Financing a Remodeling Project Albany GA

Do you remember when you bought your last car? You probably went through a process of logical steps: Defining what you wanted, and exploring what was available in your price range. Then you went to showrooms, to get more information, and to test drive each vehicle to find the one that fit your emotional and physical needs and your budget. Preparing for a building or remodeling project is very similar.

Mr. John Haire, CFP®
229-888-6868
P.O. Box 70007
Albany, GA
Mr. Robert Wilson, CFP®
229-883-7878
2617 Gillionville Road
Albany, GA
Mr. Wesley Sadler, CFP®
229-420-9777
2531-C LaFayette Plaza Drive
Albany, GA
Ms. Rebecca Anderson, CFP®
(229)439-2348
310 Saint Clair Drive
Leesburg, GA
Bank of America - Albany Main
229.432.4119
128 S. Washington St.
Albany, GA
Mr. William Sadler, CFP®
(229)420-9777
PO Box 71347
Albany, GA
Mr. Thomas Borst, CFP®
(229)883-1135
PO BOX 1654
Albany, GA
Mr. Britt Bazemore, CFP®
(229)439-2348
208 North Westover Blvd
Albany, GA
Mr. Ronald Hudson, CFP®
(229)776-2302
201 E. Pinson Street
Sylvester, GA
Regions Bank - Albany Main
229-432-8000
333 West Broad Avenue
Albany, GA
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Financing a Remodeling Project

written by Diane Plesset

“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.”
(William Feather)

Do you remember when you bought your last car? You probably went through a process of logical steps: Defining what you wanted, and exploring what was available in your price range. Then you went to showrooms, to get more information, and to test drive each vehicle to find the one that fit your emotional and physical needs and your budget. Preparing for a building or remodeling project is very similar.

Your first step is to make a comprehensive list of everything you want, and prioritize your list, to help you talk with design professionals and contractors, so they understand your goals.

The next step is to establish a reasonable, realistic investment range. Yes, investment — not price. You’re investing in your home, and your future. A good remodeling (or building) project will give you years of personal enjoyment, and a high rate of return on your investment if and when you decide to sell your home, although you may pay one to three times as much as you did for your vehicle. Statistics verify that you will get a 45% – 85% return, depending on the size and scope of your project, and your physical location. That’s a lot more than the R.O.I. for a used car!

After you determine your target budget, test reality by talking to design professionals and contractors, to get their opinion based on their professional experience. This is similar to visiting showrooms or doing online research, to learn about what you’ll get for what you’re willing to pay for a vehicle. There are direct parallels, because the “bottom line” determines how much of your wish list you’re going to achieve. The more you pay, the more you’ll get.
When you go to a car dealer, their goal is to sell you a vehicle that day. Unless you’re ready to purchase, you’ll resist their pressure. Design professionals and contractors want to sell you their services, but you should not allow them to force you to make a quick decision. Interview them, review their proposal, check their references, and ask a lot of questions.

It’s impossible to “test drive” a new home, or a remodeled home. But there are some things that you can do help you achieve the best results:

  • Verify dimensions for aisleways and passageways, to confirm enough space has been allowed for comfort and safety, especially:
    • Door width and swing (including shower doors and appliances)
    • Traffic between countertops, around tables and islands
    • Clear space in front of appliances and plumbing fixtures to maneuver easily
    • Usable countertop area
    • Convenient storage
    • Multiple users in the same space
  • Carefully select products that fit your needs and your budget
    • Pre-shop online at manufacturers’ sites for features
    • Visit showrooms to physically see and feel the products (a client r...

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