Embarking on Our Renovation Adventure: 5 Must-Know Tips for Your First Home Renovation

Hello! It’s been a challenging yet rewarding year so far! Me and my husband welcomed our first child, and on the other side of things we lost our dear father. Navigating these life changing events has certainly had its ups and downs and is a straight up PROCESS, but God is faithful and we are grateful for life and the opportunities that have been presented to us, such as property! We have decided to take on the task of renovating and renting out our father’s condo. It is bittersweet as there is much sentimental value, and on the other hand, it is affording us an opportunity to build generational wealth. It certainly seems to be a great way to honor such a great dad!

While the property doesn’t necessarily need a full gut, it most definitely needs a facelift! Built in 1976, it comes with good bones for sure. I know a thing or two about preparing a property for the market (property manager by day) and I love the process of  planning, organizing and executing a project in a timely and efficient way. I hope to share tips along the way as it relates to planning, budgeting, designing all the way down to even managing a property as a rental. If you’re interested in all things design, and even real estate and property management, I hope you stick around!

First things first, PLAN PLAN PLAN!

Renovating a property is an exciting journey, but it requires meticulous planning to ensure success. If you are on this journey as well, here are some tips to get you on the right track:

1. Assess the property. Before diving into renovation, evaluate the condition of your property. This involves the entire exterior and the interior, and includes such things as the roof, any stairs or decks, the plumbing, electrical and HVAC systems, windows, flooring and even outdated fixtures.

2.  Set a Budget! This is a touchy one for me, as I like to spend - but if I want my money to go a long way, and to work for me, I’ve got to tell my money where I want it to go.

Create a realistic budget by considering the following:

1. Based on your property’s assessment, prioritize necessary repairs.

2. Look into the costs of materials, labor, and permits. Rule of thumb in my industry is to get at least 3 quotes, ensuring that the scope is ‘apples to apples’.

3.  Allocate 10-20% extra for when (not if) unexpected expenses arise.

3. Define Your Goals

Clearly outline what you want to achieve with your renovation:

1.  Are you renovating for resale, rental, or personal use?

2. Determine if you’re doing a complete overhaul or just updating certain areas.

3.  Decide on the design style you want to implement, (think  modern, traditional, or eclectic)

4. Create a Timeline

A detailed timeline helps keep the project on track:

1.  Break down the renovation into stages and set deadlines for each.

2.  Account for the time needed to secure necessary permits.

3.  Factor in the availability of contractors and potential delays.

Which leads me to my last tip:

5. Find the Right Professionals!

Good contractors are certainly hard to come by, so you want to take your time with this (preaching to the choir!).

1.  Look for experienced contractors with good reviews and previous work that aligns with your vision.

2. Don’t go it alone! If your project is extensive, consider hiring an architect or designer.

3.  For specific tasks like plumbing or electrical work, hire certified specialists. In my humble opinion, do not DIY these tasks!

I hope you found these tips to be helpful, and I look forward to bringing you along our renovation journey, mistakes, wins, delays and all!

Till next time!

Brittany