Choosing to renovate your home can be both exciting and nerve-wracking all at once. But before you hit the ground running it's likely that you'll ask yourself 'when is the right time to renovate'? Essentially there are three major factors to consider when making your decision. Keep reading to find out more...
Factor 1: Affordability
You might have spent months pouring over your Pinterest renovation inspiration boards, but in all honesty there is no point in dreaming big if you don't have the money. So put simply you should only renovate when you can afford it.
We know, it is easy to get carried away with ideas - "what if we just extended this room a little further" or "what if we added a set of folding doors here?" - but you've just got to remember to stick to your budget.
However, if you're seeking to make some improvements for the purpose of increasing the sale value of the property it might be worth taking out a loan. Caution: only endeavour to do this if you are absolutely certain you will make the money back.
Factor 2: Seasonality
If you're wishing to save money renovating over the Christmas period might be the answer to your prayers. Typically December and early January are the slowest times for contractors so if they're looking to pick up some last minute work they may drop their prices, allowing you to bag a better deal.
So remember peak times bring peak prices, so always try to opt for quieter time periods.
Factor 3: Timing
Only renovate when you have time to. No matter how competent your contractor is you're always going to be needed for various tasks e.g. co-ordinating access to the property, selecting paint colours or even running around to pick up fixtures and materials. Overall renovating can be a huge time sponge.
Of course, you don't have to do everything at once. You might opt to split the project up into more manageable chunks, and complete a bit every few months.
Overall when you weigh up the inconvenience of having to live in a partially renovated home or move out altogether against the brilliance of a newly renovated house you'll find that the latter will triumph every single time. So take the time to decide when you should renovate and then go for it!