Apartment Renovations–Steps To Take Before Getting Started

Posted on January 24, 2019

Any project that involves apartment renovations has the potential to be a costly and messy affair, and not just in the physical sense. Although they are much less complicated than full-blown construction jobs that start from the ground up, renovation work also requires a bit of thought and planning. If this is your first time to undertake such a project you might find these tips helpful for getting it off the ground.

Draw up a budget.

No serious renovation job begins without a budget plan, so this is where you should start. A good rule of thumb for apartment renovations is that the budget should not fall below 5% of the purchase price of the apartment. Be realistic when making an estimate and make sure to include everything. A poorly-planned budget is a recipe for disaster and it you may well end up spending out of the pocket for numerous “miscellaneous” expenses.

Comparison shop for contactors

Don’t be shy about letting potential contractors know that you are looking for the best possible rates without sacrificing on the quality of the work. Also let them know that you are talking to other contractors. This will help you “cut to the chase” so to speak and help you hone in on the contractors that offer the most favorable rates.

Research your options

Apartment renovations aren’t something you just dive into, and you will need to know the legalities of what you are doing before you even start. Now would be a good time to read through your lease, paying particular attention to the section dealing with renovation work. You should also consult with your insurance company representative in order to find out if you are covered in case anything goes wrong during the course of the renovation work, and if so, what the extent of that coverage is.

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