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FAQ
How much does it take to renovate a home?
Renovations typically cost anywhere from $5,000 to $50,000. Renovations are typically a major expense for homeowners, with most spending between $10,000 and $20,000
Is it better for a contractor to hire or a subcontractor to do the job?
A general contractor will usually cost more than a subcontractor. General contractors often have many employees and charge clients high labor costs. A subcontractor on the other side only employs one person, so he/she charges less per-hour.
How do I sell my house quickly without paying realtor fees?
If you want to sell your house quickly, then you should start looking for buyers immediately. This means you must be willing to pay whatever the buyer offers. You will likely lose some buyers if you hold off too long.
Statistics
- A final payment of, say, 5% to 10% will be due when the space is livable and usable (your contract probably will say "substantial completion"). (kiplinger.com)
- It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes. (realhomes.com)
- On jumbo loans of more than $636,150, you'll be able to borrow up to 80% of the home's completed value. (kiplinger.com)
- The average fixed rate for a home-equity loan was recently 5.27%, and the average variable rate for a HELOC was 5.49%, according to Bankrate.com. (kiplinger.com)
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
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How To
How can I plan a complete house remodel?
Planning a whole-house remodel requires planning and research. Before you even start your project there are many important things that you need to take into consideration. The first thing to do is decide what kind of home renovation you want. There are many options available, including kitchen, bathroom and bedroom. Once you've decided on which category to work on you will need to calculate how much money is available for your project. If you have never worked on homes, it is best to budget at most $5,000 per room. If you have more experience, you might be able spend less.
Once you have established how much you are able to afford, you will have to decide on how big a job to do. If you have only enough money to remodel a small kitchen, you may not be able add new flooring, countertops, or paint the walls. You can do almost everything if you have enough cash for a full-scale kitchen renovation.
Next, look for a contractor with experience in the type or project you are looking to tackle. You'll get high-quality results and save yourself lots of headaches down the line. You should begin gathering materials and supplies after you've found a competent contractor. It depends on how large your project is, you might need to buy everything made from scratch. There are many stores that offer pre-made products so it shouldn't be difficult to find what you need.
Once you've collected all the materials you will need, you can begin to plan. You will first need to sketch out an outline of the areas you plan to place appliances and furniture. Next, design the layout of your rooms. Be sure to leave enough room for electric outlets and plumbing. You should also place the most frequently used areas closest to the front door, so visitors have easy access. Last, choose the colors and finishes that you want to finish your design. To save money and keep your budget low, you should stick to neutral tones.
Now that your plan is complete, it's time you start building! Before you begin any construction, make sure to verify your local codes. Some cities require permits while others allow homeowners to build without one. Before you can begin construction, remove any walls and floors. The next step is to lay plywood sheets on your new flooring. Then, you'll nail or screw together pieces of wood to form the frame for your cabinets. Finally, attach doors to the frame.
There are some final touches that you will need to make after you are done. For example, you'll probably want to cover exposed pipes and wires. Plastic sheeting and tape are used to cover exposed wires. It's also a good idea to hang mirrors and photos. Make sure to keep your work area neat and tidy.
These steps will ensure that you have a beautiful and functional home, which will save you tons of money. Now that you have a basic understanding of how to plan a house remodel, it's time to get started.