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Things you must know when remodeling a luxury home

Luxury room getting ready for remodeling

Doing some remodeling, particularly on a luxury home, can be costly and time-consuming. This is why if you plan on remodeling your upscale home, take the time to research and know how this upgrade will fit into your lifestyle, preferences, and interests.

We’re providing you with a list of ideas for your luxury home to get you started:

Come up with a plan

A remodeling plan helps to keep you organized and in control of the entire process even during stressful situations. You can easily track everything, including your materials, contractors, and budget.

The first step in making your plan is to walk around your home and imagine its future look. Keep note of what you want to change in each area and get creative while doing so.

Once you’ve come up with a list, get down to the details. What colors do you want if you plan to change your home’s color scheme? Should you upgrade your flooring? The more precise you are with your plans, the easier it is to do the next step.

Set your budget

Budgeting is important because it will dictate the parameters of your project. Research the market price of materials you have listed. Know when to splurge on certain materials and services for your home improvement and when to skimp. Remember that sometimes, cheap construction materials may be of low quality. The bottom line is this: Make sure you don’t spend more than what you can afford.

Ask for references

Get in touch with at least three recent clients of any professional you’re looking to hire. These people will give you an idea of how your contractor or designer operates. Their websites may also have client testimonials that are worth reading.

Hire a designer

You may have design ideas that you’d like to use for your home improvement project. To stitch together your luxury home décor and design ideas, consider hiring a professional designer. They will know if your plans are worth taking on or if they’re a bad idea. They can also make great recommendations for the budget you provide. Interior designers or architects usually charge by the hour or take around 10% of the overall job.

Hire a general contractor

Get the services of a general contractor as early as possible. Have them look at your plans in the schematic stage. Armed with their experience in the field, they can tell you if your project is within your budget or not and make recommendations to help you stick to your budget.

Create a realistic timeline

Ask for your contractor’s help in creating a list of items that need to be bought and decision-making deadlines. No one wants to be pressed for time in making an essential fixture purchase.

Schedule meetings

It’s crucial to set up check-ins with your hired professionals. This way, everyone involved in the project is on the same page regarding their schedule for the week, preparations they need to do, and timelines they have to follow.

About changes

In case you want to change your mind on certain aspects of your project while construction is already in full swing – don’t. Even if you think the change is minor, it can result in additional fees and costly delays.

Keep asking questions

It’s your money being spent, so keep asking your contractor and designer questions. You should know what and why you’re paying for something.

Pay for quality

Set aside a good portion of your money on high-touch parts of your house, such as:

  • Door hardware (e.g., knobs and latches)
  • Appliances
  • Sink faucets
  • Kitchen cabinets

These items will be enduring a lot of wear and tear over time, more than other home fixtures. This is why investing in high-quality ones that will be sturdy enough to handle daily usage is a great idea.

Prepare a contingency fund

If you find out that your remodeling project costs slightly more than what you budgeted, that’s fine. It’s a common occurrence with many projects like these. However, eating into your slush fund to stretch the budget is a no-no.

If you stick to your original account and make prudent decisions based on advice from a keen general contractor, you’ll only have to spend 5% of your contingency.

Don’t live in your home during the remodel

Find a place where you can temporarily stay while the project is ongoing. Especially if you have a family, it will be messy and stressful to live in a construction site.

At Coldwell Banker Traditions, we have global power with local expertise. Speak with our top-notch real estate agents by calling us at 757.229.9595 or sending an email to info(at)cbtraditions(dotted)com.