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How to Plan a Budget for Your Southern Maryland Home Remodel
So you’ve decided you’d like to remodel your home – improve your living space and lifestyle. This can be an exciting and a daunting project. You may know what you want, but do you know how much you can afford?
Follow this 4-step plan to find the answer.
Start with getting an idea of how much your dreams will cost. Starting with a bathroom remodel or a family-room addition, it could cost from $100 to $200+ per square foot. To get a better idea of the price/square foot, talk with a design pro or a remodeling/home improvement contractor.
Next, it’s time to determine how much money you have to spend.
After talking with a designer or home improvement contractor and getting an estimate of project costs, you’ll need to decide if you have the money or can borrow the money. Paying cash makes it very easy to make the decision to remodel. However, if you need to borrow or create a second mortgage, you will need to know how much your bank is willing to lend and what the impact will be on your monthly expenses.
Loan Options could include a cash-out refinance package, a home equity loan or a home equity line of credit (HELOC). A HELOC is borrowing against your home’s value which often results in paying a lower interest rate.
House Logic Information: 6 Ways to Pay for a Remodel When You Can’t Tap Home Equity Be sure to get quotes from reputable home improvement contractors.
Before soliciting a home improvement bid, you’ll need to know exactly what you want including countertops, cabinetry, fixtures, etc. Your goal should be to provide enough information to get a more accurate bid. If you’re asking for bids from more than one contractor, showing the same specs to each contractor should result in bids that you can easily compare and feel comfortable with your decision.
How to Find a Qualified Home Improvement Contractor
Get recommendations from trustworthy friends, family-members, neighbors or people in the trades. Be sure to check the references and work of those recommended.
When Chris Turner provides estimates/bids on home remodeling projects, he often suggests ways to improve the construction, the project, and how to save money.
Contact Chris Turner for a FREE estimate for your next home improvement project.
A great deck starts with high-quality materials that reduce routine maintenance. Instead of natural wood, why not choose a premium composite decking that combines the beauty of hardwood with low-maintenance composite materials. Also think about how you can bring the inside outside with sliding doors, furniture, rugs, outdoor kitchen for grilling and serving family and guests. Consider adding a fire pit, portable furnace or heater for the winter months. Adding these types of features will make a more comfortable outdoor space … great for relaxation and entertaining.
There are many lenders who are competing with loan options and terms and are eager to offer a loan that fits your project. You will need to know how much money is needed for your home improvement project. And that’s something Chris Turner Home Improvements can provide. Our initial consultation is FREE! We’ll meet with you at the job site to discuss your project, needs and desires. When you are sure you're going to move forward with the project there might be a design fee involved. We'll advise you at our discovery meeting if there will be a fee for providing an estimate. How much you can borrow is based on your credit rating. We suggest you check your credit reports and make sure they are accurate. If there are errors in your credit report, get the information corrected. Having a good credit report can result in quick loan approval and lower interest rates.
If you’re not ready to update your kitchen with new cabinets and countertops, here’s a handy tip for for removing grease from your kitchen cabinets. Removing grease from cabinet surfaces should help freshen-up your kitchen. Avoid using harsh cleaners by: • Heating a damp sponge in the microwave for 30 to 40 seconds. • To avoid burning your hands, be sure to wear rubber gloves when using the hot sponge to remove the grease. • Spray the cabinet with a citrus based cleaner (citrus works as a grease cutter). • Wipe off any remaining residue with a paper towel. Combining citrus cleaner with a hot sponge will quickly remove the grease resulting in a squeaky clean cabinet surface. If you're ready to remodel your kitchen or bath, contact us for a free estimate. We have years of experience improving homes in Calvert County and St. Mary's County.