Most homeowners have to face the daunting process of making major financial decisions about a home improvement at some point in their life. This can be stressful and unpleasant when money is tight. There is a lot to consider once you realize the need for new windows, siding or roof. Best practice is to plan and prepare for these major home improvement expenses well ahead of time. Here are our 7 tips for affordable home improvement project planning.
7 Tips for Affordable Home Improvement Project Planning
- List top 3 home improvements. What project do you want to complete within the next five years? Prioritize. Something like a roof replacement should be on top of your priorities.
- Get estimates from local licensed contractors. Always ask for price breaks if you consider doing 2 or more projects at the time.
- Choose the contractor & finalize your budget. Getting that accurate estimate might end up in re-prioritizing your projects or reconsidering your budget limitations. Often for the better! You never know where you can save more money than expected.
- Choose a payment plan. Narrow your focus to 1 or 2 projects based on your budgets and needs. Next, evaluate current lines of financial aid that are available to you to complete each project. Is it cash? Credit card? Home equity loan or some financing programs offered by contractors? Discuss your eligibility for financing with your contractor.
- Determine savings needed to proceed. Next, divide the total by 52 weeks to determine how much you would need to save each week over one year to reach your goal. Or, break it down by months, or several years, depending on the urgency of the home remodels.
- Communicate with Your Contractor. Ask the contractor who you’d like to go with how long the estimate pricing is good for, as most contractors’ costs rise every year.
- Take your time deciding! Once you’ve taken all the proper steps towards reaching your home improvement goals, you can finally sit back and rest assure, because you’ve developed a smart, well thought out strategy towards improving your home.
If you are currently looking for a dependable and honest home improvement contractors in Delaware, get in touch with Ferris Home Improvements. We are a local family business and have a stellar reputation helping our neighbors! We’ve been voted #1 Home Improvement Contractors for years in a row! Whether you need a roof replacement, window installation or siding replacement... We are certain you’ll be impressed with our work!