Simply put, the best time to remodel your home is when your home needs it, your family is ready for it, your budget can handle it, and you've found the right contractor.
It starts with a complaint about your house: something small you wish you could change. After months or years of complaining about your problem, you become motivated to make a change. The rest happens from there. Waiting for the right time to remodel your home can make the experience satisfying, gratifying, and productive, all at the same time. Below, we've outlined the three criteria that help determine when it's time to remodel your home.
1. Your Home Needs Remodeling
There are many reasons that people choose to remodel their home. The best time to remodel happens when you can truthfully say one or more of the following sentences:
- I need more space.
- I love my home, but...
- My home looks dated.
- I don't want to move, but there's one thing I wish my home had.
- I think this problem will make my house hard to sell.
Remodeling is more than a means to an end. Your home is a valuable investment that will hopefully be worth more when you decide to sell than it was worth when you bought it. Remodeling your home increases your home's worth so that hopefully someday you'll make more money on the sale of your house. ...and in the meantime, you can enjoy your time in your house even more.
2. You're Ready
Remodeling is a big commitment: financially and in other ways. Depending on the type of remodel you're taking on, your home improvement project may even lead to a change in your lifestyle. It's only the right time to remodel your home when you're ready, and everyone affected by it is ready as well.
Your Family is On Board and Everyone Agrees
Come to a consensus with other members of your household about your remodeling goals. For example: are you adding an in-law apartment for a senior relative? Involve your senior relative and everyone else who lives in the house with you. Have a plan in mind. Will there be a division of chores? How will you divide the bills? Will you have meals together? Ask all of these questions in advance.
If your remodel is something more basic, like an exterior painting job, you should still engage in discussions with members of your family to discuss color, accent colors, and more.
You Made a Budget and Secured Financing
If you're planning to pay for your remodel with cash, then the budgeting process is relatively simple. Establish how much money you're willing to spend for your remodel, and communicate that amount to all contractors that you meet with about your job. Avoid signing a contract that is too close to the maximum amount you hope to spend. If something goes wrong with your home remodel, or if you decide to make changes midway through, it helps to have extra money on hand.
If you need to secure financing to proceed with your remodel, talk to reputable lenders that you trust. There are multiple loan types that homeowners turn to when they need to remodel their home.
- Home equity loan. A home equity loan is a loan based on the equity in your home. It is delivered in a lump sum and then paid back in fixed payments over a period of years.
- Home equity line of credit (HELOC). A home equity line of credit is a line of credit backed by your home. HELOCs function like credit cards, so you can make big purchases as needed.
- Cash-out refinance. A cash-out refinance is a new mortgage that replaces your old mortgage. The amount of the new mortgage exceeds the amount of the old mortgage, and the difference is paid to you in cash, which you can spend on your home remodel.
- Personal loan. A personal loan is an unsecured debt, so it usually comes at a higher interest rate and requires a better credit history than some other loan products. Many homeowners turn to a personal loan when they haven't owned their house long enough to have equity.
- Credit card. Credit cards are another form of unsecured debt. Though they are unlikely to have a good interest rate, credit cards are sometimes used by homeowners because they're easy to obtain.
You've Done the Research
It's important to do research before beginning a remodel. Know what you like, including material types, architectural styles, home remodeling trends, colors, and more. Look at remodeling magazines, Pinterest boards, architectural magazines, and contractor portfolios. You may even get ideas from driving around your neighborhood and attending home shows in your area.
While you don't need to have your ideas set in stone when you meet with your contractor for the first time (your contractor will have ideas you've never even thought of!), it's important to have some sense of what you're looking for in your remodel.
3. You've Found the Right Contractor
It's not the right time to start a remodel until you've found the right contractor. Interview multiple contractors before making your decision. Here's what to think about when trying to decide between several potential contractors:
License. Contractors in the state of Florida are required to be licensed. Check to make sure any contractor you're thinking about hiring has a license.
Reputation. Check their references and read testimonials. Reputable contractors may also be members of local and national associations and may have won awards that show their expertise.
Communication Style. The contractor you work with should demonstrate a real understanding of the parameters of your upcoming remodel. They should ask intuitive but probing questions, display good listening, and communicate their own ideas in a way that is
Remodeling Soon? Contact Gilbert Design Build
Are you ready to start your upcoming remodel in Sarasota, Florida? Contact a contractor with years of experience and a solid reputation. Call Gilbert Design Build for a consultation.