13 tips for home improvement projects

by Citizens Staff

Whether you're embarking upon a large construction project, like building a home addition or simply looking to update your bathroom, it's easy to feel intimidated or overwhelmed — even before you begin. Following a few simple tips can help you manage the project with ease and feel confident as your vision becomes a reality.

Know your goals and plan ahead

As with any project, smart planning is the key to success. Here are some tips to keep in mind:

1. Do research. Before you plan your project, do your homework. Figure out what you like, understand the associated costs and know what kind of timeline to expect. Ask yourself some questions, such as:

• Is this something I am prepared to tackle?
• Can I afford it right now? What can help me fund this project?
• Will it raise the value of my home or make my life easier?

2. Find inspiration. Gather images you like from magazines, websites and catalogs. These samples will help you visualize the project and ensure alignment of that vision to all parties involved.

3. Use online tools. Connect with experts who can offer estimates to aid in your due diligence before starting the project.

4. Be flexible with your timeline. Delays inevitably happen, so it's best to anticipate extensions to the proposed schedule. Avoid planning a renovation around any other major life events or an important event you intend to host in your home.

Master the DIY home improvement projects

If you're planning to do it yourself, consider the following tips as you begin your project:

5. Create a list of all the steps involved, from start to finish. Write all the supplies you need alongside each step. Be sure to include tools, materials and the appropriate quantities. Make sure items are in stock and you have everything ready before you start the project.

6. Buy 10% more than what you need. You don't want to return the store in the middle of a job — or worse, return to find out that the materials you need are now unavailable, or that the new items you purchased don't match the original (especially batch-made items).

7. Don't leave finishing details for another time. Complete the project and enjoy the sense of accomplishment

8. Avoid shortcuts. Heed the old adage: If it sounds too good to be true, it probably is. Invest the time and money to do it right the first time.

Find an expert

When seeking a professional to work on your home improvement project, make sure you cover all your bases:

9. Utilize your network. Ask friends, family and coworkers for the names of great contractors, interior designers or other professionals they have worked with successfully. Not only will you have a reliable reference for the quality of their work, but it will also save you time.

10. Seek multiple bids. If you can't find a recommended contractor, then research and get estimates from several well-reviewed vendors. Make sure you receive their bids in writing and that the list includes the specific work to be done, the work they won't be doing (for example, demolition and removal of trash) and the time estimated to complete the job.

Pursuing multiple bids and estimates is a good way to learn about the process. With each conversation and proposal, you may gain unique insights and new perspectives that you hadn't previously considered.

Paying for your project

When it comes time to fund your project, you have many options. Below are some useful tips:

11. Check your resources. Once you know the cost of the project, you can determine if you need to borrow funds. A credit card may be ideal for small-scale projects up to $5,000. If your project costs more than $10,000 and you are considering additional projects in the future, you might benefit from a Home Equity Line of Credit (HELOC). Talk to a lending specialist who can help you weigh the pros and cons of this option.

12. Expect the unexpected. Simply stated, pad your budget. Ensure you have a contingency fund for scope creep, an unexpected problem that adds cost to your project. For example, your dream of painting the dining room starts with removing the wallpaper, but crumbling plaster walls and rotten windowsills are uncovered. You can't paint until the bones of the room are fixed, so the project timeline and budget will likely increase.

13. Account for extraneous costs. Be prepared for additional expenses like storage for your items while renovating, the cost of moving supplies or rent if you must move out during construction.

Ready to take the next step?

If you are planning a home improvement project, a HELOC can help unlock the full potential of your home. Citizens provides an easy and efficient approval process and two repayment options for maximum flexibility. Our home equity specialists provide support at every stage of the process. See what opportunities exist in your home equity.

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