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8 Tips for Budgeting for a Home Renovation

8 Tips for Budgeting for a Home Renovation | Moving.com

Whether you plan to renovate a house before moving in or are preparing to remodel your current abode, we know budgeting for a home renovation can be a tough process. First, you’ll need to determine what it is you really need versus what you simply want. Next, you’ll have to figure out how you’re going to finance the renovation in the first place. Once you have a general idea of how much money you have to spend on renovations (and where that money is coming from), you should be able to make better decisions on finishes, appliances, and other renovation features.

Remember: most renovations end up costing more than originally thought, so be sure to have a money cushion set aside in case of emergencies. This is especially true if you plan to tear down walls and make structural changes, as these projects often end up with unwelcome surprises (think: water damage, mold, or electrical and wiring issues). Many homeowners may also be concerned with ways to cut costs and save money without compromising the quality of the home. For tips on budgeting for a home renovation, check out our expert advice below.

8 tips for budgeting for a home renovation

  1. Decide on your top renovation needs and priorities
    The reason for renovating your home probably has something to do with a need that isn’t being met by your current living situation. Perhaps it’s a need for more space or perhaps it’s a need for an updated bathroom. Whatever the reason (or reasons) for renovating, be sure to write down and prioritize all of your remodeling goals. For instance, a larger kitchen island may be at the top of your priority list, whereas updated appliances may be lower down on the list of needs. Keep your goals in mind and avoid getting side-tracked with smaller projects that can wait for later.
  2. Look at cost vs. value for each renovation project
    Planning to sell your home in the future? Keep the return on investment top of mind when choosing home renovation projects. After all, there’s no reason to pour $40K into a kitchen, if the home isn’t going to sell for more than you originally paid. Once you’ve prioritized your home renovation needs, research each project’s cost vs. value using Remodeling Magazine’s latest Cost vs. Value report. The report includes the cost of common remodeling projects and compares them to that project’s resale value. This should give you an idea about which projects are worth the money and which projects aren’t. For instance, the 6 most valuable home improvement projects of 2018 included an upscale garage door replacement, manufactured stone veneer, the kitchen, siding, and vinyl window replacements and a bathroom remodel.
  3. Figure out how you’re going to finance the renovation
    Now for the hard part: figuring out how exactly you’re going to finance this renovation. First, take a look at your current finances. Do you have enough cash to cover the renovation? If so, great. If not, you’ll need to borrow money for the project. Unless you have a fairy godmother willing to loan you cash, we recommend either using a home equity loan or home equity line of credit (HELOC), where homeowners can borrow money against their home. Many homeowners also use credit cards to finance their renovation projects. This may be a good idea – assuming you have a plan to pay these credit cards off. If you have strong credit, you may also be able to obtain a loan through SoFi, an online personal finance company providing personal loans and mortgages to high-income individuals.
  4. Talk to others who have finished similar renovations
    Discuss your renovation project with someone who has experienced it first-hand. In addition to obtaining knowledge and tips on how to complete a successful renovation, you may also learn how to cut costs and budget appropriately for certain projects. For instance, someone who has renovated a master bathroom before should be able to give you tips on where to find good deals on hardware and supplies. In addition to telling you what to do, they should just as easily be able to tell you what not to do when it comes to renovations. Learning from their mistakes could end up saving you a substantial amount of money.
  5. Create a list of specific needs and goals for contractor bids
    After going over your needs and wants, create a clear list of renovation goals to hand to contractors. This will ensure that your bid (or cost estimate for the renovation) is as accurate as possible. Make sure to include both major structural changes to the home and cosmetic changes. Examples of what to include on a kitchen renovation list include demo, new quartz countertops, new custom-made cabinets, painting kitchen cabinets and walls, new subway tile backsplash, ceiling beam installations, and new GE appliances. Make sure to include specific brands you plan on using as well. From here, a contractor should be able to give you a much more accurate quote.
  6. Obtain bids from at least three general contractors
    If you’re planning to use a general contractor, we recommend obtaining bids from at least three different contractors. It’s not uncommon for bids to differ wildly. If a contractor is particularly busy or charges a hefty percentage, then you can bet that bid will be higher. According to Angie’s List, most general contractors charge “between 10 to 20 percent of the total cost of the job.” The total cost of the job includes materials, supplies, labor, permits, etc. Be aware of contractors that give you a too-good-to-be-true estimate. For example, if three different contractors tell you that the project will likely cost between $30K and $40K, but one contractor tells you he can do it for $10K, this could be a red flag that the contractor is either lying to you or is inexperienced.
  7. Research materials and sources for the new home
    When budgeting for a home renovation, it’s absolutely crucial that you have some idea about how much everything costs. We recommend spending a substantial amount of time researching your specific renovation needs. From the cost of countertops and appliances to the cost of bathroom vanities and flooring, researching these specifics will allow you to keep an ongoing tally of renovation costs. While you can always research costs online, you should also spend time at your local Home Depot, Lowe’s Home Improvement, Ferguson Showroom, and local warehouses where granite, marble, and other stone surfaces are sold.
  8. Cut costs where you can
    Of course, cutting unnecessary costs where you can is never a bad idea – especially if you’re on a tight budget. Those unwilling to compromise on quality materials or finishes should look into purchasing gently-used or refurbished items. Your contractor may also be able to find leftover stone slabs from previous projects. Other ways to cut back on renovation costs include purchasing items when they go on sale, hiring subcontractors instead of a general contractor, and doing a little DIY work (i.e. painting a room yourself).

