There may come a time when you are thinking about getting a home improvement loan to renovate your whole house. So how much will it cost to complete this project? According to a 2022 report by HomeGuide, renovation costs can run around $15 – $60 per square foot, but can vary widely depending on the type of renovation you want, the materials you use, and geographic location. If you decide to make those renovations, you should first take these steps.
Decide how to fund the project
There’s no denying that a whole house renovation is expensive. Unless you have the money in the bank, you’ll likely need to finance your project. The good news is there are a lot of financing solutions at your disposal. You can take out a home improvement loan, use a credit card with a high credit limit, get a home equity loan or a home equity line of credit.
Consider who will complete the project
You can do-it-yourself or hire the pros. If possible, you should go the contractor route as a whole house project is a huge undertaking that requires a great deal of skill, experience, and special equipment. Another option is to complete parts of the project yourself and hire professionals for more complicated components like plumbing and electrical work.
Think about your goals
Before you move forward with your project, it’s in your best interest to determine your goals. Maybe you’d like to create a more open floor plan. Or perhaps you’d like to ensure your home allows you to safely age in place or suit your new lifestyle as a parent. Ask yourself what issues you have with your current space and how the renovations could solve them.
Look for inspiration
Unless you know exactly what you’re looking for, you might want to browse the internet and social media outlets for inspiration. By looking at what others have done, you can learn about what you like and dislike. There’s a good chance you’ll get some great ideas that will help you with the design.
Don’t forget permits
Most municipalities require permits for certain home improvement projects. Since a whole house renovation will probably have structural changes, you’ll likely need permits before you begin. Because they frequently change, you should research the current permitting regulations in your area.
Create a timeline
Even though it will prove to be worth it, renovating a whole house will disrupt your everyday life. That’s why you should look at your calendar and determine when you’d like to start your project. Then, establish milestones you hope to meet every month or few months. You can also figure out your ideal completion date. A timeline will come in handy as you order materials and work with contractors.
The Bottom Line
With a whole house renovation project, you can turn your current space into the dream home you’ve always wanted. By considering the steps we mentioned above, you can achieve a beautiful, functional environment you’re proud to call your own.
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