Renovation Process
Renovation Process
Once you and your contractors have decided to remodel and renovate your home, sit down and plan the complete scope of the remodeling
task at hand. The size and type of remodeling project will depend heavily on your future plans for the home. Is the home your final
residence —your "palace" —or are you planning the remodeling as an investment? If you plan to live in the home permanently, you will
obviously improve those areas that appeal to your needs. If you are buying the home for an investment or to build equity, then you must
be very concerned about the monetary value of every improvement. It is so easy to become excited about the potential of your home that
you fall into the trap of overimproving the property. If you overdo your improvements, you may not realize a return on your investment
when you sell. Even if you choose to stay in the home indefinitely, wanton overimprovements may catch up with you. How often have
you had a career change or other incident that has forced you to move? Trying to sell an overbuilt home can take time and cost you
money.
Once your contractors and contractor have selected the improvements you plan to make, prioritize the projects that bring the greatest
return for the least renovation investment. Do these projects first. Remodeling and renovation projects tend to take longer to complete
than planned. If you must sell ahead of schedule, your most productive improvements will have been done first.
The following list shows remodeling projects ranked from the most productive project to the least productive project:
1. Cosmetic renovation improvements
2. Solving minor functional problems
3. Basement finishing
4. Attic conversion
5. Addition of a deck
6. Kitchen remodeling
7. Bath remodeling
8. Garage addition
9. Fireplace addition
10. Energy upgrade
11. Sunspace addition
12. Room addition
13. New siding
14. New roof
15. Solving major functional problems
16. New windows and doors
17. Swimming pool
Nothing will increase the value of a home more than a cosmetic face-lift with contractors. These include interior and exterior painting, new
trim, new flooring, cleaning up of unsightly areas, landscaping, and other items that damage the appearance of the home. Most people's
impressions of a home are made in the first 5 minutes, and are always related to how the home looks and feels. Cosmetic facelifts are also
primary do-it-yourself projects, which will increase their return on investment.
Colors- Painting Inside and Out
Consumer marketing experts have long known the power of color and texture to influence the moods and perceptions of the buying
public. That's why so many products are sold in fancy packaging. The proper f paint can accomplish several goals: Make the home
appear clean and fresh Eliminate "old house" odors Cover patches and imperfections in walls Builders and contractors make a room
appear larger and brighter Set the mood of the room to choose renovation exterior colors that complement the neighborhood and the
period flavor of the house. Avoid ior colors that are too wild or bright. Allow accent :s in the house to provide the bright colors.
Landscaping
No true exterior face-lift can be successful without an attractive yard. Many older houses are overgrown with ragged foliage that obscures
the house and may pro-a dark and dreary atmosphere. Trim back large :s to expose the house. Adding small accent plants id the yard can
make the yard appear more groomed, or lawn suffers from poor upkeep or bare spots, con-rock or foliage gardens to cover the affected
areas, don't overspend on your landscaping. A few landscaping dollars can go a long way. Excessive landscaping not increase the home
value significantly. In fact, it reduces home value if the buyer perceives hours in the yard grooming, cutting and pruning.
Flooring and Trim
Painting, the floor and trim are the most visible thing to a home's upkeep. Carpets can hold "old house" s that are hard to eliminate. If the
carpet is in good e, steam cleaning may suffice. Older period flooring as linoleum is best replaced when worn. There is a way to improve
its appearance, you want to retain the period atmosphere of the house, examine the flooring carefully. Most older homes solid wood
floors under carpeting. You can refinish i floors for a fraction of the cost of new carpeting.
OVERCOMING MINOR FUNCTIONAL PROBLEMS
The second most profitable improvement is the elimination of design or physical limitations of the home, Thesse limitations fall into two
categories . Physical problems with the structure and Functional obsolescence.
Physical Problems
Physical repairs to the property can sometimes provide tremendous returns on your remodeling dollar. Obviously, any physical
problems with the house, such as a leaking roof or basement or a sagging floor, demand immediate attention from builders and contractors.
Fixing these problems will return the house to its former potential. Make sure when buying a fixer-upper, that you know all the hidden
costs of repair or you may find yourself inheriting someone else's albatross. Get these repairs out of the way first. Most physical repairs
will require tearing up or removing existing material. You will want renovation cosmetic changes to occur only after the structure is sound.
Dealing with Functional Obsolescence
Functional obsolescence refers to design problems in the house that may make it obsolete by today's living standards when it comes to
renovatoins. These design flaws may make the home undesirable for modern homeowners. Examples of functional obsolescence include:
■ A home with an outhouse
■ One bathroom
■ Small kitchen
■ Little or no insulation
■ Insufficient electrical rating or outlets
■ No garage
■ Poor floor plan
■ A house with a dirt floor
Traffic Flow
Many old houses were designed around the fireplaces or heaters. Each bedroom had a space heater or fireplace, with other rooms acting as
heat buffer zones. This design made for some unusual traffic patterns —traveling through a bedroom to get to the bathroom, for instance.
Examine your prospective house carefully to decide if you can solve these design renovation problems. If you cannot, look for another
house to buy. No matter how quaint a house may be, if the design is not practical for modern living, avoid it.
