05
May
By First Rate Financial Group
Mortgage

How To Save Big Money On Your Next Home Renovation Project

Every year, homeowners spend billions of dollars renovating their homes. It almost seems expected that homeowners are going to end up going over budget on any project. On the other hand, this doesn’t have to be the case. In reality, there are a few tips and tricks that homeowners can follow to help them save big money on that next home renovation project.

Serve As The General Contractor

Many homeowners hire a general contractor to control the staffing of each individual project. While this might reduce stress levels, it also costs more money. Hiring a general contractor adds an additional middle man to the project who might charge a premium for each individual project.

Homeowners that need to renovate the kitchen, replace the roof, and find a new water heater should hire professionals to handle these individual projects; however, they don’t necessarily need to hire a general contractor. Skipping this step can save money.

Seek Out Multiple Bids On Each Project

Some homeowners don’t like making phone calls and filling out paperwork to collect bids for various projects; however, collecting multiple bids can help homeowners save money. On any given home renovation project, try to collect at least three bids. For larger projects, it is better to collect even more. 

Then, once all the bids are collected, they can be leveraged against each other for a lower price. Homeowners are often surprised by the wide range of bids on a project. Some proposals might even be thousands of dollars apart.

Take Advantage Of Sales

Just as food goes on sale at the grocery store, the materials needed to complete a home renovation project might go on sale from time to time as well. Taking advantage of sales at department stores can be a great way to reduce overhead costs. There might even be cheaper options online. 

Reduce Home Renovation Costs

These are a few of the most important tips for reducing the cost of that next big home renovation project. Home renovation projects don’t have to break the bank! Be sure to collect multiple bids and leverage inventory sales. 

14
Apr
By First Rate Financial Group
Real Estate

Home Improvements For A New Home Or When Getting Ready To Sell

Home Improvements For A New Home Or When Getting Ready To SellWith time on our hands, many of us are busying ourselves with home improvement projects. Some simple changes can increase the attractiveness of a home and may help with a sale. If you are getting ready to sell your home or if you just want to beautify it a little, here are some low-cost tips for home improvements to consider.

Go Green

Adding indoor plants is nice and improves interior air quality. If you have the room for it, consider a vertical garden. A vertical garden may use the entire ceiling-to-floor area of one wall. With the proper type of grow lights, it is possible to create the feeling of a lush tropical forest inside the home.

You can grow a herb garden in a window box, so you always have fresh herbs for cooking. Flowers, which make a lovely fragrance, are wonderful for aromatherapy to create positive feelings. Hang a sprig of fresh eucalyptus in the shower for a spa-like experience.

Water Elements

A water fountain or birdbath in the garden is a pleasant touch. Use a solar-powered water pump so there is no need to connect it to electricity. It will attract birds that are enjoyable to watch.

A small fountain in the home will have a soothing effect from the sound of the falling water. The Chinese art of Feng Shui recommends having some water elements in the home for a more peaceful living space. It can be something as simple as a desk or tabletop water fountain to have a nice effect.

Wall Decor

To spice up a room and give it a fresh look, consider changing the wall decor. Give the wall a fresh coat of paint or new wallpaper and hang new things on it in an attractive way.

Throw Rugs

Colorful throw rugs are helpful to cover a worn area of old carpet. Rugs improve the look of a room without the expense of replacing the carpet. In a larger room, a throw rug may create a space for a certain use, such as a sitting or dining area.

Add Some Color to the Front Door

One quick and easy technique to give a dreary home exterior a bit of curb appeal is to power wash the siding on the front and then paint the front door a dramatic contrasting color. A superbly-colorful front door is very attractive and welcoming.

Summary

With a little imagination and a modest budget, it is possible to make attractive home improvements that have appeal. Just try some of our suggestions and make improvements that you enjoy.

27
Mar
By First Rate Financial Group
Real Estate

When It Makes Sense To DIY

When It Makes Sense To DIYMany homeowners enjoy DIY, or Do-it-Yourself, home improvement projects. There’s nothing quite like the pride of knowing you used your own hands to put together or improve something.

With the explosion of social media sites such as YouTube, Pinterest,and TikTok, spending a weekend on DIY projects seems easier than ever before. After just a couple of minutes spent searching, you can find a step-by-step tutorial, before and after photos, or a time-lapse video of any project imaginable. Anyone can do this! Right?

Not so fast. In some cases, it may not make sense to DIY. How do you decide whether it will be worth the elbow grease or if you should leave it to the professionals?

To DIY Or Not To DIY

Building, fixing, painting, or any other -ing isn’t always easier or more affordable, despite what HGTV would have you believe. As you consider whether or not to take a project on yourself, here are some things to consider. 

  • Cost – Calculate the cost of materials you’ll need for your project, factoring in tools and equipment. If the job requires some you don’t already own, you’ll have to rent or buy them, which can be quite costly. However, if you already have some of the necessary materials or you can borrow tools from someone, going the DIY route may make sense. 
  • Time – As Greek philosopher Theophrastus said, “Time is the most valuable thing a man can spend.” Even if a DIY project offers substantial cost savings, it’s important to factor in the time you’ll have to spend on it. Consider whether saving money is a worthwhile trade-off for your time.
  • Skill level – No matter how many tutorials you study, some things are better left to truly skilled professionals. If you don’t have any experience working in electrical, you shouldn’t attempt to do a project that requires running wires. Knowing your limitations and when to hire someone can save you time, money, and stress.

Potentially saving money is certainly not the only thing to consider when it comes to DIY projects. Before deciding to take it on, ask yourself if you’ll truly enjoy the project and whether or not you have the necessary skills. 

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional.