The concept of value engineering in renovation has never been more essential than it is today. At the start of 2009 we can still hear all sort of commotion about slow economy and troubles in the real estate market. All this should awaken renovators who are planning to increase the value of their homes, that a small miss-calculation or an over-renovation could easily destroy their profit or worse result in a complete loss.
Let me be clear, slow economy and slow real estate market does not mean that you can not remodel your home to increase its value. What it means is that you need to know what to renovate and how much to renovate in order to turn a good profit. At first sight this may seem simple; However, there is more involved than a simple question from your local renovator. To fully maximize your profit you need to understand value engineering in regard to home renovation.
Simply put value engineering in respect to home renovation is the process by which you analyze to determine what renovations will bring in the most profit for your home. Here we are going to quickly discuss the steps that must be taken to determine how to maximize your profit.
1) The first step in this process is to determine the market value of your home as well as market value of renovated homes similar to your home in your area. This is done to find out whether there is any room to profit. If the price for your un-renovated home is close to the price of a renovated similar home nearby, renovation could be a waste of time and money.
Remember, the key words are "similar homes" and "in your area". There is no point comparing your home that is built on … Continue Reading
I would just like to share a few of the many reasons trying to save a few bucks on your home renovation by doing it yourself is a BAD idea. Many people do not realize the amount of work involved in a home renovation and how crucial doing it correctly is. You may save a little bit of money in the beginning but in the long run is it really worth the countless dollars and hours spent on repairs not to mention the inherent safety hazards.
Below are some of the reasons:
Planning: Right from the beginning of the job the “planning” stage is one of the most crucial steps. Most people under estimate the importance of planning and think they will just do it along the way. Where as a Contractor who does home renovations day in and day out will have proper scheduling in place to ensure the job is complete on time and on budget.
Building codes: If you do not know the building codes, how would you ever be able to follow them to keep your family safe in your home? Provincial Building codes are put in place for a reason, they all have a purpose and that purpose is SAFETY. Would you willingly have your family live in an unsafe home? Professionals know and fallow these codes not just to pass inspection but to keep the home safe for the families who will be living in them.
Built to last: Would you like to waste your hard earned money on materials that were improperly installed and will only last a couple of years?. No didn’t think so, Not only the quality of materials used is important but the proper installation of these products. After weeks and weeks of sanding your ” do it yourself ” … Continue Reading
Maintaining or renovating a home can be a very daunting task for most people. However, after all the hard work and investment in time and resources you have allocated for a home improvement project, the satisfaction of seeing a superbly crafted home that you can call your own can be priceless indeed. Such is the importance of choosing the best and most qualified contractor who is knowledgeable and capable enough to turn your vision into a remarkable work of art.
When choosing a contractor for repairs or renovations for your home improvement project, it is vital that you first acquire all the important information about a particular contractor before ever committing in getting their services. You need to make sure that they are capable of performing all the inclusive work, including customized builds and improvements that you would want your home to have. To get all these pertinent information, you should ask your contractors a strategic set of questions designed to extract all the data that you will need. To help you start in this direction, you should ask the following set of questions:
* Does the contractor have the appropriate knowledge and experience with the type of home improvement project that you have in mind?
According to recent information from the industry, approximately 80 percent of contractors and builders are knowledgeable and are adequately trained in the latest construction and building techniques. However, even though they may have the training with these new techniques and the certifications to show for it (ex: techniques in energy-saving green building technologies, etc), their actual experience may have just been picked up or even achieved as they work on new projects. On some cases, the home renovation projects may involve a historic home with irreplaceable artifacts or sections. A contractor may not have … Continue Reading
Home renovation not only boosts the value of the home, but also improves the home appeal drastically and renders it a much comfortable place to live. In order to carry out the renovation of your property, you will require a renovation contractor. Owing to the large number of renovation contractors available in the market, it becomes quite difficult to opt for the right one.
An efficient renovation contractor is a must for carrying out successful home renovation. As per the renovation experts, it is always good to have a clear plan of action for reaching the right terminus. Hence, it is extremely important to be acquainted with the basic requirements well in advance while opting for the home renovation contractor. For selecting the best renovation contractor for your home, make sure you adhere to the following three crucial steps:
Request testimonials from various authentic sources:
The appropriate approach of figuring out the best renovation contractor for your home is to seek advice by the recommendation of authentic sources such as your relatives, friends, neighbors, etc. Moreover, it is extremely important to adjudge the extent and budget of your project while finalizing the expert for your home. Apart from seeking advice from your relatives and friends, you can seek valuable guidance from various advertising boards and hardware shops. This will help you in taking the final decision. Moreover, some of the insurance firms also offer essential advice pertaining to the home renovation experts. You can also resort to the advice of local contracting institutions as the information furnished by them is authentic and reliable.
Preparation of a potential contractor bid for your home renovation project:
The bidding procedure is one of the best methods of selecting the services of a reliable and efficient renovation expert for your home. During the process … Continue Reading
If you did not have the luxury of building your home from scratch, this doesn't mean there's nothing that can be done to improve its quality. Remodeling contractors with great construction knowledge can assist you with upgrading the various materials used interior and exterior of your home. The key is identifying which type of materials are best for the job. You'll quickly learn that there are certain materials that last much longer than the next. So if you're searching for something that's ever-lasting, then the following options are a must.
Consider Old School Masonry
If you're building an addition to your property, such as a guest house, pool house or even a garage, you should consider implementing masonry. This is an old school method that has proven for centuries its ability to withstand the test of time. Masonry involves the use of brick or stone siding. This gives the structure a more solid state, which means a higher chance of it surviving strong storms and other adversities like fires and floods. It's a good idea to consider masonry when you hire general contractors for the construction of a new home.
Don't Overlook Tile
Tile has and likely always will be a part of modern home designs. Home owners that are having home remodeling done oftentimes implement tile into their décor. Tile can be made from concrete, clay and a host of other materials. The most durable options would be engineered quartz or ceramic. These options are long-lasting and easy on the pocket. You'll just need to maintain the grout, which can become stained and dirty over time.
Hardwood Materials Are Still In
There are various areas of the home where remodeling contractors can install hardwood. You can choose to have it installed as flooring or you can use it for … Continue Reading