Once you and your contractors have decided to remodel and renovate your home, sit down and plan the complete scope of the remodeling
task at hand. The size and type of remodeling project will depend heavily on your future plans for the home. Is the home your final
residence —your "palace" —or are you planning the remodeling as an investment? If you plan to live in the home permanently, you will
obviously improve those areas that appeal to your needs. If you are buying the home for an investment or to build equity, then you must
be very concerned about the monetary value of every improvement. It is so easy to become excited about the potential of your home that
you fall into the trap of overimproving the property. If you overdo your improvements, you may not realize a return on your investment
when you sell. Even if you choose to stay in the home indefinitely, wanton overimprovements may catch up with you. How often have
you had a career change or other incident that has forced you to move? Trying to sell an overbuilt home can take time and cost you
money.
Once your contractors and contractor have selected the improvements you plan to make, prioritize the projects that bring the greatest
return for the least renovation investment. Do these projects first. Remodeling and renovation projects tend to take longer to complete
than planned. If you must sell ahead of schedule, your most productive improvements will have been done first.
The following list shows remodeling projects ranked from the most productive project to the least productive project:
1. Cosmetic renovation improvements
2. Solving minor functional problems
3. Basement finishing
4. Attic conversion
5. Addition of a deck
6. Kitchen remodeling
7. Bath remodeling
8. Garage addition
9. Fireplace addition
10. Energy upgrade
11. Sunspace addition
12. Room addition
13. New siding
14. New roof
15. Solving major functional problems
16. New windows and doors
17. Swimming pool
Nothing will increase the value of a home more than a cosmetic face-lift with contractors. These include interior and exterior painting, new
trim, new flooring, cleaning up of unsightly areas, landscaping, and other items that damage the appearance of the home. Most people's
impressions of a home are made in the first 5 minutes, and are always related to how the home looks and feels. Cosmetic facelifts are also
primary do-it-yourself projects, which will increase their return on investment.
Colors- Painting Inside and Out
Consumer marketing experts have long known the power of color and texture to influence the moods and perceptions of the buying
public. That's why so many products are sold in fancy packaging. The proper f paint can accomplish several goals: Make the home
appear clean and fresh Eliminate "old house" odors Cover patches and imperfections in walls Builders and contractors make a room
appear larger and brighter Set the mood of the room to choose renovation exterior colors that complement the neighborhood and the
period flavor of the house. Avoid ior colors that are too wild or bright. Allow accent :s in the house to provide the bright colors.
Landscaping
No true exterior face-lift can be successful without an attractive yard. Many older houses are overgrown with ragged foliage that obscures
the house and may pro-a dark and dreary atmosphere. Trim back large :s to expose the house. Adding small accent plants id the yard can
make the yard appear more groomed, or lawn suffers from poor upkeep or bare spots, con-rock or foliage gardens to cover the affected
areas, don't overspend on your landscaping. A few landscaping dollars can go a long way. Excessive landscaping not increase the home
value significantly. In fact, it reduces home value if the buyer perceives hours in the yard grooming, cutting and pruning.
Flooring and Trim
Painting, the floor and trim are the most visible thing to a home's upkeep. Carpets can hold "old house" s that are hard to eliminate. If the
carpet is in good e, steam cleaning may suffice. Older period flooring as linoleum is best replaced when worn. There is a way to improve
its appearance, you want to retain the period atmosphere of the house, examine the flooring carefully. Most older homes solid wood
floors under carpeting. You can refinish i floors for a fraction of the cost of new carpeting.
OVERCOMING MINOR FUNCTIONAL PROBLEMS
The second most profitable improvement is the elimination of design or physical limitations of the home, Thesse limitations fall into two
categories . Physical problems with the structure and Functional obsolescence.
Physical Problems
Physical repairs to the property can sometimes provide tremendous returns on your remodeling dollar. Obviously, any physical
problems with the house, such as a leaking roof or basement or a sagging floor, demand immediate attention from builders and contractors.
Fixing these problems will return the house to its former potential. Make sure when buying a fixer-upper, that you know all the hidden
costs of repair or you may find yourself inheriting someone else's albatross. Get these repairs out of the way first. Most physical repairs
will require tearing up or removing existing material. You will want renovation cosmetic changes to occur only after the structure is sound.
Dealing with Functional Obsolescence
Functional obsolescence refers to design problems in the house that may make it obsolete by today's living standards when it comes to
renovatoins. These design flaws may make the home undesirable for modern homeowners. Examples of functional obsolescence include:
■ A home with an outhouse
■ One bathroom
■ Small kitchen
■ Little or no insulation
■ Insufficient electrical rating or outlets
■ No garage
■ Poor floor plan
■ A house with a dirt floor
Traffic Flow
Many old houses were designed around the fireplaces or heaters. Each bedroom had a space heater or fireplace, with other rooms acting as
heat buffer zones. This design made for some unusual traffic patterns —traveling through a bedroom to get to the bathroom, for instance.
Examine your prospective house carefully to decide if you can solve these design renovation problems. If you cannot, look for another
house to buy. No matter how quaint a house may be, if the design is not practical for modern living, avoid it.
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