Here Are a Few Important Variables to Consider.
Things are starting to get a bit more normal (all things considered anyway), so is now the time to tackle that home remodeling project you’ve been dreaming about and putting off?
Maybe it’s a new kitchen, an add-on master suite, a bathroom renovation, or—for the ambitious— maybe even a full gut job (!). Whatever you’ve been dreaming up, there are a few important variables to consider as to whether this is a good time to move forward.
In this article, we’ll work through a few items that we think are among the most important to consider when making a decision on whether to move forward with a project.
Decide Whether You Even Want a Remodel
If you’re thinking about a remodeling project but aren’t sure if this is the right time, there are a few things to consider first. For one, is your home falling short in some material way? Is it outdated and not in line with the needs of your family anymore? If so, a remodeling project can help bring the space up-to-date while also updating the look. If your home is in great shape, you may have simply reached a point where you want a change. A remodeling project can help you style your home to your own tastes, perhaps with a modern aesthetic, an eclectic style, or a calming vibe. Or, maybe you want to bring more functionality to your space. Maybe you have an idea for a new addition, a new room, or a new space entirely. Whatever the inspiration, remodeling is a great way to bring your space up to speed or new levels. It sounds obvious but nonetheless worth asking yourself– Do I really want this? Do I need it?
Consider Adjusting the Project’s Scope
t’s a common misconception that you have to redo an entire space. In fact, a remodeling project can alter just about any part of your home. For example, if your kitchen is outdated and small, you can add a dining nook, a large pantry, or a breakfast bar to make it more functional. If your bathrooms are small and outdated, you can update one while keeping the other intact. Projects are typically cheaper when done all at once, but you can see the flexibility you can take into consideration.
Determine What You Can Actually Afford
If you’re past the “Do I need this?” step, next comes the fun job of running the numbers. Indeed, the next step is to consider your budget. Asking “Is now the right time for a remodeling project?” has an obvious connection to can you afford it. Not just the job itself, but where that money could alternatively be spent. Schooling, a new roof, the mortgage… all important things! We’re not certified financial planners, but we can say it’s so important to make sure the scale of any project matches your priorities and goals. If you’re unsure about your budget and long-term goals, speaking with a financial advisor is actually probably a good idea!). Proper planning will help you stay true to your budget and avoid any last-minute surprises. There may also be ways you can manage pre or post remodel tasks to reduce the cost, like doing your own painting.
Consider the Cost of Materials and Labor
No one knows what the future will bring. At the moment, building materials and appliance costs are inflated by high demand and supply chain issues. Labor costs are similarly higher than just a year or so ago. So planning a renovation has a lot to do with how quickly you want the project implemented and are you OK with the higher costs. There are no guarantee costs will go down in the short or medium term. We’re cautiously optimistic as there’s “no cure for high prices like high prices” but only time will tell. So whether now is the right time to engage a home renovation contractor like Cecil Construction for a project has a lot to do with the urgency of the need, as noted in the first part of this article.
Ready to Get Started? Give Yourself Some Options
Now that you’ve looked into the variables that can impact your home remodeling project, you may want to begin. If you have a contractor, they should be able to help you get started on your remodeling project. Before you do, you may want to get an estimate from a few different contractors. This can help you stay on budget and avoid any costly mistakes.
Of course, it may be difficult to do this at the last minute, but you may want to set up a few bids for future projects. Estimates are typically good for 90 days, though every contractor varies and market pressures may make that timeframe shorter.
Like anything in life, when it comes to home remodeling projects it pays to be informed and prepared. On that note, if you have any questions, please don’t hesitate to ask! You can contact us here or give us a ring!