If you already own a home in Minnesota, you’ll be happy to know that home values have increased drastically over the last 7 years. This increase can go from 56% in Minneapolis to a whopping 72% in Rochester.
What this also means is that remodeling your home might bring you a great ROI in the future. Even if you don’t plan to leave anytime soon, Minnesota has a low unemployment rate, a resilient economy, and a lot of opportunities.
Regardless of where, how, and when you’re renovating, your objectives and budgeting need to come to the forefront. The location of the property will never allow you to skip this step.
Naturally, you want to get all the permits and licenses. However, even within Minnesota, these are not the same municipality may have its own set of regulations, which is why you want to talk to your general contractor and ask them for a quote. Also, if it’s a renovation on what’s deemed as a historic building, you might have to wait longer to get a permit (if you even get it).
With all of this in mind and without further ado, here are the top 3 things you need to keep in mind when renovating a house in Minnesota.
Start in Time
When it comes to the time of the year, it all depends on the work that you’ll do. If you plan to do interior remodeling, you don’t have to worry too much about the time of the year. Now, generally speaking, if you’re doing some outdoor work, it’s better to plan for the warmer part of the year.
Then again, some are going as far as to say that even a winter construction in Minnesota can make sense. After all, the availability of the workers can speed up the work, and one might even argue that, although the weather is less favorable, there are fewer delays. Snow reduces airborne moisture, and frozen snow can be tarped. All in all, snow has less of an impact on construction than rain.
However, if you have the time on your side, you should pick spring as your starting date. First of all, it’s before all the extreme temperatures (both summer and winter). A lot of remodeling projects are about improving the energy efficiency of your home. So, it’s only smart to complete them before you turn on your heating/AC.
Also, starting in spring buys you the most time. You see, even if the seasonal forecast isn’t favorable, you’ll still complete the work before summer/fall. If you’re tight on schedule (starting in late summer or fall), chances are that a delay might keep you from finishing in time.
When choosing when to renovate, it’s important that you figure out why you’re renovating to begin with. What are your objectives? What’s your budget? What’s the deadline by which you want it all to be over?
Start With an Inspection
Previously, we’ve mentioned that you need to start with a plan and a budget. Well, it’s impossible to do either of the two until you know how much is there to be done. According to experts behind Summit Construction Group, the state of your walls, roof, and windows may sway the total budget needed by thousands of dollars.
Ideally, you will start with major elements (as we’ve already mentioned: roof, walls, windows) and then carry on with the minor (aesthetic) improvements that you wish to make. Keep in mind that this is not necessarily something that you can do on your own.
Once you know what’s there to be done, you need to start making a list of things that you can (potentially) do on your own. A DIY project here and there could potentially save a small fortune on your renovation product. Here, the three most important things to take into consideration are:
- The availability of local talent
- The cost
- Your Abilities
Overestimating/underestimating any of the three will make you draw all the wrong conclusions.
Think About Long-Term Saving
In theory, you could approach this project as a continuous effort and segment some of the tasks that have to be done over the course of several years. While some people may see this as convenient, the truth is that it’s anything but.
First of all, these works are quite stress-inducing, and having carpenters, construction workers, roofers, etc., on your property year in and year out is not something that you want. The sooner you can get it done and forget about it, the better.
Also, as we’ve mentioned, chances are that you’re doing this remodeling to make your home eco-friendlier. Well, if that’s the case, then you should look at these improvements through the prism of ROI. For instance, replacing your single-pane windows with double-glazing ones will save you about $250 per year. The sooner you start, the sooner you’ll be over with it.
There’s also a chance that you’re building a granny flat on your property to use it as a guesthouse, help out a relative, or even rent it out. This way, it’s an investment opportunity that will pay itself off in time.
In other words, sometimes it’s for the best to just get it all out of the way at once. Even if you don’t have all the money right now, getting a loan and starting with the works as soon as possible might be preferable to dragging it out. In this day and age, getting a favorable remodeling loan is not that difficult of a task.
First of all, you need to do some simple math about how much this project will cost you and how long it’s going to last. Then, you can set a starting date for the project and start making some calls.
Second, you need to inspect the place to determine which elements will need to be remodeled.
Lastly, it’s important that you ask whether postponing a renovation can hurt you more in the long run. Sometimes, a renovation can help you make more money or significantly reduce your utility bill. In this scenario, the sooner you start, the better.