It's January and that means it is PROJECT TIME!
I've already had several new inquiries for projects in the new year. This is always a good time to consider remodeling or scheduling some of the home updates you've been putting off.
So, here it is. The one question I ask every potential client before we get too far into the first conversation.
How long are you planning to live in the house?
I find this is one of the most important factors in determining a budget, a style, and therefore, overall scope.
Of course, lots of unexpected things can happen to disrupt your plans, BUT it helps to consider this one question carefully.
BECAUSE:
If you plan on being there less than 5 years, then you are basically remodeling to sell.
If you think it will be 5 years or more, then you are basically remodeling to stay.
My husband kind of argued with me on this, he thought it should be 3 years, but really, from my experience and seeing how people approach a remodel project in this area, it is more like up to 5 years.
When I chat with people in a first meeting and ask that question, the statement that usually follows the under-5-year-answer is this:
"We want to make sure we can get the money we put into the house, back out of it when we sell." - Almost Every Homeowner ;-)
Sound familiar?
If you are planning to stay under 5 years:
In this case, if you know you might be moving on in under 5 years, you might consider more neutral colors and a more generic yet still upgraded approach to the style. You might want to go with more popular choices of finishes that would appeal to many.
You might not splurge on a desired element quite so much, you might have a tendency to reel it in, considering if you will get that money back out the house when it is time to sell.
With this direction, you might not spend as much as the homeowner planning to stay longer. Every expenditure will be weighed for how others might see the value that you are putting into the home.
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IF YOU ARE PLANNING to STAY 5 YEARS OR LONGER:
Planning to stay longer? You might find yourself putting more personal preferences into the home, designing it more just the way you want. You might splurge on some of your real heart's desires even if they aren't that commonly done.
One splurge in my kitchen remodel, my Scotsman nugget ice machine!
You might go with more personalized color schemes, finishes and fixture selections. You won't be worrying as much about the value of the neighborhood homes, because it is more likely that rising property values will catch up to what you are spending. You would get to enjoy your work and dollars that you are putting into your home, longer.
You would focus more on creating the home of your dreams.
With this direction, you are likely to spend more and invest in long-lasting, valuable, less trendy materials and design.
Click HERE to see my kitchen remodel and see where I splurged. We figured we were staying at least 5 more years.
The approaches to these two options are quite different and it helps to determine this up front, first and foremost. This answer impacts budget allocation, scope of work, material selection, everything. :-)
Are you looking for some more guidance and help with your upcoming projects this year?
You might try perusing these links below for my handy guides, written just for homeowners just like you.
Click on the images for more info.
Need some a little personalized help with a project you have going on? You might find my Designed in a Click Q&A perfect your needs.