Whether you have bought a diamond in the rough, or have just decided it is time to remodel your home it can be difficult deciding which space to renovate first. Here are some considerations to help you decide where to begin.
First consider your needs. Is there any one space that is interfering with your comfort or everyday needs? Perhaps a bathroom is leaky and causing further damage to your home. Maybe your kitchen is a complete disaster making preparing meals a nightmare. You might even have serious issues such as poor insulation or a leaky roof. Look at how each issue is affecting the condition of your home and your comfort and prioritize based on the severity of each room.
While you get started on major changes you can also look at some quick fixes. For example you might need new appliances in the kitchen and laundry room. This is an easy fix that can be addressed right away. Other easy fixes might be basic cosmetic changes such as a fresh coat of paint.
Realistically you will only be able to do the changes that you can afford. Once you prioritize the changes that are needed consider making a budget plan that allows you to take on projects one at a time. Balance need and want in order to make the right decisions. Here is a good way to prioritize:
• Must Haves: Look at all of your must haves. These are issues that will affect the safety of your home such as mould removal or a major leak in your roof or foundation. You might also have an oven or fridge that doesn’t work. Consider the cost and see which of these must haves are affordable.
• Timing: Look at each project and come up with a plan that you can map out on a schedule. Speak to a contractor and see if there would be any savings by electing to do certain things at special times of year. Also see if there are discounts for doing more work at once.
Once you have a scope of the work required speak to your bank and see what credit is available. They might make the decisions and planning easier if you have access to a line of credit that will allow you to make all of the changes you need.