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How to master time management for your home renovation

More often than not, the focal point of a major home renovation project is the budget, yet many forget that time is also of the essence.

The old maxim that time is money can be very true when you’re in the midst of a renovation. Here’s how you can plan for your home renovation and create a timeline to save both your money and your sanity.

Tips for renovation project management

Plan in advance

When planning for the renovation, the estimated time taken for core pre-construction activities are as follows:

ActivityEstimated timeframe
Measuring area2 weeks
Concept agreement2-3 weeks
Budget (e.g. sourcing and finalizing quotes from suppliers)2 weeks
Construction documents (e.g. submitting plans to the city)3 weeks (Note: If zoning is involved, this may take longer.)
Finalizing the design/aesthetics5 weeks

* Please note the above time estimates should be used as a guide only and will vary from project to project.

Budget and timeline go hand-in-hand

As your budget is integral to your home improvement, your project timeline should include detailed costs that encompass labor, materials and city fees.

Savvy home renovators know that major projects can end up taking much longer than anticipated, so as long as you allow for both time and budget contingencies, you won’t be forced to put the renovation on hold halfway through completion.

Create a realistic timeline

With unexpected changes likely to occur at many stages of the construction process, it’s important that you set your objectives and time estimates from the outset.

While the timeframe will largely depend on the scope of the project as well as the budget, you should set a clear timeline for your renovation work and allow additional time for contingencies to ensure that you stay on track.

Try to set a rough deadline for when you’d like the project to be completed as the ability to see the finish line will keep you motivated throughout.

Stay on track

A major part of renovation project management is ensuring that the work is completed on schedule and within the parameters of your timeline.

You can ensure that work is carried out on time by contacting the city to see what kind of red tape is required for your project — not having the paperwork lodged on time can be a real setback in terms of holding up construction.

Another way to ensure that the work is completed on time is to check the availability of materials during your initial planning stage and develop a timeline based on quoted delivery dates. You should also create a contingency plan with your tradesmen for work that can be conducted in other areas if you are left waiting for major materials or appliances to be delivered. The contingency plan should also outline the process involved if there are any delays, as well as which tradesmen will be on site and how often.

Be decisive

While changing your mind about aspects of the renovation like your choice of fittings or artwork may be inevitable, try to avoid making fundamental changes to your renovation plan, as this will not only push back the completion date, but it will also add to the final cost.

Consider a project manager

Whether you’re a homeowner or investor, one of the biggest decisions you’ll need to make is whether you’ll leverage the services of an independent project manager or DIY.

By using a project manager, you can benefit from their network of reliable and reasonably priced tradespeople that could save you both time and money. You can also ensure that they will honestly assess the quality of the work. A project manager, rather than a builder, is more likely to act in your best interests and point out if there are any structural issues that require attention.

Financing options for your next renovation

Data updated regularly
Name Product Filter Values APR Min. Credit Score Loan amount
Best Egg personal loans
5.99% to 29.99%
600
$2,000 - $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
7.86% to 35.99%
580 or 600 depending on state of residence
$1,000 - $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
LendingPoint personal loans
9.99% to 35.99%
585
$2,000 - $36,500
Get a personal loan with reasonable rates even if you have a fair credit score in the 600s.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
$1,000 - $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
PenFed Credit Union personal loans
6.49% to 17.99%
650
$600 - $35,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
SoFi personal loans
5.99% to 18.85%
680
$5,000 - $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
8.05% to 35.89%
640
$1,000 - $40,000
A peer-to-peer lender offering fair rates based on your credit score.
OneMain Financial personal loans
18% to 35.99%
Varies
$1,500 - $20,000
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Monevo personal loans
1.99% to 35.99%
None
$500 - $100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
NetCredit personal loans
34% to 155%
No minimum
$1,000 - $10,500
Check eligibility in minutes and get a personalized quote without affecting your credit score.
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Compare up to 4 providers

Name Product Purchase APR Balance transfer APR Annual fee Filter values
Blue Cash Everyday® Card from American Express
0% intro for the first 15 months (then 13.99% to 23.99% variable)
N/A
$0
This everyday cashback card offers a higher than average welcome offer for no annual fee, letting you earn $200 after you spend $1,000 in the first 3 months. Terms apply, see rates & fees
Chase Freedom Unlimited®
0% intro for the first 15 months (then 14.99% to 23.74% variable)
14.99% to 23.74% variable
$0
This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.
Citi® Diamond Preferred® Card
0% intro for the first 18 months (then 14.74% to 24.74% variable)
0% intro for the first 18 months (then 14.74% to 24.74% variable)
$0
An impressive 18 months intro APR on balance transfers and purchases, as well as no annual fee make this one of the top 0% APR cards available.
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Compare up to 4 providers

Bottom line

While it’s easy to remember to budget your money, it’s harder to remember to budget your time. If you don’t budget your time, however, you may find your money slipping away during your next renovation.
Images: Shutterstock

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