There are times when all you need is a coat of mauve paint to brighten up a dull room. Other times, not even a mighty sledgehammer can bring out the missing charisma in your Erath County home. Are you planning an epic remodel to renew the beauty and elegance of your household?
It’s pretty easy to imagine the new features and fixtures of your remodelled dream home because there are no set budgets or contractor fees to get in the way. While you’re off meticulously crafting your remodelled home, you’re forgetting about the mounting costs with each square foot. Here are some quick tips to help you effectively plan your remodel without going over budget.
For every project in your household, from the new dine-in kitchen island to the exquisite marble tiles for your bathroom, estimate the cost of the remodel. Generally speaking, each square foot roughly costs around $100 to $200, not including your contractor’s fee. If you’re unsure of how much the materials cost, you can always ask for help through your local NAHB (National Association of Home Builders).
For the second step, determine how much you have and how much you’re willing to borrow through loans like HELOC. Home equity lines of credit like HELOC generally give you lower interest rates and allows for deductions of interest during tax season. Be careful though—you’re not required to pay back any principal you spend until you’re maxed out. Make a payment plan and stick to it if you plan on remaining debt free.
Step three involves finding the right contractor and getting a quote. Be specific when getting quotes by explicitly stating what materials you want to use. Ask around and make sure your contractor has strong references and an impressive portfolio of completed jobs in Stephenville homes.
Finally, once you have hired a contractor, add another 15% to 20% on top of your total expenses for unexpected costs. Be sure to ask your contractor for advice on reducing costs if you see yourself going over budget.
If you’re interested in learning more about Stephenville real estate, please contact us. It would be our pleasure to assist you with your Erath County home journey.