Financing a Remodeling Project Lithonia 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.

Norris Edmonson
Beacon Financial Advisers, Inc.

(678) 750-1700
1429 Business Center Drive
Conyers, GA
Helga Cuthbert
Cuthbert Financial Guidance

(404) 633-6420
836 Sycamore Street
Decatur, GA
Houston Smith
Smith and Raab CPA Financial Planners, PC

(404) 377-9500
2302 Parklake Drive, Suite 100
Atlanta, GA
Melissa Hallmark
Sanders Financial Management, Inc.

770-448-5111
3455 Peachtree Road NE
Atlanta, GA
Warren Wick
Lesesne Capital Management

(404) 231-3414
3630 Peachtree Road NE, Suite 940
Atlanta, GA
Sandra Porter
Sandy Porter, LLC

(404) 377-4577
10 Candler Grove Drive
Decatur, GA
Robert Hockett
Cambridge Southern Financial Advisors

(770) 506-7377
505 Corporate Center Drive, Suite 105
Stockbridge, GA
Brian O'Neill
Cahaba Wealth Management, Inc.

(404) 549-7678
999 Peachtree Street NE, Suite 790
Atlanta, GA
Micah Porter
Minerva Planning Group, Inc.

(877) 881-5379
1170 Peachtree St NE, Suite 1200
Atlanta, GA
Eleanor Burton
Sanders Financial Management, Inc.

770-448-5111
3455 Peachtree Road NE
Atlanta, 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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