Home Improvement Remodeling your home is an excellent way to start building equity for your property. I have seen so many people take home improvement overboard. This article is designed to help you build a foundation when starting a remodel project on an investment property. As an real estate investor you have to keep price in mind but you cant just buy the cheapest thing because it cheap, being cheap doesn’t make something a good deal. Its all about finding someone that can help you get your projects done in a fast and an effective matter.
First things first, set a budget; so many times people go into these things without knowing what they want to spend and what they can spend. This should be the first decision you make because all of your following decisions will be made according to the budget for the project. This is a simple concept but knowing how much you can spend will make everything else easy because you will know if you can afford something or not.
The next thing is knowing what you can and cannot do. I mean if you don’t know how to put up walls don’t just assume that it is an easy task and that anyone can do it. What will happen is; you will get started on a construction project and after a few hours you will realize that you are in way over your head. Don’t be this person because you will waste time, materials, and money. If you think you can do it, odds are you can’t. Don’t start a construction project if you don’t have the skills to get the job done right.
With that said, you will probably need to hire a professional to take on the construction process for you. Don’t just hire the first contractor you talk to, you need to talk to at least 3 or four because there are three things you need to compare; experience, qualifications, and price. You will notice that I listed price last, don’t be so concerned with price because you might find a builder that is really cheap but what if he doesn’t have the experience or the qualifications? Many people choose a contractor because they are cheap and a lot of the time after the project is complete they realize that it doesn’t meet code or isn’t structurally sound. So in the end you really just added to your costs because you have to call back the guy that was a little bit pricier but had the experience and qualifications. Do your homework, get references on your contractors, make sure they are qualified to work on your property.
The last thing I want to mention is; think energy efficient. I have a good article on my person real estate that is totally about the importance of energy efficiency in homes and steps you can take to achieve this. The easiest ways to do this are; check your doors, windows, and garage doors. The windows being one of the biggest, go down to your local home improvement store a check out the energy efficient certified windows. Yes, this will cost you a little money but its worth it because it servers as a great selling point to your potential buyers, because they will know that they are going to save money on energy bills.
These steps are just the building blocks to starting a property remodel. After all having a good foundation is key because if you don’t, everything that is built on top of it will have problems. This article was designed to stress the importance of finding a contractor that get your projects done fast and right the first time.
Author: Benjamin DeBell
Website: http://www.bendebell.com
Added: Mon, 17 Sep 2007 16:54:47 -0500
Category: Real Estate
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