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Is Buying a Remodeled Home a Smart Move

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While watching shows like Property Brothers, Flip or Flop, Fixer to Fabulous, Fix My Flip and Fixer Upper may paint a rosy picture of buying a remodeled home, the reality often differs significantly. While these shows depict smooth transformations and stunning results, real-life experiences with remodeled homes can be far more complex and challenging.

Many flipped houses come with hidden issues. Contractors sometimes prioritize speed over quality, resulting in careless workmanship. Despite the initial aesthetic appeal, problems may emerge months down the line.

While purchasing a flipped property can be enticing, thorough research is paramount. Here are some red flags to watch out for during your evaluation:

Unpermitted Work:

In full disclosure states like Texas, sellers must disclose all known information about the property, including upgrades and renovations. Even in non-disclosure states, requesting a list of renovations is advisable. It’s crucial to check whether the renovations were permitted, as most significant remodeling projects require permits. Unpermitted upgrades could indicate non-compliance with building codes, posing safety risks and complicating financing and insurance processes.

Reputation of the Flipper:

Before committing to a rehabbed home, investigate the entity responsible for the renovations. Determine whether they have a reputation for delivering high-quality work. Reputable flippers prioritize customer satisfaction and aim to maintain their standing in the industry. Conversely, lesser-known contractors may prioritize short-term gains over long-term customer satisfaction, potentially leaving behind shoddy workmanship and dissatisfied buyers.

Failed Inspection:

While a remodeled home may boast gleaming surfaces and modern amenities, its history might reveal a neglected past. Many remodeled homes suffer from prior neglect and significant disrepair, with contractors opting to conceal rather than address underlying issues. Hiring a competent home inspector is essential to uncover hidden problems and ensure the property’s structural integrity and safety.

Consulting with a trusted mortgage professional can streamline the financing process, enabling you to secure pre-approval and make informed decisions when selecting the right property.

While purchasing a remodeled home can be an attractive proposition, exercising due diligence and skepticism is crucial. By carefully evaluating potential red flags and seeking professional guidance, you can mitigate risks and make informed decisions in your homebuying journey.

How To Avoid Delays When Remodeling

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How To Avoid Delays When RemodelingIf you have a remodeling project coming up, you have probably been told to plan for delays. Even though it can be frustrating to hear that your project is going to be delayed, with some simple planning, you can prevent this from derailing all of your efforts. What are a few of the most important tips you should follow if you want to avoid delays during your remodeling project?

Choose The Right Contracting Team To Help You

One of the most common reasons why remodeling projects get delayed is that people do not choose the right team to help them. There are a lot of contractors available, but you should always start by taking a look at reviews and ratings of the contracting service before you ask them to sign a contract. Take a look at the Better Business Bureau to see if there are any issues. Then, reach out to the contractor to see if they have handled projects like yours in the past. If they have worked on similar projects, you may have found the right team to help you.

Order Everything Early

Once you have found the right contracting service, ask them to order everything early. A common reason why projects are delayed is that materials are not there when they are needed. If you build in some leeway by ordering the materials early, you can prevent a delay from arising.

Get Everything Written Down

There is a saying that if you don’t document it, then it never happened. If you feel like you have a verbal agreement with the contracting service, ask them for a written agreement. You should always trust what the contractor says, but verify it by asking them to write it down. That way, you can avoid disputes down the road, and you can hold the contracting service accountable.

Make Sure The Project Finishes On Time

These are a few of the most important tips you should follow if you want your remodeling project to proceed on time. It can be frustrating when something goes wrong, but with proper planning, you can minimize the chances of dealing with a delay during your project. That way, you can enjoy the fruits of your labor just a bit sooner. 

Key Points To Note When Drafting A Contract For A Remodeling Contract

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Key Points To Note When Drafting A Contract For A Remodeling ContractThere are a lot of homeowners who are thinking about carrying out a home remodel during the current era; however, it is important to understand what goes into a home remodel contract. Even though it can be expensive to get the contract reviewed by an attorney, it is critical to take a close look at the contract to make sure the language is correct.

What are some of the most important points that homeowners should keep in mind when it comes to a contract for a home remodel?

Understand The Basics Of A Home Remodel Contract

First, it is important to understand the basics. The home remodel contract will have a lot of numbers and it can be challenging to understand. In general, the home remodel contract must state that the contractor is going to secure any and all necessary permits and approvals, the payment schedule, when the project will start, and when the project will end. Any home remodel contract should also contact the license number of the contractor and include a few days to rescind the contract without penalty should the homeowner change his or her mind.

