,000 renovation budget ending up being but a drop in the bucket. Like any other investment, you wouldn’t blindly drop ducats on any random man in a suit with a smile – you do your homework first. Not only will you bring added value to your home with your new renovation, you will also save money with your carefully laid out plans.
Susan Hu
http://www.articlesbase.com/accessories-articles/how-to-save-money-on-your-home-renovation-748561.html
DIY Home renovations? I want to renovate my home from new walls, flooring and landscaping. How do I learn?
I want to learn how to do these things myself to save money and I know it can be done. I will leave the plumbing and electricity stuff to the professionals. But I want to learn how to put up dry wall, windows, and hardwood floors. Where do I find quality material such as granite, cabinets for less in my area
(washington, dc) Are there any professionals willing to walk my through the process?
HGTV Is what I watch for good home improvement ideas. It’s very informative if you watch the right shows, like Designed to sell, Design on a dime etc.
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Very good! Doing these things yourself will save you money and you can things done just the way you want them. You will have to buy a few tools but that’s a great investment because, owning your own home, you’ll need them from time to time anyhow.
You are right to leave the electrical work to a pro. This work is dangerous and most likely needs a permit. Plumbing? Some of it needs a pro but much of it is in the DIY arena.
Check the source I have listed, it’s pretty comprehensive. Look at the info on laminate flooring, it is easier to install than hardwood and easier to maintain. I just installed three rooms of it. Let me know of any specific questions you come up with! Good luck!
References :
http://homerenorepair.suite101.com/
SMILES… Walking you through the process might be a lifelong career; but I applaud your notion of DIY. I will say however; that not every DIY project SAVES money.
I have to say, with no offense your name fits where you live…:)
"Best" is relative in learning; as might be FAST. Certainly there are TV shows related; but are so often staged and edited/clipped, you might not get the full example in any lesson. Something I so often suggest here, which seems to NOT be something so many consider…WWW/Browser Box/Keywords…in any search.
There are trade schools you might explore.
So much of the process might also be Trial and Error; though that isn’t a bargain way to proceed.
Where you find material is certainly part of the enjoyment of the process as well…Spend time in any exploration, which can be as enjoyable as any destination.
Books, and magazines specific to what you want to learn.
internships.
Network with everyone; either in the trades or those who have knowledge of decent trades people local to you.
Again, and with no offense; you narrowly define "professionals" in stating Plumbers and Electricians. Might you not assume that anyone in any trade for any length of time; with any high level of skill; could be as professional???
Finally, and again with no offense…QUALITY has no levels. Something IS or ISN’T
Steven Wolf
Serious about being casual/ As professional as I need to be.
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45 plus years as a contractor
Your enthusiasm is commendable; However some things are best left to a professional. I suggest that you put some effort into finding a reliable general contractor. You should find a contractor who will allow you to do some of the work yourself, within the limitations of your knowledge. This will give you a project which has specific goals, budgets, and finish dates, while giving you the DIY satisfaction you desire.
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go to the library first and then looking for all the books about construction that you can find…. then start the job, so some things
are easy other very hard so think first what things do you want to do and what not you can let that experts do the job that you can´t do and make the easy one for yourself ever the people with experience can do the best job. (don´t trow away lots of money for repairs)
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I find http://www.thisoldhouse.com/toh/ is an awesome site for doing your basic DIY.
Watching the TV show on a regular basis helps with a general understanding of all kinds of DIY. You may be surprised at what projects you might consider trying to do after you see how simple it can be!
Good luck.
References :
http://www.thisoldhouse.com/toh/
Good for you! Other answers here are correct…learning is a life long process and some jobs are best left to the pros. I never really learned much from TV programs, probably because I’m sitting on the couch eating cheese doodles watching somebody do something. Better to get outside with a book and get your hands dirty. The best advice I can give you is to start at your local library. It’s free and you can check out books on everything from basic home maintenance to electrical, plumbing and woodworking.
That should provide you with a wealth of knowledge to get started. You will make mistakes along the way and you will learn from them.
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I know many people that have made a good honest living in the construction field that pertain to the needs that you have. No individual will go out of his or her way to spill about how he/she has experienced life. What you can do is work for habitat for humanity. Then you might gain some basic experience. Oh and there is no better experience than renovating yourself on your own home. I am a painter and for years, I have learned about flooring, carpentry-rough and finish, electricity, plumbing on my house and others. The other people are correct, you can learn carpentry from a coop school.
Oh why granite, it chips. I am not sure granite is as high quality as you think it is. Cabinets-confusing to look for. There are many brands and low levels of high end makers. My advice is to ask a builder who buys cabinets.
If you meet one of them at a trade show then they might teach you a little. But most of it you learn by doing.
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