If you've been thinking, "I want to renovate my house, but where do I start?" we get it. Renovation projects can seem daunting.
If you own a gorgeous property in the charming town of Westport, you're privileged to be the custodian of a piece of local history. However, renovating a home requires careful planning, close adherence to regulations, and a deep appreciation for preserving the property’s unique sense of character. Whether you're looking to restore a property to its former glory or make modern updates while maintaining its historic charm, this guide will help you confidently navigate the renovation process.
In this blog post, we will provide an outline of the crucial steps to consider when starting renovations on your Westport house. We'll cover everything from checking insurance requirements to asking the right questions and considering essential factors before diving into your renovation project. Following these guidelines can help ensure that renovations go as planned while creating a space that meets your needs.
Questions and considerations
As a starting point, here are some key questions to ask and considerations to keep in mind:
- Visit the building department to explore what you are allowed to do and which permits you’ll need for the project.
- Are there any architectural guidelines or restrictions I need to follow?
- What is the estimated timeline?
- What is the projected cost?
- What is the warranty or guarantee on the work performed?
- Which contractor should I use?
Of course, you'll also need a renovation plan to present to contractors, insurance companies, and possible lenders.
Find the right contractor or builder
Teaming up with a reputable contractor is paramount to your success. Your agent is the first call for contractor recommendations, as they have the industry connections to find trusted professionals with a proven history of quality work and reliability. Check the state website at CT.gov to assess for proper and current licensing.
Once you have a narrowed-down list of potential contractors, request and review their portfolios. This will provide valuable insight into their professionalism and communication skills. References are also very important; talk to their recent and past clients to gauge what you can expect. You can schedule a consultation and ask for a detailed cost estimate and project timeline at this stage. Shopping around will help you compare pricing, scope of work, and timelines.
When the renovation project begins, keep detailed documentation throughout the process. This should include the work, invoices, receipts, contracts, subcontractor information, and any warranty information. This documentation will be critical if you need to file an insurance claim or address any disputes during or after the renovation. It’s also important if you plan on selling in the near future as your capital improvements can help off-set capital gains.
Remember, having a strong working relationship with your contractor is vital for the success of your home renovation. A well executed project can significantly impact the resale value of your property when the time comes. Plus, shoddy construction often results in costly repairs later, so even if your Westport home is your forever home, you must ensure the renovations are adequately and correctly completed.
Design a budget and secure your financing
The last thing you want is to get halfway through a renovation and discover the financing has hit a hiccup. Proper planning and understanding of the financial implications will help ensure your renovation stays within budget and progresses smoothly.
Determine your goals and priorities by clearly defining the renovation project. This will help allocate your budget effectively and ensure that funding is directed toward the most important aspects of the project.
Then, set a realistic budget by assessing how much you can comfortably allocate to the project.
Research the average costs and leave room for unexpected expenses, too. Consider setting up a contingency fund to cover any unexpected costs that may arise.
When you’re ready to secure financing, it’s best to consider all the options and consult with a professional. Financing for home renovations can include a wide variety of choices, including home equity loans, refinancing, personal loans, savings, and more.
Check insurance and permit requirements
Before any work begins, you must ensure you have the right permits and insurance coverage in place through your contractor. An additional bond may be required, depending on the job at hand. To ensure compliance, call your agent to ensure you are completely covered and protected.
Review your existing insurance policy carefully. Understand the coverage limits, exclusions, and any requirements related to renovations or construction projects.
Getting a permit
Your general contract may include permits in the bid. In addition, you may also apply for a homeowner permit. Check with the Westport Building Department for a permit application and review. A permit is needed for projects that involve removing or replacing walls or exits, updating ventilation, demolishing a building, replacing a roof, building an attached garage or carport, kitchen remodels, installing windows, and other types of projects. If you’re unsure as to whether or not a permit is needed, be sure to ask before proceeding.
Once you’ve applied for a permit, the Building Department will review your renovation and construction plans to ensure they abide by the Connecticut State Building Code. They issue the necessary permits, determine whether any inspections are needed, and monitor the project as it moves forward. In addition, inspections are almost always required to finalize a permit.
Insurance
Once you've reviewed your existing coverage, notify your insurance company of your intent to renovate. Provide details about the scope of work, timeline, and estimated project cost. Then, verify contractor insurance. Request a certificate of insurance that shows general liability insurance of at least $1 million and worker's compensation coverage. This will help protect you from liability in case of accidents or property damage during the renovation.
It’s also wise to consider builder's risk insurance. Builder's risk insurance provides coverage for damage or loss to the property during the construction period. It typically covers the structure, materials, and equipment on-site. Your insurance provider can help determine whether this coverage is necessary for your project.
Remember, each renovation project is unique, and insurance requirements may vary. It's crucial to consult with your insurance provider directly to understand the specific coverage and endorsements needed for your renovation. By addressing insurance requirements proactively, you can protect yourself, your property, and your investment during the renovation process.
Do you need help determining which renovations make sense for your home? We’re here to help! That’s one of our specialties. We’d love to help you make smart and savvy decisions with your future in mind. Contact RE/MAX Heritage for all your Westport, CT, real estate needs.
*Header photo courtesy of Shutterstock
