Playbook: The Virtuous Cycle

  PLAYBOOK: BEST PRACTICES

Do

Prioritize Decide what's important to you, and allocate your budget accordingly. A little splurge—whether on custom-cast concrete countertops, high-end bathroom fixtures, or kitchen appliances—gives a renovation a pricey look. You can keep the budget in check by simplifying and using inexpensive materials elsewhere.

Reuse If the basic layout of the kitchen works, keep it. Redo the countertops and refinish the cabinetry back-boxes and add new doors (this approach saves mostly on labor costs). Refinishing floors, trim, and furniture also goes a surprisingly long way toward making a room look new.
Hire an architect A good architect can help to save time and money and will keep a critical eye on the design of your project, often noticing things you may not at the moment but would wish you had later. They are also invaluable as site coordinators. But it's important to find one you can communicate well with, whose vision is right for you, and whohas excellent references in residential work.

Buy off the shelf Using standard materials, sizes, and shapes will help keep costs in line. And remember, the Internet is the biggest shelf around: Web retailers such as HomeClick.com offer variety at good prices for any kind of renovation.
Grab a sledgehammer There's no reason not to take on part of the work, such as demolition and repainting, yourself. An added benefit of doing the demolition yourself before the contractor arrives is that you know any nasty surprises lurking behind the walls or under the floorboards.
Be creative with finishes Use conventional materials in unexpected places, and remember that low-end materials such as chalkboard, chemistry lab countertops, and Formica can look quite elegant if installed and detailed well. But consider the maintenance of each material —some require constant upkeep.

Don't

Make changes mid-project Define the entire scope of the project before you start. Mechanical work in particular should be well thought out before the project starts. Deciding to add, say, central heating/AC mid-project can have terrible impact on the project cost. Changes cost money, plain and simple.

Do everything at once You don't have to compromise on design if you have the time and flexibility to renovate in phases. This allows you to work within a tight budget and get the house you really want—but it does require a good deal of patience.

Go color crazy Having a consistent color palette helps pull a project together and unify the space.
Be in a rush To avoid paying overtime, make sure your construction schedule is generous. Don't get caught with a move-in date you can't meet—and end up paying additional rental, storage, or moving costs. Also, have your contractor submit a schedule and adjust it as the project evolves.

Data: Bank of America

High Style on a Modest Budget: Tip Sheet


By Jessie Scanlon
Renovating your house is a great way to increase its value. And while you could easily spend hundreds of thousands for an Elle Decor-worthy kitchen, with marble countertops, a Sub-Zero and all the whistles, renovations don't have to cost an arm and a leg. Caitlin Travers, Beth O'Neill, and Matthew Peckham, architects at the New York firm Rogers Marvel Architects, offered these tips for how to renovate your house—without breaking the bank.


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