First-time homeowners soon find out their starter home is just too small when their first-born begins toddling around. But this doesn’t mean that they need to run out and buy a bigger home, simply that they may need to consider the idea of making some renovations, alterations, and extensions to make room for their growing needs.
Before diving headfirst into remodeling, there are however a few factors that you need to keep in mind:
1. Plan Ahead
Don’t simply make plans to extend the home to suit your immediate family requirements. Think ahead. Do you plan to have more children in the future, will your parents need to move in at some point and do you have a great entertainment area that you can adapt as your kids need change when they reach adolescence? One idea would be to create a den or teenagers retreat and another to create a great outdoors area by building a deck or patio area. For timber deck construction ideas click here.
This will give you the benefit of making the necessary renovations in one go rather than having to go through the process again shortly. And with the growing cost of building materials, labor, and other remodeling costs, sooner is better than later.
2. The Cost
Good quality, professional home extensions are costly, there’s just no getting around it. In fact, if you skimp on the quality to lower the cost, you may regret your decision at a later date. So make sure that there is enough room in the budget to renovate just the way you want. A little wriggle room is also a good idea to take care of any incidentals that may arise during the renovation project.
If you simply don’t have the cash available, approach your mortgage holder and find out if they will extend the loan to provide you with the necessary funds. Alternatively, take out an additional loan. Always remember that the value that the additions will add to your property will be more than worth the money you spend in the long run.
3. The Contractor
Once again, the keyword here is quality and without a qualified, skilled and experienced contractor, you simply aren’t going to get the same standard of home renovations. So take your time to find just the best contractor available to you that will meet the specific requirements of your renovation.
It may be best to find a reputable contractor before you start your planning and budgeting phases of the project. You can then work your budget around the cost of the contractor as well as get them involved in the planning. Remember that a good contractor will have contacts in the industry that could provide you with lower costing building materials, equipment, and other necessities.
The cost you save on these goods should offset the higher rates of a professional contractor. However, even the best contractor needs to be supervised to make sure that you stay in contact with them and that they are reaching the projected milestones to ensure that the project stays on track.
So before you hit the real estate market looking for a bigger family home, first look around and see what your current home has to offer with an extension or renovation.