Follow guide to starting a remodeling project Moe Toofan
Why start a remodeling project?
You need to have a well thought out answer for this question before starting the remodeling process. Maybe you don’t like the look of your home or maybe you are looking for a better resale value. Determine your goals for the project and stay focused on them during the process.
Before you meet with a contractor, write up a list of items you desire for your project and any questions you have so you can discuss them with your contractor.
How much should I spend on this remodeling project? What is the cost vs. value?
Depending on the type and extent of your remodel you can expect to recoup a percentage of the cost. For example, the Remodeling 2020 Cost vs Value report for Houston bathroom remodels will recoup anywhere from 55% - 63% of their cost. Kitchens recoup between 55% and 77%. The percentages varies depending on whether the project is a midrange or upscale remodel.
Will I pay cash or get a loan?
By paying cash, you get the benefit of increasing your home’s value without having to pay interest on a loan. If you intend to fund with a loan such as a home equity line of credit you may be able to write off interest. Ask a mortgage broker for documents and information they need to process your loan.
How do I choose the right contractor for my remodeling project?
Finding the right remodeling professional is not always that easy. Depending on your project type and size you may choose to first consult with an architect, designer, remodeler or design-build firm which can provide consultation for both the design and construction. Meet the company’s representative, ask about their resume and expertise with jobs like yours; ask about insurance, licenses and references. Note: general contractor licenses are not a requirement for building or remodeling projects in the state of Texas. You can check your local association such as the Greater Houston Builders Association to find the right team for your project.
How important is to have a design document?
It is always recommended to have detailed drawings. During the design process, especially after schematic design gets complete, it is a good idea to doublecheck your budget with the contractor. When you see that everything works to your satisfaction, move forward to finalize the design document, details, selections and specs. If there are issues, you may need to address your budget or the scope of work. This may become hard and time consuming if you need to coordinate with different parties. The benefits of hiring a design-build firm is they provide all these services allowing for a more efficient, smooth-flowing remodeling process.
What is the next step after completing design document?
Now it is time to get a proposal and sign the contract. The contractor will start pulling permits and orders materials. Your project can start after obtaining necessary permits. Then the fun begins.