With Colorado’s real estate trend predicted to continue its status as a seller’s market through 2021, homeowners will continue to rely on home renovation to increase the value of their houses instead of “buying up” at this time. With an increasing demand for inventory, if you want to sell your house, Colorado Biz suggests that you put it on the market sooner than later, in case interest rates begin to rise.
If it’s time for you to nail down a contractor and get serious about turning your existing home into your dream home, our first advice is “hurry up!” Many good contractors and designers are booking up months ahead.
Home Renovation Tips
At Colorado Farm Bureau Insurance, we know that home renovations can test the full gamut of your energy and emotions, taking you from stressful to bliss and then somewhere in between—and finally, hopefully—relief and excitement.
We’re ready to help, and we share below some tips to make your experience more rewarding.
- If you will be borrowing money for your renovation, make sure you understand every step of the loan process, starting with knowing the best loan options for your project. Be honest about what you can afford and stick with your plan once the work starts.
- Depending on the scope of your project, you may or may not need to involve an architect. If your plans call for major structural changes, start looking.
- When choosing a contractor, ask trustworthy friends and family for recommendations. Take time to check out some of their previous work on their websites before your first meeting. Jot down any questions you have.
- When you meet with a potential contractor for the first time, make sure it’s a good fit. Is he or she easy to talk to, and ready to listen? Is this contractor knowledgeable and experienced for your project’s requirements? Be very clear about what you want, and what your budget is.
- The more detailed you can be at the beginning – and especially before construction starts, the more likely you will stay within your budget and that the work will progress within the expected deadline.
- Make sure this person is insured and bonded, and be aware that, in Colorado, contractors are not licensed at the state level. Check with appropriate county and city officials about his or her professional standing in the community.
- When and in what form will you receive an estimate?
- If you can, move out while construction is at full tilt. It will put everyone more at ease.
Colorado Home Design & Renovation Resources
Ready to find help or assemble your dream team? The Colorado Resource Guide 2021 Home Builder Edition, published by Colorado Builders Magazine, has an exhaustive list of trade professionals across the state in every area of home building. It has everything—from appraisals to skylights and beyond:
- Bath and Kitchen
- Builder Services
- Building Products
- Doors & Windows
- Smart Home Tech
- Outdoor Living
Insure Your Renovation Investment
Your home is one of your biggest investments, so properly protect it with a high quality, affordable homeowner’s insurance policy from Colorado Farm Bureau Insurance. Contact a local agent near you using our Agent Finder.