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If you are looking to renovate your home in 2023, you are certainly not the only one.
Over the past years, we all had to adapt to significant lifestyle challenges, some of which have become permanent ones (i.e.: working from home). On the other hand, as inflation continues to increase and house prices soar to all-time highs, families have found it challenging to upgrade their homes or buy more suitable properties.
Nonetheless, a complete remodel can be a more affordable and efficient way to keep costs low while designing your dream home. Unsure how to get started? This guide can help you and your family get ready for your 2023 home renovation project!
Work With a Specialized Company
The first step is to partner with an experienced custom home remodeling company. An expert can help you understand your needs and lifestyle, create ad hoc spaces, and work within your set budget.
Although it might seem more convenient to opt for a do-it-yourself approach, working with a professional can help you stick to your budget and avoid common pitfalls. And, of course, you’ll be able to enjoy a home that is more functional and built around your unique needs!
Allocate a Budget and Secure the Funds You Need
The next step is to obtain the fund you need to renovate your home. If you are able to pay in cash, this is certainly something you should consider. However, if you plan to borrow money from banks or lending institutions, you should start getting ready for this financial move now.
Indeed, over the past months, the Federal Reserve has increased interest rates multiple times, and it is planning to continue doing so to adjust to the changing inflation levels.
What’s more, to obtain a loan, you’ll need to make sure that your finances are in check, your employment is stable, your credit score is high, and your debt is under control. Start cleaning up your credit file today!
Consider Your Current and Future Lifestyle
When creating the home of your dream, there is a lot that you’ll need to take into consideration. Firstly, look at how your lifestyle has changed over the past years and make sure that your renovated home reflects these changes. For example, you might look to add a home office or private fitness room to your home.
While looking at your current needs, don’t forget to keep in mind your future plans. For example, if you are looking to welcome a baby or pet into your home, make sure that your property offers enough space for these changes.
Invest in Sustainability and Efficiency
If you have the chance to redesign your home from the ground up, be sure to invest in sustainability and clean energy sources. From obtaining energy from solar panels to investing in efficient appliances, there are endless ways to make your home more-eco friendly while also boosting its market value.
Check Whether You Need To Obtain Permits
If you are looking to entirely renovate your home or carry out several projects at once, the chances are that you will need permits. Make sure to speak to your designer, constructor, or architect to better understand what you need and how to obtain the needed permits in time to start the renovation as planned.
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