10 Ways to Renovate Smarter

Renovate our house is expenses that require much money. Some people think renovation is investment. They think it could increase the value of your house.
Kevin O Leary (Shark Tank presenter ) in his book ‘Cold Hard Truth on Men, Women & Money’ give 10 ways to renovater smarter as below :-


1) Don’t just get quote

– You can get many quotes but don’t skip the references. It’s not enough to do a cost comparison because those costs invariably go up. You need to know how close that contractor generally comes to the quote and the only way to know that is by getting the numbers of the last few clients.
Read reviews of potential contractors and companies you’re thinking of hiring on sites that review contractors and other home improvement services. This is the purest form of word of mouth available.

2) Do some, not all, of it yourself

– Leave the plumbing and electrical to the pros, even if you have the skills, because doing it yourself could lead to insurance problems down the line. But why not paint the walls yourself. You can cut about 20 percent off your budget by doing the messy, fussy part of the renovation yourself.

3) Do your own shopping

– A lot of contractors charge by the hour and a lot of those hours are spent standing in line at the shop. Get a list on a daily or weekly basis from your contractor for materials you don’t need a contractor’s discount to purchase. Spend your evenings picking up those small items or whatever fits in your car.
Many contractor ‘markup’ the price buying the items.

| Why House is not an asset |

4) Apply for the proper permits

– Avoid doing renovation without permits from local government. It is important in the future especially when the event of a fire or a mishap might block your insurance claim if there’s no approval from local government.

5) Pick your rooms

– Put a priority to renovate. The only certainties are an updated kitchen and a sparkling bathroom. The other bigh draw is a family room on the main floor and a bathroom off the master bedroom. Anything else on your wish list should wait or be axed. This is how people get into financial trouble- by over renovating and commiting to projects that don’t add value to the home, but add only debt.

Okay, that’s 5 of 10 main point on the article from Kevin O’Leary book. If you want to know other’s 5 point, just buy the book at this link http://amzn.to/1JV52CO

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