Assuming you’ve read my previous post. You know when not to start a renovation and can easily point out the risk factors. If you haven’t read it, go give it a read right now. Here we will be focusing on we can do renovation wise. While the whole lengthy process of you buying your property goes on.
your renovation in advance
Even before you even make an offer, you can consider basic renovation plans. That’s really easy to do if you want any ideas, read this one about planning your renovation it’s specialized for rental renovation but it’ll help you get started. Now that you know what you want, ask a professional renovator about how much all this will cost you.
Now you have two options to go with. As of
Asking the seller to handle some renovation works
First one is to ask the seller to do some of your renovation work as part of the deal. This one is rarely viable as brokers aren’t really interested in or are experts in doing the renovation works. But there is a good chance if the project is still in construction. So it’s worth a shot.
Following on, this way has
However, you will have less control over the whole process and the outcome. You potentially might have to wait for a few more extra months. And even after all that, the results still might not satisfy you. You run the risk of unnecessary arguments with the seller over the quality of the work done. So if you go with this option, tread carefully.
Add it to your budget
The second and better way will be to add it to your total budget and them make an educated offer. That way you have more control over your renovation, you can negotiate on your own terms with the contractor, designer, and architect. The results will be better and faster output. You might be able to do it part by part while still living in the property. Overall a more pleasant experience.
Finally, the major part is over. But that’s not all, plan at least a month more than the delivery date. As delays are way too common in this industry. Most common one is from the seller’s side leading to closing stalls. If you’re financing through a loan, it might take even longer. As the due-
Now that’s also not all of it, there are legal matters that can be a blockade. Like debts against the seller, mortgages against the property. Damage to home between contract signing and closing. Like water leaks, floor/wall damages,
If you’ve closed on a new place (congrats!) and are ready to find your general contractor, contact us on Renomate to get started! (My unapologetic hook)
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