Review The Payment Schedule

In addition to understanding the start and end dates, read the payment schedule carefully. The first payment should never be any more than 10 percent of the total cost of the job while the final payment should be approximately a third of the total cost of the project to ensure the contractor actually comes back to fix any issues should something go wrong with the project. The final details of a home remodel are important.

Don’t Jump On The Warranty

Finally, do not jump on the warranty even if it sounds great. A warranty for a home remodel is usually packed with a punch of exclusions that are instituted in favor of the contractor and not the homeowner. There are probably state statutes in place that provide much better protection than any warranty that is offered by a contractor. Furthermore, accepting the warranty will remove this protection from the state. Unless a lawyer says to take the warranty, it is better to turn this down and go with state regulations.

How To Find The Right Color Combination For Your Home

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How To Find The Right Color Combination For Your HomeThere are lots of decisions that people have to make when it comes to the decorating scheme of their home. One of the key decisions that homeowners face involves the color scheme. Some people are afraid to talk about their color schemes for fear of making the wrong decision; however, the only way to make the right decision when it comes to the colors in the home is to discuss the situation. Have no fear because there are a few steps that all homeowners can take to make sure they nail their home’s color scheme.

Think About The Mood

The first step is to think about the mood of the home. Colors are used to reflect some sort of emotion and they are going to set the mood of the room. What type of mood should the space evoke? It might be helpful to think about the stories that could unfold in the room. For example, pinks and brighter colors are used to reflect both youth and vitality. Darker colors are used to create an earthy, warm vibe. Color should be a part of the design process from the first step.

Ease Into The Process

Next, it is a smart idea to ease into the process. Instead of trying to look at dozens of color tones at the same time, pick a few very different colors. Then, gradually narrow down the selection by looking at colors that are similar to the first one. By gradually moving to bolder colors, homeowners will have an easier time going through the process.

Consider The Saturation Of The Color

Finally, when looking at the possible variations, think about the brightness of the color as well, which is often referred to as the saturation. There are multiple hues in a single color and some hues might overwhelm the furniture or the carpets while others will work well in a synergistic manner. Think about the role the color is going to play in the room and how it might work well with different types of furniture.

Find The Right Color Scheme

These are a few of the most important points regarding home colors. With these tips, it is possible to enjoy the process of finding the right color scheme for the home.

14 Remodeling Projects That Increase the Value of Your Home

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14 Remodeling Projects That Increase the Value of Your HomeYour home is likely your largest investment. Beyond repairs and regular maintenance to keep it clean, comfortable, and safe, there are a number of projects that can increase the resale value of your property. These renovations top the list of changes you can make that positively impact your home’s value.

Kitchen

With the right strategy, your kitchen remodel could return up to 92.9% of your construction investment. The trick is to not overdo it. You don’t need to gut and rebuild the entire room. Instead, make strategic upgrades that increase the comfort and usability of the room.

  • Paint wooden cabinets or install new doors and fixtures.
  • Install track lighting or LED features.
  • Refresh or change countertops.
  • Refurbish flooring and spruce up walls with warm, neutral colors that are easy to clean.

Invest in new appliances right before you put your home on the market to catch the eye of potential buyers and pull them in.

Odd Spaces

Older homes with distinctive architecture stand out from the crowd of cookie-cutter residences. However, these unique buildings often hide a lot of unused space. Make the most of every inch of your home to entice buyers to place a bid.

  • Convert a basement into a bonus room.
  • Turn the space underneath a staircase into a storage closet.
  • Divide oversized dining rooms to create a small home office.

Most buyers aren’t looking for a long-term project. Instead of pointing out the potential of your property, make it easy to see by getting creative with odd spaces.

Increase Energy Efficiency

The average monthly utility bill can easily cost a homeowner $200 per month. Help potential buyers lower their monthly costs by installing energy-efficient options throughout the home.

  • Install a solar water heater.
  • Change the windows to more energy-efficient models.
  • Add extra insulation to outer rooms and around doors and windows.
  • Use LED lighting outdoors and throughout the home.

You may be able to get some help paying for your earth-friendly upgrades with state and federal incentives.

Bathrooms

After the kitchen, bathrooms are the most scrutinized feature of homes for sale. Once again, a little goes a long way in these rooms.

  • Update fixtures with shiny metals for a modern look.
  • Change out the toilet seat.
  • Fix up the shower tiles and head.

These projects don’t take a lot of time. However, they can offer a big payoff when you decide to sell your home.

If you are looking for a new home or interested in refinancing your current property, contact your trusted home mortgage professional to discuss current financing options.