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5 Steps to Managing Home Projects

Scott L. Miller

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Trying to manage all of the projects that we have for our homes can be one of the most overwhelming things we could do. Depending on the amount of work that the house needs, prioritizing projects conveniently can fly in the face of personal budgets, conflicting goals, and time constraints. Having a plan before starting can help keep the stress levels low, and better yet, tailoring the plan to your particular situation would be the best bet. See the following steps for guidelines for how to handle home improvement projects:

1. ) Identify how much work the home actually needs. Don't feel the need to install granite counters when you know that the roof is in bad shape. Do the appropriate amount of imporvement, and if you don't know what that is, contact a Realtor or Appraiser.

2. ) Create a budget for your improvements, and be sure to stagger the work in a way that makes sense. Don't get into the middle of too many mini-projects at once, but even though you are on a budget, don't cut corners and don't skimp on quality. This will be obvious to potential buyers when you go to sell.

3. ) Know what to get a contractor to do. Don't mess around with any plumbing or electrical problems, because even if you are able to temporarily resolve the issue, you may not have met the building code, and that could cause problems later on. If it makes you feel better, get more than one contractor to give you an estimate. Even better, get a referral for one from a trusted friend or colleague.

4. ) Don't overimprove. Understand the value range of where you live, and know what improvements will add value, and which ones will be strictly a sunk cost. Also, don't underimprove, because some buyers will expect a certain amount of quality in a particular home. Again, get the advice from a Realtor who is familiar with the market and does deals in your neighborhood on a regular basis.

5. ) Stick to the plan. Don't get into the projects and deviate from them, because you will never realize your goals. Even if it takes you a few months to accomplish, they will all be worth it in the end.


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