Preparing to renovate your new home?

Renovating a home can be an all-consuming process, meaning you likely won’t have time to plan a complicated move. Fortunately, Moving.com’s extensive network of reliable movers makes it easy to book the best moving company for the job. All relocation companies in our network are licensed and insured, so you can rest assured that your move will be in good hands. Best of luck and happy moving!

How To Find & Choose The Best Charlotte Commercial Door Installer

Strong, sturdy, durable and energy-efficient commercial doors are an integral part of your workplace’s security. When searching for a commercial door installer in your city, you really want to make sure that you take the right pick. With the whole spectrum of contractors in the business, it seems quite confusing to select the right, reliable one. It’s essential to find and choose a company that you can develop a long-lasting relationship with so that you can seek help in the future, if needed. Here is how to find and choose the the best commercial door installers in your city.

Look for The Company’s Experience

The first and foremost thing to consider when searching for a Charlotte commercial doors installer is their experience and expertise in their field. When you browse through different companies, ask how long they have been in business. Also make sure the contractor you show interest in has an extensive experience to handle different types of commercial door installation projects. A company that’s operated over several years and has survived the tough competition in your city will surely be more reliable and skilled in tackling the projects. Plus, they will also have a hands-on experience in solving problems associated with the job efficiently and quickly. On the other hand, a new name in the business is likely still going through a learning phase with scope for improvement and more error margin. Also, check whether the company has the expertise needed to offer exactly what you need. Do they install new doors or simply repair pre-installed commercial doors, or do both?

Check Whether the Charlotte Commercial Door Company is Licensed and Insured

When you are making a choice, always settle for a bonded, licensed and insured company. A Charlotte license ensures that the contractors and technicians are well qualified to work on your building. A company that is bonded is trustworthy and is ready to take the entire responsibility if an unfortunate incident or an accident happens during the course of your project. You can rest assured that the company is going to take care of the same. An insured company provides you great peace of mind – if an injury happens during the installation or servicing of your commercial doors, the cost is not going to fall on you or your liability insurance.

Check their Reputation and Reliability

Once you have listed a few options to choose from, each of which meet the basic aforesaid criteria, you next head to qualitative information. It’s time to check for their reliability and reputation with their other customers in and around your city. You can always begin with checking out some reviews and ratings online with the help of proliferation of service rating sites. If the amount of content online makes it hard to settle for one, you can ask around for testimonials. You can ask similar professionals and businesses in your city about which companies they feel satisfied with, or can also speak with their previous clients to learn about their business.

Do their previous clients recommend them or ask you to look for another? Ask about the problems the clients faced and whether the issues were efficiently resolved or not. Another option is to ask the company about their recent projects and check if they have any photos of their projects. Make sure their past work matches the service quality that you expect as learning about their abilities is going to get you more peace of mind.

Check for the Company’s Turnaround Times and Emergency Services

Make sure you consider the turnaround time the commercial door installer promises. If your workplace is managing without a well-functional door right now, you surely haven’t got much time to wait around for the company to come and get the needed repairs done. So, the idea is to choose a company that provides round-the-clock services.

Also, inquire whether they offer emergency services when needed. What if a sudden storm rolls through and damages the door? Does the installer respond right away? Otherwise, waiting too long can hamper your work and affect your business negatively. Going for a company that provides quick emergency service ensures peace of mind.

Check How Much Will The Job or Service Cost

One of the most important factors to consider before hiring commercial door installers for a job is their pricing. Make sure you ask them about how much the entire project will cost as well as compare it with the budget you have for the project. This includes checking the style of commercial doors, the material, the brand, the cost of labor as well as all other elements that influence the overall pricing. Get quotes from each of the companies when you are browsing for the installers, further comparing the individual quotes with each other.

It’s great to ask questions specific to the products and services you’re interested in. Look for a company that has got a bundle of options to suit your whims and preferences, as well as the needs of your commercial building. Whether it’s your last priority or the very first thing on your mind, your budget is a must-consider element in the decision-making when you are selecting a commercial door as well as a good installation company for the same. Apart from a range of options, look for quality products and brands – and go for an installer that has got it all at reasonable prices.

Go Through the Contract in Detail

It’s a must to review all the details and specification mentioned in the contract before you sign it. Make sure to get everything in writing, right from the services offered and the insurance details to the exact quote of your specific job. If not, you might experience clashes or miscommunication in the future. Make sure there are no hidden terms that pop up later.

