What to Expect When Renovating Your Property (First-Time Homebuyers, Read This!)
Ashley Wainscott, CEO of Simple Sold Austin home renovation firm, broke down what to expect and how to prepare for successful renovations for us and our client's this week.
Open House Austin is big on sharing education for our first-time buyers and new homeowners on how to make successful investments. Ashley is big on educating her renovation clients too. After you soak up her wisdom below, you can see more of her team's work featured on our Instagram for awesome before and afters and even more renovation advice!
Managing Expectations - HGTV vs. Reality
“Although Home Renovation shows like HGTV are great and get lots information out into the world about the possibilities of renovations, the bad thing about it is there are a lot of components that aren’t shown or talked about... mainly in how they edit the timeline.
At Simply Sold we call the renovation timeline for our client’s “roadmap”. There is always a process and flow to renovation. Things have to happen in a sequence to get from A-Z you have to do B and C in order.
Since it looks fast and quick on TV, it is different than when you can experience it in reality as a homeowner.”"
Things to consider for your Renovation Budget
“Some homeowners know their design preferences, and some homeowners are overwhelmed by that whole aspect. Either way factor in a designer in your budget, they are a huge component to renovation or remodels.
Also, always budget for unforeseen items. Since we can’t see through the walls like Superman, we set up clients for success with a huge amount of education on the front end so the back end goes smoother. This includes doing a great job of inspecting on the front end, so small surprises like a leaky valve don’t affect a renovation when it can easily be replaced.
When you partner up with someone like a good renovation firm you will get a solid education on the entire renovation process so that you feel confident in your decisions for this renovation and your future renovations.”
Reno Budget top most expensive systems
Roof
Electrical is huge because it can be a safety issue
Mechanical (HVAC) for your cooling and heating basics and that can be costly depending on duct work and the systems in your house.
Plumbing can be costly if it is an older home. But even with newer homes, you need to evaluate plumbing issues with your design choices and how they affect plumbing and electrical.
Foundations, in general, are a huge factor and something to be aware of
Kitchens and bathrooms need to be functional and those can be large projects to bring those up to their full functionality.
What does it mean if a House has “Good bones”?
“The foundational elements are strong. Foundation, layout, and the lot.
In essence, it is what you are working with and how functional it is for your life. Some people also use this when talking about electrical and plumbing, but for me, I want to know about the functionality of the home.”
Important things to remember
“Remember that renovation is draining both emotionally and financially. It is really important to have a team that understands this and is empathetic.
At Simply Sold each of our team members is trained to deal with the emotions of the process and to educate the clients fully for that. It is hard to be emotionally drained and at the same time watch your funds being transferred into one of your largest investments.
So I think it is important to be prepared. We have expectation meetings, videos, and set our clients up for success but it is still exhausting. Self care during a remodel is crucial to keep yourself sane. Keep your mind open in case things need to change.”
Top 3 Renovation tips
Really educate yourself on the process but also on the company you are working with. You will be talking to this company all the time during this process, and it helps knowing you like and trust their work is important. Make sure you are hiring someone who can understand and provide off your vision.
Set aside the proper amount of money to achieve your vision and priorities. Weigh your priorities and understand what is important to you. Paying the right amount to really pull off this investment will save you headaches and money. An upfront savings that looks like a way to save could be a disaster.
Maintain your house over time. It is really important to update your home throughout the years so that you do not have to go through a massive renovation all at one time. Consider doing a small project once a year. You can do small things that make a world of difference.
Do you want to buy a fixer-upper home? We’d love to help you! Schedule a free consultation call with an agent on our team and we can walk you through the process.
We’ve helped many first time home buyers with fixer upper homes! We recently interviewed one of our clients who was able to build in $300K of equity into their home by only spending $60K on their renovations. Click here to see how!