Renovation and restoration projects require a lot of a homeowners time and money. While older properties do become outdated and somewhat drab over time, there are good times and bad times in life to renovate and restore a home. You must consider how much stress you are willing to deal with, how much of a budget you can set and when you will have the time to enjoy the restored space before you realistically set a renovation schedule. Here are 4 times during your life where renovations are practical:
Renovations and Demolitions Prior to Moving In
If you are in the process of buying a home, now is the time to consider whether or not you are open to extending your move-in time-line to complete much-needed renovations. It is virtually impossible to find a property that meets all of your needs, and being open to finding a home in the perfect area that needs some updating can save you money on the purchase price. By planning some major renovation projects prior to your move-in, you can set a time-line and plan your move day based on the completion date. Make sure you consider your family plans for the future when selecting which rooms to complete. By scheduling your projects before you live in the house, you do not have to worry about maneuvering around materials or inhaling dust.
Updating Your Home Following Severe Property Damage
If you fall victim to a hurricane or another type of natural disaster, it can be devastating. Once everyone in the home is safe and you are staying comfortably away from the property as it is being restored, it is time to think about the flooring and materials you will use. After you get past the frustration, you can start focusing on updating the home so it is better than it was before the disaster. Your insurance may only pay for materials that are similar to those you had prior, but you can save by simply paying the difference out-of-pocket. Though only cities like Boca Raton, Miami, and Tampa are prone to hurricane damage, there is a natural disaster that can affect your home wherever you live.
Remodel When Contractors Are Looking for Work
Choosing the right timing for a remodel is not just about when the time is right for you, you must also consider when times are right for your pocketbook. The most expensive times to remodel are those when contractors are booked. There are busy seasons and there are slow seasons, and choosing the slow season will help you save money. There are also times to start buying materials for your project, which may not always be the same season in which the work should be done. It is best to stock up on materials sold when demand is low, and store the supply for when contractor seasons are slow. Small jobs off-season can go from $200,000 to $50,000.
Schedule Your Improvements When You Downsize
Most people are familiar with remodeling to make room for a new addition, but what about downsizing once your children are out of the home? When you raise your children and you send them off to become adults, you face a new dilemma–designing a home with only you and your spouse in mind. You can dedicate rooms to your hobbies, choose a more sophisticated style, and bring outdated rooms up to date. This big life change deserves a home change as well.
Life transitions, big purchases and even home insurance claims can become a time to renovate and restore. Choose the best times in life, consider your stress levels and always look for ways to keep the budget down.