Prepare your budget for the renovation money monster

SAVE UP FOR HOME RENOVATIONS   Things always get in the way whenever you’re planning to do renovations especially when you’re doing all the work yourself. Time is the biggest factor quickly followed by money.   If you are planning on selling your home you know it’s very important to do your research to find out what renovations really are money well invested rather than wasted. If you put more money into your renovations than you really need to than you may not recoup the cash when it comes time to put that for sale sign on your front lawn. Talking to your real estate agent is a great start if this is the route you plan to take.   Real Estate agent   I have plenty of renovations in our house to get done even if we were planning to sell which we talk to our agent about yearly when we meet with her so we know if we are still on track with renovation ambitions. At the end of last year and the beginning of this year I told you that for this coming 12 months the plan around the house was to update the bathrooms. The upstairs […]

Reader question: When should you renovate your new home?

Renovate Your Home When It Is Right For You A fan sent me an email the other day and asked me the question, When should you renovate your new home? He said that him and his wife had just bought a home and they weren’t sure if they should renovate before they moved in or after they moved and wanted to know what we did when we bought our house. Home renovation checklist It was a question that I really didn’t have to think much about because we are in this position now. We did not renovate before we moved in and preferred to save the cash first before renovating. When we bought our home I created a checklist so I knew exactly what I needed to do although over the years it seems the list keeps growing. It was easier to read my list as I was going along rather than trying to remember in my head. Every smart planner will have a list so they have information to fall back on. There is no custom list here, you design your own. Grab a piece of paper and start making notes. I also wanted to have the opportunity to […]

Best Home Renovations-Money Wasted or Money Invested?

Buying a new home also means looking for the best new home renovations or upgrades that fit your lifestyle. When selling a home different renovations can either mean money in your pocket or potentially money out the window. After I’ve shown clients the first few homes in their new home search, we often discuss my “Real Estate Baseball” rule of thumb. What do I mean by this? Three strikes and you are OUT! As soon as potential buyers can tally up three perceived “defects” in your home, they aren’t interested any more (it should be noted that this is by no means scientific). You can’t make a first impression on potential buyers again, so, you need to make a great one at the beginning! I often talk with clients about renovations and Do It Yourself (DIY) projects so they can make the right informed decisions. Sometimes renovations can add to a home sale, but other times they just become another stressful event associated with selling your home and wont generate the return that you are looking for. Here is a list of potential renovations that I often discuss and recommend with clients. 1) Painting When my clients walk into a freshly painted home, […]

How We Renovated Our First House For Under $25,000

We renovated our first house for under $25,000 can you believe that? Purchasing your first house is an exciting yet stressful time for anyone. Trying to decide between ‘turn-key’ or a ‘fix-er-up-er’ is often a decision people face. There are advantages to both, but for us, we knew we wanted something we could make into a home with a little good ‘ol fashion blood, sweat and tears. This was always going to be our first home. We bought knowing we would probably be here 5-10 years until we built up enough equity to afford our forever home. Finding a home we could put some sweat equity into, but not get so deep into renovations we were knocking down walls and moving bathrooms, proved to be more difficult than I thought it would be. We were looking for a nice house that needed a little TLC.  We eventually found a house and managed to snag it up for a steal of a price. The sellers were motivated to sell due to a job taking them out-of-town. Saving as much money as possible on the purchase was important because we had a long list of things we wanted to renovate all within a […]

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