Home Renovations: Pros, Cons & What to Consider

Are you thinking about giving your home a fresh new look? Starting a home improvement project can feel exciting and sometimes even a bit intimidating. You may be adding space, upgrading a room, or making small changes that help your home feel more like you. No matter where you’re starting, it helps to know what to expect.

Here are a few things to consider before you begin.

Pros:

1. More Space, More Enjoyment: Renovating a new room or updating your yard can give your family more ways to enjoy your home. For example, home theaters are gaining popularity in El Paso County, providing an entertainment center right at home!
2. Boost Your Property Value: Improvements like a new garage door, energy-efficient windows, and a kitchen remodel can significantly increase your home’s resale value.
3. Long-term Savings: Implementing green updates, like better insulation or energy-efficient appliances, can help reduce your monthly utility bill.

Cons:

1. Surprise Costs: Even the best plans can hit a few surprises along the way. Unexpected expenses can come up during the renovation process.
2. Contractor Challenges: Delays, scheduling issues, or unclear communication can slow things down and impact your project timeline.
3. Time Investment: Some renovation projects take longer than expected, especially when life doesn’t pause for construction.

Estimating Costs Before You Begin

A well-defined budget is essential for success! Here are some key points to consider as you create yours:

• Make two lists: one for your essential items and another for items you would like to have but are unnecessary.
• Ask 2-3 licensed and bonded contractors for quotes.
• Use free online calculators for initial estimates.
• Set aside a little extra money for unexpected surprises.
• Check your city or county for permit and inspection fees.

Choosing the Right Contractor

The right contractor brings their tools along with peace of mind. Here’s what to look for:

• Good communication from the start.
• Detailed estimates with clear, realistic timelines.
• A written agreement that details payment terms and responsibilities.
• Local references and examples of recent completed projects.
• Valid licenses and insurance coverage.

Raiz can connect you with one of our trusted contractors—they’re insured, bonded, and vetted by us to help you avoid scams!

How Raiz Can Help You

A renovation is a big decision, but you don’t have to make it alone. At Raiz, we can help you cover the cost of your next home improvement project with flexible financing and simple terms, empowering you to focus on turning your dream into reality, without the stress. Let’s map out your project together.

Start your journey with Raiz today. Let’s make your dream home a reality together!