The Smart Way to Reno or Decorate
THE SMART WAY TO RENO OR DECORATE
So you’ve just bought your new space and you’re wondering what to do with it. You’ve allocated a budget and are thinking of buying new furniture, or perhaps remodeling your kitchen and bathroom. What’s the best way to go about it? One approach would be to go to a store that you’ve seen advertised in the papers to purchase furniture, flooring or tile - thinking perhaps that you can upgrade to better furniture or materials on once your cash flow situation is better or once you liquidate some of your investments.
CREATE A BUDGET
These days, it’s not uncommon to spend between 10% – 15% of your home’s value to renovate your kitchen and bathroom, install new flooring and repaint your walls. Count on spending another 5% – 10% for new furniture, art and accessories. On a $ 500,000 home this translates to a $ 50k – $ 125k budget. Your actual expenses will depend on the quality of furniture and materials that you choose.
RENOVATIONS THAT ARE DONE PROPERLY ALWAYS PAY FOR THEMSELVES
Recovering your expenditure for renovations and furniture – as long as these are carried out properly – is a fairly easy proposition these days since homes in the Lower Mainland have steadily risen in value over time and any design improvement can boost the price of your property even more. Despite what critics may say about the constant rain, Vancouver ’s always been a sought-after place to live and people fall in love with the climate, the geograpy and the pace of life.
YOUR DECISIONS ON COLOR, FINISHES AND FURNITURE ULTIMATELY IMPACT YOUR RESALE
Just remember that your home is your biggest and most valuable asset. Once you’ve decided to put it up for sale and showcase it to prospective buyers, their response – and the size of their offer – will be greatly impacted by how well (or how poorly) you present your space inside and out
If this is the process you use to choose your furniture, it’ll most certainly be hit or miss, and you’ll be paying for your own mistakes. In addiition, buyers might not be impressed once they walk thru your door with your ‘eclectic’ style or your efforts to do-it-yourself (DIY).
INSTEAD OF PAYING FOR MISTAKES, PAY FOR EXPERT ADVICE INSTEAD
Consider getting professional advice before you buy a single piece of furniture, apply that first coat of paint or choose between granite or quartz countertops. Try not to wait until your house has been sitting on the market, unsold for several months. It’s money that’s going to be well spent if you do it right the first time.
Your first crucial investment is not in picking the right couch or even the perfect colors for your wall – it’s getting proper advice. Once you decide to hire a professional, he or she can assist in creating a master plan that includes color options, fabric choices, flooring and cabinet samples. He can also present drawings (or images) that feature various furniture styles and layouts. He can also give you a preliminary budget and an estimated date for completion. Once you have all this info, you’re ready to create a space that suits your taste and your lifestyle, and which will be easy to sell once you decide to.
DO IT SOONER RATHER THAN LATER
Remember you’re designing your house to appeal to two people: 1) you, the principal owner of the residence and 2) the person buying it from you once you decide to put your home on the market.
If you’re going to renovate to improve your chances of selling your house quickly and for a good price you might as well enjoy the benefits of having a well-designed home for a few years instead of doing it a few months before you put a “for sale” sign on your lawn.
IT’S NOT ABOUT THE MONEY. IT’S ABOUT FINDING THE RIGHT PEOPLE TO WORK ON THE PROJECT.
The biggest challenge in this busy market is getting honest and competent tradespeople who are available immediately. Generally, March to November are the busiest months so avoid getting your renos done during this time of year, if possible.
To get top notch work, you’ll be paying top dollar. If you’ve chosen your subcontractors based on who charges the least, then be prepared to get what you pay for.
Ordering custom sofas can take anywhere from 8 to 24 weeks. The delivery and installation of a custom kitchen can take 3 to 4 months. If you’re getting a city hall permit, be prepared to see your schedule pushed back by at 2 to 3 months (sometimes longer). With these timelines involved be prepared to have a project that lasts anywhere from 3 months (which is fairly quick) to 8 months (which is not unusual), so a little patience goes a long way.
If there’s a delay, your designer and the store he (or she) bought the item from – and you – are all in the same boat – so try not to play the blame game when things go awry. Murphy loves to rear his ugly head every now and then and cause a few minor headaches.
ALLOW FOR SOME DELAYS & BUDGET OVERRUNS
DO IT RIGHT THE FIRST TIME
So let’s say that you see a piece of furniture – say a couch – that you like and that you think matches something else in your home so you buy it and take this home.
The first challenge that might occur is size. The couch may not fit thru your front door if you haven’t made proper measurements. Once this is in your living room, the next thing you’ll have to contend with is scale – is the couch going to be too big or too small? After a few minutes, you may realize that the fabric color may not go well with your area rug, curtains or the wing chair sitting next to it.
After a couple of days, it might occur to you that it might have been a good idea to buy leather or some easy-to-clean fabric, since you like to serve wine and guests might accidentally spill their drinks. After a week or two, you might come to the conclusion that a darker color might have been better, to hide the spills and stains. Before you know it, you’ve listed that very same sofa on Ebay or Craigslist.
For more details, please visit www.flowformdesign.com
