BOULDER, CO, Mar 29, 2024—Whether you’re expecting a baby, renovating your starter home into your forever home, or just looking for extra space, putting on an addition is a big job. When constructing a new space in your home, it’s important to think through each and every aspect of the process. Below are a handful of questions Phil Boren, Broker Associate of RE/MAX of Boulder, Inc. suggests you ask yourself.
Can I finance the home improvement with my own cash or will I need a loan? “How much will the project put you back?” asks Boren. Can you really afford to do it now, or should you start saving for a year or two?
How much equity is in the property? “A fair amount will make it that much easier to get a loan for home improvements,” explains Boren.
Is it feasible to expand the current space for an addition? How will it change your home’s layout, or the exterior of your property?
What is permissible under local zoning and building laws? “Despite your deep yearning for a new sunroom or garage, you will need to know if your town or city will allow such improvements,” says Boren.
Should I make the improvement myself or hire a contractor? “Unless you’re a seasoned professional, always hire a contractor to do the majority of an add-on,” cautions Boren. Smaller things, like painting, you can tackle yourself.
For more information on home improvement, please contact RE/MAX of Boulder, Inc. at philboren@gmail.com, 303-441-5647, or RE/MAX of Boulder, Inc..
Phil Boren is a 26-year veteran real estate Broker and Realtor, specializing in consulting with buyers and sellers in Boulder, CO and along the Front Range of Northern Colorado. Held Real Estate Broker's license in Texas, California and Colorado; Managing Broker for over 200 agents and Brokers for Century 21 and RE/MAX franchises. Award-winning Realtor with experience in management, sales, marketing, relocation, appraisal, REO, BPO's, foreclosures, short sales; previously held the MAI designation from the Appraisal Institute. Experienced in both residential and commercial real estate and achieved the No. 14 individual ranking in the 5-state, Mt. States Region for RE/MAX International in 2001, based on sales volume. Received my BSBA in Finance and Real Estate from the University of Arkansas in Fayetteville, where he was a 4-year starter and 4-year football letterman for Hall-of-Fame coach, Lou Holtz.