Remodeling Priorities – 4 Tips for Prioritizing on a Budget
Prioritizing remodeling choices on a budget can be one of the most difficult parts of the project! After all, there’s so much you’d like to do, and all of it seems important. How can you possibly choose between updating the bathrooms and finishing the basement?
We completely understand. Luckily, we often work with homeowners remodeling on a budget and have plenty of experience crafting projects that stay well within bounds. If you’ve ever gone through our testimonials & reviews, you know extensive planning is an essential part of our process.
This blog is for people struggling to choose between home renovations. Here are four tips to help you decide on your remodeling priorities on a budget.
Think about what needs to be repaired.
Let’s say you’ve just refinanced your home and have about $20,000 to work with. What do you do first: repair the aging roof or transform the basement into livable space?
Answer: repair the roof! What needs to be done to keep your home functional should always take top priority when you’re making remodeling choices.
Think about resale value.
Resale value is a great way to straighten out your remodeling priorities. Every year, there’s a new report on the home improvements that glean the greatest return on investment in your area – and consulting this report can help you decide between projects.
Choosing between a new front door or eco-friendly windows? Check out the report and see which one will get you the most at resale.
Think about what you need.
Of course, what you need should definitely be a factor when setting your remodeling priorities! Maybe a new laundry room with green appliances and a pet bathing station is on your list of things you want… but so is redoing the closet in the master bedroom. Consider which one would make a bigger impact on your everyday life. Of these two projects, which would make living in your home easier, more enjoyable, and better fitting for your personality?
These questions could help you discern which renovation to prioritize.
Think about what’s going on in your neighborhood.
Last but not least, you might want to consult a real estate agent before committing to a major remodel. (Whoever helped you purchase the house would be a good person to call.)
The reason this is a good idea is you should make sure adding significant value to your home is appropriate for your neighborhood. After all, eventually you might want to sell your home, and that could be a lot harder if its value is drastically higher than the homes around it. Finding out what’s going on with the market could be an enlightening means of setting remodeling priorities.