The Top 3 Reasons to Renovate One Room at a Time - So you've decided you want to totally renovate your home, and are ready to dive in head-first, huh? But instead of remodeling the entire home at once, have you considered making the changes one room at a time? While this will take longer, there are many benefits to pacing yourself. Here are our top 3 reasons why you should the remodeling process room-by-room:
1. You don't have to spend a giant chunk of money all at once
Let's say you've taken the time to sit down with the builder who is going oversee the remodeling project, and gotten a price estimate from each sub-contractor. For argument's sake, let's say the combined total of all of your wanted repairs and renovations is $60,000. Do you have that kind of cash saved up? Chances are the answer is no, meaning you'll have to take out a second mortgage on your home or another type of loan to fund the project (and deal with all of the red tape that comes with doing that!). But what if you make $5,000 of renovations at a time? That's far more feasible from a financial standpoint, and if you budget correctly, you may be able to pay for the renovations over a two-or-three time period without ever having to borrow a dime. And, having the money as opposed to borrowing the money means you won't have to any interest for the renovations. So, you’ll actually wind up saving yourself some money!
2. It's way less messy
If you are having renovations made to several rooms at once, you'll probably have to rent a storage unit to house your possessions that normally go in those rooms until the construction is complete. Plus, if you're renovating your son's room and the guest room at the same time, where will he sleep? Likewise, if you have a three bathroom home, but both the master bath and the hallway bath are being remodeled at the same time, everyone in the house will have to share one restroom. How long do you think that will last until everyone loses their minds? But if you take it room-by-room, you can simply move your possessions from that room into another until the remodeling is complete. You'll save money since you won't need the storage unit, and Little Johnny or Susie won't have to sleep on the couch or in your bed while the contractors work in their room.
3. You can deal with the unexpected
Price estimates are exactly that – estimates! Whenever you build a new home, experts say to always budget an extra 10% because something ends up delaying the process or costing more than the estimated price. The same goes for remodeling! Let's use our $60,000 example again. Your repairs and renovations were estimated to cost $60,000, so you took out a loan for that amount of money. But, oh no, the total bill ended up being $70,000! What are you going to do now? Had you chosen to do the renovations one room at a time, you could have covered the unexpected costs as they arose. Then, you could have prioritized the remaining changes to make sure that the most important ones got completed before you ran out of money. See why it’s so important NOT to turn your entire home into a construction zone?!
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