5 Things You Should Know Before Renovating

Vanessa To The Renovation Rescue

When renovating, there are several things that you need to know before executing your design plans. The first thing you should consider is whether you have ideas that will showcase a home without losing your mind, money and valuable time. Many may ask “can I afford an interior designer?” My answer, you can’t afford to go without one. In the past, the wealthy and famous were the only ones that were able to hire the best designers. Today all you need is an educated consumer to understand the potential savings and the added value to the home when hiring a designer. In my field, I’ve seen the bad and the ugly. A few years ago a very lovely woman inquired about designing her 2,500 square foot home. She was very excited to start, and her concern was her kitchen, which by the way is my expertise. She needed to have it ready for Mother’s Day. We spoke several times, and she decided to save money by taking on the design project herself. She started with the kitchen and hired a contractor to do the work; she gave him a deposit and in between the job, he asked for more money to continue the work. To make matters worse, the contractor was unreliable and stopped answering her calls altogether. Finally, he disappeared with $30,000 of her money. The contractor left this woman grief-stricken, a wrecked kitchen and minor damages to existing plumbing. After it was all completed, she spent over $70,000 to finish the kitchen. If she would have started the design process with us, she would still have $30,000 in her pocket. There is that old cliche “Penny wise and pound foolish” and in this scenario, it truly applies.

Here are five things you should know when renovating your home:

8PicMonkey Collage

Save Money

Hiring the right designer that has a good team of electricians, plumbers, and contractors in her toolbox can save you thousands of dollars. The designer will help in eliminating the guess work with assistance in selecting the right color combinations, fabrics, floors, and paints. Trying to do this on your own can ultimately turn out to be costly, especially when your selections do not turn out the way you planned. Also, your curb appeal will be slightly higher than the neighbor that decided to piecemeal the décor or copied page 6 of a home design catalog. A designer will be able to save you money using inside trade discounts provided to the firm. These saving can be substantial if you are renovating the entire house. If you’re lucky, enough the savings can offset some of the design fees. Designers can negotiate pricing with contractors, and get you the best for less.

V-Zag Line by TileBar

VZag Top Nero Marquina by TileBar www.tilebar.com

Research
The designer will do all the research finding the perfect sofa, or table of your dream. You not only hire the designer but a design team that is working diligently to make sure that your design timeline and all goods meet your standards and needs.

VZag White Gold by TileBar

VZag White Gold by TileBar www.tilebar.com

Create Balance & Harmony

Make sure that you consult with your partner or others that live in the same house. You like pink, but your seventeen-year-old daughter hates the color pink. Sit with the parties that live in the house and share their thoughts. Make sure that everyone agrees with the floral print in the guest bathroom. Compromise while you make a list of likes and dislikes, providing insight into a balanced environment. Also, when you include family members in the decor, this can create harmonious bonding.

 

RSVP by Brizo

RSVP by Brizo www.brizo.com

Sustainability In Mind
Think Chic eco-friendly design to improve your lifestyle while making a significant contribution to the environment. Renovate by thinking green, plant trees in areas that will provide some shade and transfer energy. Think of using LED lighting in the home. Think solar panels for the energy efficient home.

V-Zag Line From TileBar

VZagTop left: Nero & Brass Top right: Antique Mirror by TileBar www.tilebar.com

Tax Benefits
Some home improvements have tax benefits. Any improvements that you make to the home by reducing the amount of taxes, you will need to pay when selling your home at a profit. The home improvements will add to the tax “basis” keeping in mind that capital improvements must last for more than one year to add to the value of the home. Home improvements can include deck, bathroom, kitchen upgrades or just changing wall-to-wall carpeting for hardwood floors; you can count the carpeting as a capital improvement. Check with the IRS Publication 523 for a list of eligible improvements.