The above tips and tricks surely make it so much easier to look for a commercial door installation company in Charlotte, NC that provides the right quality of products and services, that too at a great price. Whether you want to install, maintain, or repair commercial doors, all you need is to keep the aforesaid in mind and voila!

We recommend a commercial door installer below. Reach out and request a quote for your business / commercial building!

What Are The Benefits Of Custom Closet Organization?

Do you ever wish you had a better way to organize your clothing and other belongings? One of the easiest ways to keep your home looking neat and tidy is to store things out of sight. Unfortunately, not all homes have adequate closet space, and the closets that come with older houses are often poorly designed. This is particularly true for people looking for custom closet organizers in Greenville, Jamestown or Philadelphia, which are all historic towns. Whether you live in one of these cities or somewhere else, you may be in need of a custom closet builder. Even if you live in a brand new home, having a custom-designed closet offers many benefits.

Custom Closets Reduces Stress

Studies shows that orderly surroundings decrease stress levels. Eastern cultures have known this for awhile. Feng Shui is a philosophy that encourages visually-appealing organization as a way to stimulate personal growth. Having large enough closets will allow you to keep your home clutter free. Eliminating visual clutter is especially important for those who work from home. Even if you don’t work at home, shouldn’t your house be as well organized as your workplace? Having fewer items visible in a room will help you relax, regardless of your lifestyle. Not only that, but walking into a well-organized closet in the morning is the perfect start to anyone’s day.

Custom Closet Organization Makes Life Easier

Do you ever have trouble finding the mate to one of your shoes? Or what about that perfect sweater to match your outfit? You’ll get out the door faster when it’s easier to find things, and you don’t have to become an extreme minimalist to start keeping better track of your things. You just need a simple organization system to follow that is based on the way you already live. You don’t need to get rid of the things you love, you just need a place for them.

Custom Closets Improves Housekeeping

A place for everything and everything in its place is an old adage about home organization. Typical closets don’t have many shelves and compartments, so most people end up storing many items on the closet floor. If you have a compartment for a particular item, you’ll resist the temptation to just toss it into the bottom of your closet. Maybe you’re already good at keeping track of your things, but what about your significant other? Does he or she have a vast wardrobe that is taking over your room? Your bedroom ought to be a peaceful haven, as opposed to a secret dungeon that you are embarrassed to show to guests. Having adequate closet space will allow you to open your bedroom door again.

Custom Closets are Made Just for You

Even a brand new luxury home wasn’t necessarily built with you in mind. It’s easy to adapt your furniture to most floor plans, but closets are another story. People have drastically different priorities when it comes to the number of items they want to store. Maybe you’re a regular “clothes horse“, or maybe you collect designer shoes and handbags. Because custom closets are designed with your own personal input, they will be specifically customized to your particular needs.

Custom Closets are Adjustable and Great for Kids

As your children grow, so does their clothing. Every0ne knows about cribs that later convert into beds, and this convertible furniture saves money. However, most people don’t realize that a custom closet organizer can build a closet that actually grows with your child. The closet can be adjusted to accommodate longer clothing as kids get taller. A side benefit of having custom closets for children is that is teaches them how to be organized.

Custom Closets aren’t Only for Clothes, Shoes, and Handbags

When you think of custom closets, you probably picture aesthetically pleasing collections of suits, dresses, shirts, pants, shoes, and handbags. But custom closets can also house collections of all types. Maybe you like board games or want to store certain books out of sight. People collect all sorts of things that are better kept behind closed closet doors.

Custom Closets Pay for Themselves. Especially in Greenville, SC.

Here are a few questions to ask yourself:

  • Have you ever bought something only to realize that you already had it at home?
  • Have you ever found something in the bottom of your closet that was brand new and still had tags on it?
  • Do your shoes ever get smashed by boxes of junk you shove into your closet?

If you answered yes to any of the above questions, a custom closet can save you money. Keeping track of your belongings and taking care of what you already have will go a long way in cutting your expenses. Having everything visible in your closet will also help you to better rotate your wardrobe. When you wear each item less often, that’s less wear and tear on it.

Custom Closets Impress Your Friends

The next time your BFF asks to borrow an outfit, wouldn’t it be amazing to take him or her into a beautifully-organized and well-lit custom closet? If you love the idea of showing off your prized possessions to friends and family, a custom closet may be a luxury worth investing in.

Custom Closets Will Increase the Value of Your Home

Speaking of investments–selling a home isn’t always easy in today’s competitive real estate markets. However, having adequate storage can give your home a distinct advantage and these custom closet projects can increases your homes value. You may be surprised to discover that you aren’t the only one with a passion for organizing and displaying your possessions in a beautifully organized space.

In conclusion, if you have trouble finding things because of disorganized, overstuffed closets or clutter, it’s time for an upgrade by hiring a custom closet organizer for your next home organization project.

Here’s a top-rated closet company we found in South Carolina: