Plan - Planning requires a lot of thought and can include many different aspects, such as:
· Where you will live during your renovation?
· How long will the materials you need take to arrive?
· What is the time frame that your contractor has committed to?
Depending on the size of the renovation, such as mine was, you will need to consider if you can live in the space while it is under construction – or if you will have to live elsewhere.
(I would not live here until it was renovated)
In my situation I had bought a sponsor apartment that I knew could not be lived in until it was renovated, therefore I had to time the sale of the apartment I was living in to coincide – as best I could – with the completion of the renovation of the new apartment. If I sold the one I was living in too son I would be without a place and would have to consider other living arrangements.
This also meant I had to "budget" for two mortgages and maintenance payments for a period of time. You will have to consider this when you decide on your budget earlier in the process. You may also want top consider selling first, putting your belongings in storage and staying with a family member or friend. However, that probably has another set of issues to consider.
When you know what materials you are purchasing check with the supplier to see if the materials are stock items or special order. If you are buying kitchen cabinets, for example, they may take from eight to twelve weeks for delivery.
In regards to the contractor, with all the best intentions he can also run into problems. He may lose a worker who quite or takes sick, if the project is outdoors you have to consider inclement weather, and again, you always have to consider the unknowns, such as the rotted wall we discussed in the budgeting post.
The better you plan the more prepared you will be for what may lie ahead.