Property Investment Basics: Essential Tips for Planning a Successful House Remodel

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Planning a complete house remodel can be quite overwhelming, to say the least. While it is true that once everything is done you will be left with a beautiful new space for rent or sale, the process of planning and remodeling itself is anything but fun and easy. 

That’s why you should see how you want to approach the matter beforehand, in order to reduce stress as much as possible and ensure smooth sailing once the remodel begins. However, in order to be able to do so, here’s what you’ll need to do first:

Know exactly what you want

Before you get too deep into the planning stage of a remodel, you first need to identify what you actually want to achieve with it. If you simply want to upscale your property a bit and make it look just a tad more welcoming, do know that such a project can easily be handled without any major planning or budgeting. On the other hand, if you’re considering completely changing the house – either from the outside or the inside, you will have to decide precisely what you want to do and how you want to do it. Make sure you write all the ideas down to make sure you don’t forget anything important and go over them with a contractor to see if everything you wish to achieve is doable.

Create a budget

Next, once you have a clear picture of everything that needs to be done, you need to determine your budget. Contact various contractors and ask them for estimates regarding the price of the project. When determining the budget, you should take the contractor’s bid and add about 20% contingency because unforeseen problems that require additional funds are likely to occur and you want to be ready to tackle them. Finally, if you feel like your budget is stretched too thin, it would be wiser to be patient and revisit the remodeling idea once you are sure that you have enough necessary funds.

Get some professional help from depreciation specialists

Now that you have a clear plan of action, as well as the necessary budget in place, you can start organizing the remodel. But, before the contractors begin their part of the work, there’s another expert you should seek some help from – quantity surveyor and depreciation estimate professionals. These experts will help make sure that everything is going according to plan and that the budget doesn’t spiral out of control. Furthermore, experienced quantity survey specialists in Canberra will even deliver professional, accurate and aggressive depreciation forecasting for their clients, which is definitely something to look forward to. All of us want to save money wherever and however we can and hiring a quantity surveyor will definitely help you achieve just that.

Hire the right people

As far as any professionals and contractors are concerned, you need to be absolutely certain that you’ve picked the best ones. First, you can ask your friends and family who’ve done similar projects to refer someone they were happy with to you. Next, if none of your friends and family can refer anyone, you can interview a few contractors you have managed to find yourself. Finally, explore online reviews and try to find the right contractor based on those. However, no matter which approach you opt for, you should still ask to see their permits, references and portfolios before you decide to hire them to ensure they really are the best fit for the job at hand. 

Stick to the original plan

Finally, as already mentioned, you need to make sure you are both absolutely satisfied with your original plan and that everything you’ve initially envisioned can be done before you begin your project if you want to avoid unnecessary costs, delays and stress. The reason behind this is simple – once the remodeling begins, changing any aspect of it will require other aspects to be changed as well.

As you can see, planning a house remodeling project and doing it right is not that difficult. However, it does require a meticulous approach, thorough research and a lot of patience.

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