This project consisted of the additions of a bedroom (with en suite bathroom), and a laundry room. The project began by raising the garage floor to the same level as the existing main floor. This allowed for the relocation of electrical and plumbing conduits without affecting the main floor. The foyer was matched with hardwood floors in the interior of the new room. Other work included framing, drywall, windows, plumbing fixtures and a vanity. The end result was a gorgeous new space for a busy Miami couple.
FAQ
Is it more cost-effective to hire a subcontractor or a general contractor?
The cost of hiring a general contractor can be higher than that of a subcontractor. General contractors have many employees so often charge their clients a high amount for labor costs. Subcontractors, on the contrary, hire one employee and charge less per hour.
How important do you need to be preapproved for a mortgage loan?
Getting pre-approved for a mortgage is very important because it gives you an idea of how much money you need to borrow. It also helps you determine whether or not you qualify for a particular loan program.
What should I think about when buying a house?
Make sure you have enough cash saved to pay closing costs before buying a new house. You may want to refinance your mortgage if there isn't enough cash.
Do I require permits to renovate a house?
Yes. Before you start any home improvements project, permits are necessary. You will require a building permit as well as a plumbing permit in most cases. You may also need a zoning permit depending on the type of construction you are undertaking.
Statistics
- It is advisable, however, to have a contingency of 10–20 per cent to allow for the unexpected expenses that can arise when renovating older homes. (realhomes.com)
- ‘The potential added value of a loft conversion, which could create an extra bedroom and ensuite, could be as much as 20 per cent and 15 per cent for a garage conversion.' (realhomes.com)
- A final payment of, say, 5% to 10% will be due when the space is livable and usable (your contract probably will say "substantial completion"). (kiplinger.com)
- On jumbo loans of more than $636,150, you'll be able to borrow up to 80% of the home's completed value. (kiplinger.com)
- According to the National Association of the Remodeling Industry's 2019 remodeling impact report , realtors estimate that homeowners can recover 59% of the cost of a complete kitchen renovation if they sell their home. (bhg.com)
External Links
How To
5 Things You MUST Know Before Starting Your Home Renovation
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Are you sure that this is something you want to do? It's likely that you will need assistance if you plan to tackle a large home improvement project, such as remodeling your kitchen or bathroom or building a new home. If you aren't confident enough to take on such a daunting task, you may want to reconsider. It could take up a lot of your time and money, and you won't get any real benefits from it. Instead, hire someone who has experience in this field to assist you. They will help you save time and stress and still give you a beautiful home to live in.
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How much should I spend? This may seem obvious but it could make things worse if you spend too much on your renovation project. Because you will likely end up paying most of the costs back at the conclusion of the day. Keep your budget in mind. A lack of a budget could mean that you end up spending a fortune and getting nothing in return.
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Do I choose to hire professionals or DIY? - There's no right and wrong answer. We recommend hiring professional tradespeople, however, if you're able to afford them. They'll give you the best advice possible on how to proceed with your particular project. They can install the plumbing correctly and make sure that it is done safely. On the flip side, DIY projects usually involve lots of trial and error, which means you'll have to learn a lot of lessons the hard way. You'll also have to deal with any problems that may arise throughout the process.
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What are my options? - Don't underestimate the cost of a renovation project. Even if you believe you can handle it yourself, it might be necessary to borrow money from your family or friends just to cover the costs. When you want to sell your existing property quickly after the renovations are complete, you will need to account for the price of selling it.
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How do I begin? There's no right or incorrect place when it comes down to where to start. But we suggest you choose something that you enjoy working on. This will help you stay motivated and make it less likely that you procrastinate. Also, try to avoid places that require a lot of maintenance. You should avoid redecorating your living room if it is always covered in dirt and dust.