For each renovation project
Now, when you’re doing a new renovation project—structural or cosmetic—for a home, apartment, condo, mobile home, and any residential real estate, here’s what what you should do in this order (we’ll get into the details for each below).
1. Explore. Identify everything that needs improved or repaired.
2. Budget. Develop a budget to complete repair (and seek approval for said budget).
3. Approve. Approve the materials and schedule the subcontractors.
4. Get the party started! Get the project going and work like hell.
5. Conduct internal review. Create a punch out list by doing an internal review of worth.
6. Do final punch out. Go through and approve the project and make final payment to all the subcontractors.
(While you can hire a contractor to do all this work for you, I recommend you be the contractor, if possible, because that alone could save you 20 percent on project costs. Therefore, the rest of the chapter assumes that you are the contractor.)
Let’s deep dive into each step. Keep reading.
The key steps to managing renovations
The following step-by-step system for managing renovations is not the only way to do it; there’s many ways to get it done! But let me share with you how I manage my renovation projects from start to finish so you at least have a frame of reference for developing your system. As always, find what works best for you.