Education and news for smart DIY landlords!
Home upgrading is an essential part of living in a house and investing in real estate. It makes your stay worthwhile as well as increases the home’s future value. But when we think about improving our homes, there’s a lot to consider when we look around the abode.
At one moment we think about changing the bathroom setup and building a pool on the next. But before you do anything, always follow a plan for a safe renovation. Here’s how you do it.
Dispose of the unnecessary items in your home. Clearing your house will give you a clear view of what needs improving inside. While you’re at it, it’s also advisable to hold a garage sale on items that still have value to add money to your improvement budget.
When you’re done decluttering, look around your home and assess if there is a need for repairs or just cosmetic improvements. Start by looking for chipping paint or by knocking on wood parts. Hollow sounds will indicate that there is internal rotting.
Before making any plans, always prioritize the integrity of your home. Check for the concrete posting, roofing, plumbing, and flooring for any wear and tears before you decide to focus on cosmetic upgrades. Home integrity is very important because skipping maintenance and repairs will cause more expensive damage in the long run.
If your home integrity is fine and there’s no need for repairs or maintenance, then start on writing down the areas of your home that deserve improvements. Ask yourself, “Does the kitchen need an upgrade or does the bathroom come first?”
It is important that you should know how to prioritize which goes first to avoid being overwhelmed by a false sense of urgency. Once you have made an intricate list of what comes first and what goes after, make your plans on what you want to happen.
Having a clear view of how much time and energy you have is just as important as knowing your budget. If you don’t have enough time or are tired to make home improvements, your projects will end up being substandard or worse - no improvement may happen at all.
Yes, you can hire people to make upgrades but it’s really different when you’re there all the way supervising and checking every upgrade progress.
Which money source are you going to choose to finance your home upgrades? Is it from a loan or your savings? Whichever it is, determine how much you can afford. It’s better you can release more money than your plans to be really safe.
Being short on cash might make you resort to using substandard materials. If your plans are much more expensive than your budget, it’s better to make small improvements or focus your upgrades on a different part of the house.
When thinking about home upgrades, make plans for projects that actually increase your home’s value in the future. Examples of good upgrade investments are to finish your basement or add a stone veneer to the front of your home.
Start with affordable home repairs, maintenance, improvements first before working on costly plans. Upgrade appliances that will save you a lot of money from utilities such as an energy star refrigerator, dual flush toilet, or space-saving toilets.
Tip: Green homes are the best real estate investment you can do because it increases value exponentially over time.
Know your budget first. Do repairs and maintenance in your home to put safety above everything else. When there is no need for repair or maintenance, only then you should focus on making cosmetic upgrades. Remember, a cost-efficient home will sell at a higher value in the future.
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