If earning profit from your investment is your goal, renovation should be one of the main factors which you should consider. Here are some things you should know before you start your renovation project.
When should I renovate my home? This is a common question asked around in the real estate industry. The most common answer? During the summer season. This is because there would little to no delays caused by rain or bad weather. You can also have a quality project as this would give the workers a better and safer working environment.
If you are able to finish your renovation project during the summertime, you can avoid unnecessary costs often associated with delay and unsatisfactory workmanship.
Does that mean you should always schedule your renovation during the summertime?
This isn’t always the case. Because of the pristine weather conditions during this time of the year, most contractors may have already booked another project during your desired time. This would make things more complicated as your chosen contractor may be forced to rush through the project—which might compromise the quality. This may also lead to your project experiencing delays because of the number of people who are having renovations completed.
Fortunately for you, the Philippines experiences sunny weather for most of the year, so any needed renovations won’t be limited to just the summer season. Just keep in mind the type of your required renovations. For example, roof installations would be better done before the summer season as the heat may be an inconvenience to both the workers and occupants. By doing this, you can prepare your roof before the rainy season arrives. If your renovation concerns a bathroom remodeling, you can schedule it at any other time of the year.
The importance of financing
Unless you are renovating a major commercial building or are a wealthy investor looking to improve your property, you will most probably be unable to finish all necessary renovations at once. However, this should not discourage you from improving your property as you can carry out your project incrementally.
It is all a matter of prioritizing your projects and identifying which among them are of the utmost urgency. For example, fortifying your home’s foundation or expanding rooms to accommodate a new member in the family can be considered more important and should be prioritized over buying a fancy couch or upgrading to a bigger screen television.
By identifying which aspects of your property need to be addressed first and understanding what each renovation entails, you will be able to prioritize your projects according to your finances.