Prior to retiring I used to spend very little time at home. After my first attempt at retiring I spent enough time at home to realize that my decor was really boring and not optimized functionally for post-retirement life. So I decided to remodel. Here's some tips I've discovered a long the way.Setting a realistic budgetI want to transform my place into somewhere that I would want to hang out all day. OTOH I will eventually sell a few years down the room so I don't want to overimprove. I have found the best way to strike a balance is to figure out how much one can realistically expect to recover for the type of project you are doing--and then I don't go above that figure. I found a website to help me calculate the figure http://www.remodeling.hw.net/ and also have consulted with friends in the real estate business.Needless to say, you should set your budget before you start purchasing materials. My next project is remodeling my master bathroom and I almost broke that rule today--I spotted a cool, but expensive bathroom vanity that I lusted after.DIY general contractingI really don't have the desire nor ability to do most of the remodeling tasks myself. However I have learned that it is best for me to act as the general contractor. My remodeling projects have been small in scope-so small that I haven't needed to file for permits. I found out that remodeling firms have a certain minimum to make jobs profitable so all estimates I received all contained a lot of pad. It really hasn't been hard to be the general contractor. Having project management experienced helped but really anyone can do it--it's just a matter of figuring out what are the right resources, tasks and then scheduling them to happen in the proper sequence. I have found skilled workers through word of mouth. And I've consulted with home improvement stores on the rest.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra