Home renovations can be a huge task for anyone. Before taking on such a big project, it is important to do your research and understand all of the factors involved in successful home renovations. From determining a budget to managing material costs and labor, knowing what goes into home renovations is essential to creating the outcome you desire. 

Here’s everything you need to know about renovating your home.

Popular Renovations

You have many options when it comes to which type of renovation project you want to tackle. Family Handyman notes that some of the most popular choices include bathroom remodeling, and adding new floors or carpeting. A kitchen remodel is another top choice, particularly when an owner is getting their home ready to sell. Keep in mind that there are pros and cons of this sort of undertaking, and you’ll need to budget, plan a timeline, and avoid common kitchen renovation mistakes like investing in expensive countertops while leaving old cabinets in place.

Of course, there are many other types of renovations that homeowners may choose from, depending on their specific needs and budget. A home office/guest room renovation is a great option for homeowners looking to add extra living space. This renovation can free up valuable square footage while providing an area that’s both functional and aesthetically pleasing. The key to success is to plan carefully and take the time to make sure each room serves its purpose. With thoughtful planning, you can create an environment that welcomes visitors or lets you work in comfort with plenty of storage and style.

You Need a Home Improvement Timeline

One thing that many people forget when undertaking a major renovation project is setting expectations for timeline completion dates and creating a budget upfront before construction begins. Working with reputable contractors will ensure that timelines are met, but setting expectations ahead of time will also prevent costly delays down the line due to miscommunication or the lack thereof.

Funding Your Renovation

If you don’t have enough cash on hand for your renovation project, applying for a home improvement loan might be the right option for you. Home improvement loans usually come with lower interest rates than personal loans and credit cards and can be used for any type of renovation project — from replacing old windows or countertops to installing an HVAC system or energy-efficient appliances. Be sure to shop around for the best terms before making decisions about financing your renovation project.

Get the Help You Need

The Better Business Bureau points out that it’s important to do research before hiring contractors for your renovation project. Make sure that they have plenty of experience in the type of work you need done, and ask for references from past clients who were satisfied with their workmanship. Hiring reputable contractors will ensure that your project goes smoothly without any major headaches down the line, like shoddy workmanship or delays in completion times.

Tools of the Trade

These days, there is plenty of software available designed specifically for contractors undertaking major renovation projects such as yours. This software allows contractors to not only save time by automating much of the estimating process but also have access to up-to-date pricing information. This way, they create more accurate estimates of materials costs. Whether it’s HVAC, general, or electrical contractor software, these apps ensure project bids are on point. Knowing what your contractors are likely to use will help you better understand the process of designing a bid.

Protect Your Investment

Once your renovation is complete, investing in a home warranty will give you peace of mind knowing that if anything goes wrong during the first year after completion, it will be covered under warranty. When shopping around for a home warranty, carefully assess annual costs versus deductibles and read the fine print so you know exactly what’s covered.

A major home renovation is a lot to take on, especially if it’s something you’ve never done before. But understanding the basics involved will demystify the process, so you know what to expect. From knowing what types of renovations are popular to working with reputable contractors, all these guarantee success in any kind of major home renovation.

Home improvement can be costly and time-consuming, but it can also be preferable to moving if you really love your neighborhood. On the other hand, your dream home might be sitting on the market right now, waiting for you to snatch it up. There are so many factors to consider when you’re thinking about whether you should fix up your current place or make a move, and the process can be stressful. Make it easier with resources and tips here, with advice for buyers and sellers alike. Then, check out all your options and weigh the pros and cons of each choice.

Thank you to Sarah and Mark Velasquez, the creators of Our Perfect Abode, for sharing this content. After years of renting, they recently bought their very first home. They’re currently hard at work turning that fixer-upper into their perfect abode and are sharing their journey and all the tips and tricks they pick up along the way on their website. 

Check Your Budget for a New Massachusetts Home

If your heart is set on a move, it’s wise to take a look at your financial situation before diving into the home search. Once you have a budget, research all your loan options to find out what you’re eligible for.

If you’re a veteran or an active military member, VA loans (available through a program established by the United States Department of Veterans Affairs (VA)) are available that come with several benefits such as no required down payment and a lower minimum credit score requirement. They also guarantee repayment of the loan to private lenders, giving you an advantage for approval should you meet VA mortgage requirements. While there’s more flexibility involved with VA loans, you’ll still want to take a look at the interest rates, APR, and term and find out how much your monthly payment will be. Before you get pre-approved, boost your credit score as much as possible by paying down debt so you can get a great rate.

Get Your Massachusetts House Appraised

Appraisals are beneficial whether you’re going to stay in your current home or sell it, especially if you decide to seek a loan to finance repairs and renovations. You can also schedule an inspection to make sure there are no major problems before you start the process of selling or improving; this could save you quite a bit of money down the road and is highly advisable. Common issues found during inspections include water damage, faulty wiring, and poor drainage. If your home is less than 20 years old, you may be able to fix smaller issues yourself and save money on a contractor, but leave electrical, plumbing, and other big repairs to the pros.

How Long Will You Stay?

After the inspection and/or appraisal, weigh the benefits of making repairs and improvements against how long you’re planning to stay in the home. If it’s the house you know you want to grow older in, making changes now can help you age-in-place safely down the road and will keep you comfortable for years to come. If you think you might sell at some point, certain changes might be better than others. For instance, a bathroom or kitchen upgrade would be a great selling tool, but a sun porch addition might only appeal to you. Do some research to find out what kind of remodels and improvements bring the most return on investment in your area.

Location is Everything

Outside of the costs associated with moving or remodeling, it’s also important to think about your location. Are you in a place you love? Will the school district be as great if you move to a new neighborhood? It can be a challenge to find the perfect home in the perfect spot, which is why so many homeowners choose to renovate and stay where they are. If you’re not attached to the area you’re in, moving is a great opportunity to find a better community – in Massachusetts, during the pandemic, for several reasons, residents sought out large custom homes outside Boston.

Making a decision between renovating and moving can be difficult, but by weighing these factors and considering all your options, you can make the right choice for the needs of you and your family. Look for resources online that will help you make informed decisions throughout the process.

It seems like everyone is talking about downsizing lately, and for good reason.

People are looking for ways to save money and focus on living a life free of clutter. They’re moving into town to be closer to entertainment, food, and shopping.

But first, it’s important to plan.

These three tips from Seth Murphy will help you downsize from a suburban home to a smaller townhouse, condo, or apartment in the city.

Who is Seth Murphy? Seth Murphy first dabbled in DIY projects because it was cost-effective, but it quickly became a passion and hobby. He hopes his blog, Papa DIY, will help you with your own projects and encourage you to take a chance at tackling a hands-on project.

1. Figure Out How Much Space You Need 

Downsizing means moving into a smaller, more affordable place that is easier to maintain. But to avoid moving into a place that’s too small, determine how much space you need. Think about the rooms you spend the most time in, and which activities you enjoy doing at home. If you love to cook, for instance, ensure your new place has a kitchen and dining area large enough to suit your needs. 

You can make up for the extra square footage in these rooms by finding a place with smaller bedrooms or fewer total rooms. On a similar note, consider your future goals to determine what size your new home should be, including whether you plan to have children or will soon face an empty nest.

Next, measure the furniture you want to keep so you can pick an appropriately sized home. If you need to accommodate a large table because you host holiday gatherings, will your new home accommodate it? The Plan Collection recommends looking for homes within a specific square footage range and then using floor plans to sketch where your furniture will go to make sure you can fit everything into the smaller place. This is helpful for people who can’t decide which furniture to keep, too, because it forces you to determine which pieces you can live without.

2. Get Organized to Confirm the Amount of Space You Need

Supposedly, goldfish grow to suit their tank. People are similar because we continually add stuff to our lives that we don’t need just to fill our homes. The prospect of downsizing all that stuff is daunting, even for the most organized people, but that’s exactly what needs to happen to fit into a smaller home. You probably have filled your suburban home to the gills, and now you have to decide what to keep and organize it so you can confirm the amount of space you need. Keep in mind that there is some stuff you should never throw out, according to House Beautiful.

One of the best ways to downsize is going through your home one room at a time and honestly surveying your stuff. What can you live without? What have you not used for at least six months? What would you not save if there were a fire? Use these tough questions to take a hard look at your stuff and decide what to keep, trash, donate or sell. 

If you start this process and find that you still have far too many belongings for a smaller home in the city, it’s time to enlist the help of a professional home organizer. You’ll be astonished by how quickly a home organizer can help you sort through your stuff, and the amount of time you’ll save is well worth the cost.

Your next step is to find qualified local movers in your area to move you into your new home. Before you start getting quotes from moving companies, you can evaluate them by reading feedback and testimonials from past customers. You can also look into which companies are currently offering discounts on moving services. 

3. Know Your “Why” and Stay Focused

Downsizing is a process that will take time. It’s easy to give up and stay in your large house outside the city. But remember why you’re wanting to make the move, including nixing a large house payment, expensive insurance, and higher taxes and utility bills.

If you don’t have the privilege of working from home, downsizing to the city will likely save you time on your commute, put you in a convenient location, give you access to nightlife and entertainment, and give you amenities you likely can’t find in the suburbs.

Downsizing will save you time and money. You just need to carefully choose a new home of the right size and get organized. Then, start enjoying the perks of living in a smaller home. 

This unique article was contributed to the Boston Real Estate Observer by Tina Martin. Tina’s job is to help others achieve their dreams, so she started Ideaspired to inspire a wider audience.

Sometimes downsizing is a no-brainer.

Maybe you’re tired of the empty nest, your budget is getting tight, or you simply have too much house and not enough time to deal with it.

Sometimes it’s a tougher choice, especially if you can’t make up your mind about what to do with the old home.

Deciding what the future holds for your current house can be complex, especially if you have lived in it for a long time. 

Your decision might be further complicated if you’re planning to move to an assisted living community.  These communities are a terrific downsize choice for seniors, offering safety, comfort, and independence, and you can have an apartment-style home. Some offer holiday parties, fitness and entertainment centers, and transportation services, and all provide help with your daily tasks as needed. 

If you’re going that direction, seeing communities first-hand is the best way to make a selection. You can always do a little window shopping in the meantime by looking online. 

While you’re exploring your moving options, heed the following advice from Stuart St James when deciding what to do with the family home:

Put Your House to Work

Some seniors like the idea of both hanging onto the house and making money from it in the form of rent. However, as The Balance Small Business points out, landlords have a variety of responsibilities, and those responsibilities go on 24/7. 

Maintenance is an ongoing burden, and you need to do things like collect the rent, advertise for tenants, keep your books, and deal with problematic tenants. On top of all that, you’re still paying for insurance coverage, property taxes, and utilities. Those costs might be fully offset (and then some!) by your rental income, though.  

Those seniors who plan to live close and like the idea of tinkering with the old abode might find some of those aspects appealing. If you’re game, there are apps that lighten your workload. Another idea is to hire a property manager to take on the rigamarole, allowing you to just take in the rent checks – just remember a property manager will take about 10 percent out of the rent you earn, plus extra for fees and maintenance. 

Seniors Put Homes Up for Sale

Probably the most obvious option is to list the house for sale. It frees you up from the burden of ongoing maintenance and financial responsibilities, and the hassles of dealing with tenants. 

You do have to prepare the house for the listing, which might include cleaning and making upgrades to get a good offer. Sometimes sellers decide to sell a home furnished, which might be ideal if you’re heading to assisted living. Similarly, if your home needs major work, selling it as-is is an option. Your real estate agent can give you practical insights into the local market and help guide your choices. 

Seniors Pass Home to Family Members

When it comes to following your heart, passing your house to family members might sound like the best solution. However, Bankrate points out this option becomes complicated quickly. It could be included in your estate after your death, but that doesn’t free you from ongoing taxes, insurance, and so forth. Giving it to someone right now, outright, will sometimes involve gift tax. 

Some people think they can sell the property for $1, but that can get you in trouble because of fair market value principals. Additionally, it’s important to understand Medicaid has a look-back period of 5 years. That means if you apply for Medicaid within 5 years of the sale, your status could be affected. Because this choice is so complex, we recommend homeowners visit with an estate planning attorney before jumping into a decision. 

The Full Financial Picture

There is a lot to consider as you piece together the right solution for your circumstances. Remember that your new home might need aging in place changes, and even if you sell your house or keep it for passive income, you’ll have ongoing living expenses wherever you decide to live. 

Budgeting for your move is another must. Make sure you get prices from several professional movers, and compare what their quotes include as you do so. Also research what previous customers have to say about their experiences so that you can make an informed decision. Go the extra mile in checking them out; an ounce of prevention is definitely worth a pound of cure when it comes to finding a mover who is reliable and trustworthy. 

Deciding what to do with your home can be tough. Sort things carefully and get professional insights when necessary. There are several financial and personal motivations to contemplate, and you need to do what’s right for your future.  

As Massachusetts home sellers contemplate whether to sell their home, invariably one of the first things that come to mind is Massachusetts Realtor commission fees. Real estate broker fees can significantly impact the bottom line for a seller and represent a material component to the amount of money a property owner walks away with after a successful sale.

Real estate agent fees and the concept of a real estate commission percentage can be nebulous. Sellers consistently have questions like:

• What’s the average real estate commission?
• Is there a standard real estate agent commission?
• What is the real estate agent fee when selling?
• Is there a typical Massachusetts real estate commission?

Each one of these questions is a good one, and frankly, natural to ask.  With real estate commission percentages where they are at in the US, it’s important to take into account their impact on a sale.

How Much Commission Does a Realtor Make in Massachusetts?

For illustration purposes, on the sale of a $409,000 home, with 6% being paid as real estate broker fees, the seller will pay $24,540 in Realtor fees – therefore,  the property owner is more accurately selling at $384,460 (after taking into consideration the typical real estate agent commission).

Our research of thousands of transactions in Massachusetts reveals the answer to the question “how much commission does a Realtor make in MA?” is between 4% and 5% of the sale price. Data show it’s rare to see a 6% listing in Massachusetts.

You can learn more about the average Massachusetts Realtor fees, how real estate brokerages establish their real estate commission rate, and gain insight into exactly who pays the Massachusetts real estate agent fees by further exploring real estate agent commissions.