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FAQ
Is it better for a contractor to hire or a subcontractor to do the job?
Hiring a general contractor is usually more expensive than hiring a subcontractor. A general contractor has many employees, so they often charge their clients a lot of money for labor costs. Subcontractors, on the contrary, hire one employee and charge less per hour.
What is the cost of renovating a house?
Renovations can cost from $5,000 to $50,000. Most homeowners spend around $10,000 to $20,000 on renovations.
What should I consider when buying a new home?
You need to ensure you have enough funds available to cover closing costs before you buy a home. If you don't have enough cash on hand, then you might want to think about refinancing your mortgage.
How can I avoid being taken advantage of when I renovate my house?
It is important to understand what you are buying to avoid being scammed. Read the fine print before signing any contract. Do not sign unsigned contracts. Always ask for a copy of the signed contract.
Statistics
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
- They'll usually lend up to 90% of your home's "as-completed" value, but no more than $424,100 in most locales or $636,150 in high-cost areas. (kiplinger.com)
- The average fixed rate for a home-equity loan was recently 5.27%, and the average variable rate for a HELOC was 5.49%, according to Bankrate.com. (kiplinger.com)
- It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes. (realhomes.com)
- On jumbo loans of more than $636,150, you'll be able to borrow up to 80% of the home's completed value. (kiplinger.com)
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How To
Do you prefer to renovate the interior or exterior?
Which should I choose first?
There are many factors that you should consider when choosing the right project. Most people consider whether the building is new or old. You should consider the condition and age of the roof, windows, doors, flooring, electric system, etc. When the building is new, there are many things to consider such as its location, size, number, style, and so forth.
The roof is the most important thing to inspect if the building is older. If your roof seems like it is about to fall apart, then you should get on with the renovation. You can proceed to the next step if the roof is in good condition. Next, inspect the windows. The windows should be inspected for damage or dirt before you do anything else. Next, clean the doors and ensure that they are free of debris. Once everything is clean, you can then begin to put the floors together. You should ensure that the flooring does not crack or become unstable no matter how many times you walk on them. Now you can start to add the walls. Take a look at the walls to see if any cracks or damage are present. If the wall is in good condition, you can move on to the next step. After the walls have been inspected, it is time to inspect the ceiling. You should inspect the ceiling to ensure that it can withstand any weight you put on it. Then you can start your renovations if all goes well.
You would want to begin with the exterior if the building was recently built. Start by looking at the outside. Is it in good condition? Are there cracks around? Does it look good overall? If your exterior isn't looking great, you should make some changes. You don’t want to make your home look bad. Next, you need to inspect the foundation. If your foundation appears weak, you should fix it. You should also inspect the driveway. It should be straight and level. It should be smooth and flat. If it isn’t, you need to fix it. Also check the sidewalk when you are checking the driveway. If the sidewalk is uneven, it should be replaced.
Once you have completed these inspections, you can now move on inside the house. Look at the kitchen first. Is it clean and well-maintained? If it is messy, then you should probably clean it up. Next, make sure to inspect the appliances. You want them to be in good order and working correctly. If they aren’t, you need to either get new ones or fix them. After this, check out the cabinets. You can paint them if the cabinets are stained or damaged. If they are in good order, you can move onto the bathroom. In here, you should check the toilet. You should replace it if it leaks. If the item is only dirty, you can wash it. Next, make sure you inspect all the fixtures. Make sure they're clean. They should be cleaned if they are dirty. Lastly, check the countertops. If the countertops are cracked or chipped, you might want to repaint them. If they are smooth and shiny, then you should probably use some kind of sealant.
The final step is to inspect the furniture. You should make sure nothing is broken or missing. If it's missing or damaged, you need to find it. It is best to repair any broken items. After you've checked everything, it is possible to move outside and complete the job.