Did you know that the rate of homeownership in Scottsdale is over 67%?
This is higher than the national average–and it’s no secret that Scottsdale properties are high in value.
In fact, Scottsdale has seen a boom in new construction for the past several decades.
As a result, older homes may require renovations in order to keep up with the high value of new-build luxury homes.
If you’re preparing for a Scottsdale home renovation, you probably have quite a few questions about where to start and what to anticipate.
We’re here to help you get the ball rolling with our seven important tips to consider when planning your home renovation in Scottsdale.
1. Understand the Long-Term Goals
Are you undertaking a Scottsdale home renovation with the intention of raising your property value in time for resale?
Is your goal to turn your house into the dream home you’ve always wanted and intend to stay in for years to come?
Your long-term goals should inform your renovation planning.
If you intend to list your property after renovations are complete, it’s useful to approach your planning from the perspective of the return on investment.
Renovation projects that tend to result in a consistently high ROI include things like bathroom renovations, kitchen renovations, and the addition of new rooms.
If you’re undertaking a renovation for your own use, think about what you’ve always wanted in a home.
Make a list of your biggest priorities, followed by the things you’d like to see and, finally, the things you could take or leave.
This will prove helpful when it comes time to create a realistic budget.
2. Know Your DIY Limits
We live in an age of bold DIY projects.
You’ll find all sorts of guides and testimonials online claiming that you can renovate your own home and save money at the same time.
The reality is that a bad DIY project can actually lower your property value.
It’s important to understand your own limits when choosing between hiring a professional and doing it yourself.
Some projects require complex demolition, rewiring, and replumbing, and these are things you should leave to the professionals.
3. Set a Budget for Your Home Renovation
How much do you want to invest in a home renovation?
Is your budget contingent on how much you intend to make back when selling your home?
There are three different elements you should consider when creating your budget.
The first is how much you hope to spend on your home renovation, and for many Scottsdale homeowners, this looks more like a price range than a set price.
The second is how much you can set aside for unexpected costs.
The third is how much you can spend on incidentals, such as eating out or staying in a hotel–something that may happen during the busiest parts of your renovation.
4. Consider the Scottsdale Housing Market
The Scottsdale housing market is booming.
Homes in Scottsdale were going at a median price of about $715,000 in August of 2021.
This is, in part, due to the high number of luxury homes in Scottsdale, but also to the low supply available to meet the high demand.
Renovating your home is guaranteed to impact your property value.
A luxury renovation can raise your property value by tens of thousands of dollars.
The goal is to ensure that your property value is on par with other homes of comparable size in Scottsdale.
You want to get the most out of your property value, particularly in a resale, without outpricing other homes too severely.
5. Create a Timeline
Is there an end date that you’re shooting for?
For example, you may know when you want to list your home.
Alternatively, you may want to complete your renovations in time for, say, a holiday gathering or wedding.
We recommend starting with your ideal end date and working backward.
We tend to anticipate 1-2 weeks of work for every $10,000 spent on a luxury home renovation.
We also recommend adding a few extra weeks to the end of your timeline to account for any additional work that may arise.
6. Prepare for Disruptions to Your Daily Routine
A large renovation is likely to disrupt your daily routine.
One thing that can help is establishing a “renovation-free” zone in your home.
When renovating a home, it’s important to consider both safety and convenience.
Having a “renovation-free” zone is especially important if you have pets or children.
It’s nice to give them a space to play, rest, and spend time while other areas are unsafe for their use.
Talk to your contractors about what to expect from things like utilities.
For example, will the water get shut off for a significant period of time? If so, prepare accordingly with plenty of water to drink, cook with, and flush the toilets with.
7. Work With a Trusted Contractor for Your Scottsdale Home Renovation
One of the best home renovation tips we can offer is to work with a contractor who knows Scottsdale.
4 Gen Homes has offered luxury home renovations in the Scottsdale area for over 22 years.
Due to our experience in this location, we can offer more than just top-of-the-line renovations.
We also bring to the table a strong familiarity with the Scottsdale real estate market.
We know what projects to undertake, what materials to use, and more to improve your property value in Scottsdale.
4 Gen Homes Is Here to Help
Are you preparing for a Scottsdale home renovation? 4 Gen Homes will help you every step of the way.
From discussing your budget to creating detailed plans to executing your home renovation, we’re there.
To find out more about our services, contact us today.
We can’t wait to hear about your renovation goals and we’ll get you started with a home inspection and estimate before bringing those goals to life.
Looking for the top remodeling company in Scottsdale? 4 Gen Homes has been serving and supporting valley homeowners for over 20 years with luxury remodels and custom home building projects. Contact us to set up a consultation. Call (602) 694-7030 today!