If you’re a veteran looking to get started with property renovations, you may need to brush up on your basic knowledge. Fortunately, with thorough research and a few handy tips, you can make this ordinarily complex process a little more straightforward – here are some to consider.

Learning About Renovation Types

Before you get started updating your property, it’s a good idea to acquaint yourself with the various types of renovation. We’ve provided a few examples below.

• Home extensions: Extending the floor size of a property usually involves adding another or increasing the size of a room. This typically adds value to the home, gives some more versatility, and may involve additional plumbing, plastering, and electrical work.
• Attic conversions: There are few limits to what you can achieve with extra space in the loft – common conversions include bedrooms, bathrooms, libraries, cinema rooms, or even gyms. Have a look online and see if you can draw some fresh inspiration.
• Home offices: In recent years, home offices have exploded in popularity, often doubling up as guest bedrooms. With the right furniture, it’s possible to create a space that you can use for both work and hosting – start by investing in a sleeper sofa, a storage ottoman, and cabinets to store bedding.

Planning For Your Renovation

Home renovations can present a complicated project for most first-timers. It’s important you get your head around the basics of costs, timelines, and legality.

• Timeline: Building a timeline for a renovation project can be tricky when you consider all the moving parts, but without rough estimates, building work can (and often does) drag out beyond what’s necessary. Using commonly recognized averages and online templates, start writing a schedule for each step of the process – the more detailed these are, the better.
• Budget: Before you begin work, you also want to lay out your budget and estimate costs in advance so as to avoid overspending. Take into consideration personnel, materials, utility work, legal fees, and any additional services (such as painting and finishing).
• Legality: Every home renovation comes with potential legal issues, and getting ahead of these can help you to keep everything above water. Consider damage to property, zoning disputes, failure to pay, substandard work, and even disruption to your neighbors. With the right prior conversations and the help of a real estate lawyer, many of these can be avoided.

Additional Considerations

You can expect plenty of additional logistical and administrative challenges with any home renovation project. Here are a few areas for you to consider before things are underway.

• Warranties: Home warranties can be a lifesaver in case home systems or appliances break down. These typically take the form of an annual renewable contract designed to cover breakdowns to heating, cooling, electrical, and plumbing systems. They can also cover the repairs themselves.
• Software: You’ll find no shortage of digital tools and software to aid you in the home renovation process, and learning about these in advance can be hugely advantageous. If you’re having electrical work done, for example, it can be helpful to use electrical contractor software – this functions to create quick, accurate estimates and help your contractors manage the project, view timelines, or send quick invoices.

For many of our veterans, home renovations represent something of a new experience. Luckily, there is plenty of help when it comes to navigating the various steps of the journey – take your time to learn about the types (whether extensions, home offices, or something else), costs, warranties, and software. The more you know now, the less you’ll end up paying later.

Mortgages For America is a Non-Profit Mortgage Company that strives to help all Americans achieve homeownership. Learn more about our work at: www.mortgagesforamerica.org