Planning a Home Reno? Ask Yourself these 3 Things First!

So a few weeks ago I shared with y’all a look at our renovation plans. I shared the big picture in that post, where we want to end up in the long run. Well we’re getting into the more detailed stages of our plans now, and its so exciting! As we make decisions for each room, we’re asking ourselves 3 important questions while we plan our home reno!

Planning a home reno is not an easy task, its easy to get overwhelmed and stressed out about the whole process. There are practical things you need to decide on and figure out before you can get to the more exciting design choices. Asking yourself these 3 questions and comparing your answers will help clear up some confusion, avoid disagreements with your significant other and get you through your home renovation with ease!

First things first.

What do you WANT? Go crazy. Dream big. Write EVERYTHING that you want down, even if it seems a little silly or too big. Want a crystal chandelier? or penny tile floor? a pinterest worthy piece of DIY art? add it to the list! How do you want the room to make you feel? What is your dream style? You never know what dream want could inspire the perfect home reno plan!

What do you NEED? This is the list to be specific and practical on. While a penny tile floor might look amazing, is it practical? For us, not so much. We need pet friendly EVERYTHING. We need good lighting, cleanable furniture (that pet friendly thing again) and lighter/brighter everything. Warm and cozy flooring that is easy to install, clean and maintain.

What can you AFFORD? Now is the time to make the tough choices, to decide what items need to become a priority for your home reno. Take a good long look at your budget. Are you going to DIY some, most or all of the renovation? Are you hiring help? Is a contractor needed?

Deciding on the budget and what you can afford, is tough, but will save you some heartache and headaches when you’re in the middle of you home reno! How much do you need in your contingency/emergency fund? Are you saving up for the reno and paying it all out of pocket or in cash?  Is borrowing some or all of the finances you’ll need an option? What about a home equity loan? Be sure to check all of your options! We’ve been saving up some money to cover the initial costs, and will be exploring home equity options as we move forward with our plans!

Whether you’re remodeling your home or consolidating debt, Capital One is here to help with simply smarter tools that help you choose the right option for your situation. Just by visiting capitalone.com/home-equity, you can get a customized rate offer and estimated loan amount (with no impact to your credit score) and even begin the application process!

Whatever your home reno plans, answering these three questions will make the whole process a lot easier!

 

I was selected for this opportunity as a member of CLEVER and the content and opinions expressed here are all my own.