Home improvement is a popular hobby and the television schedule is packed to the brim with shows like Fixer Upper and This Old House. But it’s one thing to watch these shows and another to actually get started on a renovation project yourself. If you’re in the planning stages, start by taking a cue from home experts: Get the non-negotiable details of your remodel down on paper before you even begin. It will help you avoid costly mistakes and overruns.
Also, focus on improvements that add value to the house, according to Real Estate Witch. Updated kitchens and bathrooms are a sure bet, as is adding square footage by turning an unused space into a bedroom or a family room. However, these types of upgrades vary by market and buyer preferences, so it’s best to discuss renovation ideas with a realtor in your area before breaking out the sledgehammer.
Then decide how you’ll finance the project. Credit cards are a good choice for smaller upgrades and projects that can be paid off within a few months. However, outstanding debt can quickly snowball and erode your credit score and your ability to take on additional borrowing later on. A home equity loan may be more appropriate for larger projects or if you have built up significant equity in your house already.
