Getting Cost Efficient Home Projects Off the Ground
For many homeowners who undertake DIY and other small improvement projects, the first steps include making detailed plans, finding financial resources, getting HOA (homeowners association) approval, and obtaining local permits for the work. But, moving from the planning stage to actual work is still the major hurdle in nearly every situation. What kinds of things are property owners choosing to do to improve their living spaces?
Garage conversions and ground-based solar arrays are gaining large numbers of fans as more people choose to remain in their current home, add storage space, and reduce utility bills. Additionally, kitchen and bath upgrades are perennial favorites among DIY enthusiasts who like a fun challenge but aren’t afraid of hard work. Finally, the private rental trend among homeowners is behind the widespread popularity of converting spare bedrooms into mini apartments. Review the following facts before diving into a project. Begin by making a financing plan.
Plan & Pay First
Even smaller home improvement projects cost money. Depending on which ones are on your to-do list, it’s easy to incur serious expenses along the way. Plus, many homeowners enjoy doing two DIY jobs at the same time, which can mean even higher total costs. Paying for the work is the most significant hurdle because, without funds, plans never become a reality.
If you have one or more DIY projects on the drawing board, make detailed cost estimates and utilize a personal loan by applying to cover the proposed price tag. To get favorable interest rates and terms, be sure to visit a one-stop website that lets users compare all the leading providers’ terms, rates, fees, and other features. Borrowing money is serious business, so try to gather as much information as possible on prospective lenders, including their financial stability, customer reviews, and company histories. Precise project cost estimates and lender information are the two core components of every successful project.
Get HOA & Zoning Approvals
Depending on where you live, it’s important to check with HOAs about all types of projects, even small ones. Something as simple as replacing a garage door can run with strict homeowner association rules in many cases. Better to be safe than sorry, so check first. The same rule applies to jobs that need city or municipal approval for code and zoning regulations. Contact the relevant department or individual via email or phone and find out whether your proposed task needs any special clearance, permit, or license.
Non-Roof Solar Arrays
Solar energy enthusiasts who don’t like the idea of spending a fortune on an array can purchase one or two small on-ground panels to get started with their energy projects. Ground arrays are gaining adherents among those who want to test the waters of alternative energy systems and see how much they can save on monthly utility bills. Shop around for high-quality products and avoid re-sellers.
Garage Conversions
Garage conversions are simple, fun jobs for homeowners who don’t need the space for parking. The keys to a successful garage to storage space project include adding a temperature control system. It’s often possible to expand the home’s original system to a garage to keep the job simple. Consider adding a food freezer to save on groceries. All-around shelving makes sense for homeowners who want to keep items off the ground, open the space for recreational activities, and get the most out of the square footage.
Bedroom Privatization for Rental
One of the most popular projects for homeowners who want to boost income is room privatization. The work can present a challenge for those who own larger houses, but it’s still a practical and potentially profitable concept. Many private citizens have jumped into the bed and breakfast business with an eye on turning an extra bedroom into rentable space. It’s important to adhere to company guidelines if you choose to sign up with one of the major online agencies, like Airbnb.
To get started, analyze the space, and determine what’s needed to convert it into a private apartment, complete with its own entry, bath, and food preparation nook. Some owners are okay with adding a small refrigerator, coffee maker, exterior door, day bed, TV, and basic furniture. Others go all out and add luxurious touches and amenities to encourage long-term rentals for more than one occupant. Check your preferred agency’s requirements, equip the space, and post a listing on the platform.
