Accurately work out your budget
Aim to accurately estimate what your renovation costs will be, and be realistic in what you can and cannot afford. It is better if you overestimate the costs to factor in possible hidden costs, delays, or unexpected problems. Whatever you do, do not underestimate. If you intend to take out a loan or remortgage to cover the cost of the development, discuss with your bank or lending company how much they are prepared to lend to you, as well as the repayment options. Only take on loan which has a monthly repayment option that you can comfortably afford to pay back each month.
Determine what you want to achieve
Work out exactly what you hope to achieve with the renovation. Is it just an improvement, such as a kitchen overhaul, or an extension to your home? Do not focus only on the aesthetics and take into consideration the utilization of the space or extension you intend to have built. Take time to really focus on the usability of the space, as well as it looking visually attractive. Consider what value it will add to your home. In fact, make sure that it will add value, rather than take it away.
Find a great team
Much of the success of your renovation boils down to how good your renovating team is. Make sure that you do your research well. Check up on reviews and feedback for any design and construction company that you are considering, and check up on their accreditations and certifications. Before you sign anything, make sure to ask the company for an estimate the cost of your redevelopment, as well as the time they estimate it will take to complete the work. You can choose to work with a building contractor and separate design company, or one company that will provide you with a complete package. A complete package will normally include the services of a home design/architect that can draw up your home design, as well as a surveyor, an excavator, and contract builders, such as townhouse builders, to carry out the work. As an aside, these companies will also likely be experienced in new house development, and can contract a new house builder, if that is a service you require down the line.
One final important factor to remember before redeveloping your property is whether or not you will need planning permission to carry out the work. Make sure that you check with your local authority if you will need to apply for permission. Failure to conform to building and construction stipulations could land you in financial hot water. However, a good design team will normally carry out these checks on your behalf. So choose well.