Home renovations will enhance the value, usability, and overall appeal of your property. Making sure that these projects are feasible, however, is vital for keeping your living costs under control. With good planning, you can build considerable sweat equity, without breaking the bank.
Save for Big Budget Projects in Manageable Increments
You’ve just bought a new home for sale in Irvine and can’t wait to grab the hammers, but it is important to remember that there is no need to get everything done at once or right away. Try to establish a ballpark estimate of how much the planned work is likely to cost. Major home improvements such as family room additions and bathroom remodels typically cost about $100 to $200 per square foot. Modest improvements average about half of this. If you have a very nominal budget to begin with, think about saving up for your project by the square foot. You can also break your project down into manageable phases so that only minor, affordable changes are made at any one time.
Make a Cost vs Value Assessment
Make a comparison of prospective project costs and the value that these efforts are likely to supply, even when looking at a house for sale in Irvine. This will help you determine which jobs are highest in priority and which can be put on hold. If your current bathroom design is unable to accommodate the needs of everyone in the home safely, renovating this space is far higher in priority than efforts to secure more attractive flooring in the entryway. If there are tripping hazards or other potential liability issues, these should also be high on your list of improvements and repairs.
Look for Contractors Who Are Aligned with the Best Supply Companies
Getting your project supplies from the contractors who will be installing them is the best way to keep customer satisfaction guarantees in tact. You can save considerable sums of money on your home improvement projects by looking for companies that use the best materials suppliers. This will give you access to an impressive range of materials along with some of the most competitive prices in the industry. It can also simplify and streamline your remodeling efforts by limiting the likelihood of frustrating materials-related delays.
Talk to Contractors About Retention Payments
Ask contractors whether they are willing to accept retention payments. With these, you can pay for a major project in feasible increments, rather than paying for everything upfront. Best of all, you’ll have the ability to review and approve the completed work at the end of each job phase, before releasing your payment for any additional labor and materials. Retention payments are ideal for homeowners who want to schedule major remodeling jobs all at once, even though they lack a portion of the funds for doing so. As new income is earned throughout each job phase, homeowners can apportion the necessary monies for future payment.
Remodels and renovations aren’t for all homeowners—maybe you’d prefer something move-in ready. Whatever you’re looking for, call Irvine Residential Living at (714) 454-6304. We specialize in Irvine real estate, including houses, town homes, and condos for sale in Irvine. Whether you’re looking for something you can put a little sweat equity into or a property newly built, we can help you find the dream home right for you and your family!