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What questions to ask for a bathroom remodel

how much do real estate agentsmake
5 Essential Questions to Ask Before Renovating a Bathroom
  • What Kind of Bathroom Vanity Should I Choose?
  • What is the Best Flooring Solution in a Bathroom?
  • What Type of Tile Should Be Used on the Walls?
  • Do You Need a Standalone Shower or a Bath as Well?
  • How Can I Make it Feel Bigger?

What do I need to know before I remodel my bathroom?

11 Things to Consider Before You Remodel Your Bathroom
  1. How Much Room Do You Need for a Half Bath?
  2. Design for Accessibility.
  3. Make Niches for Toiletries.
  4. The Right Height for Accessories.
  5. Amp Up the Wiring.
  6. Wake Up to a Warm Floor.
  7. Light a Vanity Right.
  8. Skip the Wallpaper.

How do I interview a contractor for a bathroom remodel?

Questions about a Contractor for a Bathroom Remodel
  1. How long have you been a bathroom professional?
  2. Were you formally trained?
  3. How did you acquire your experience?
  4. Do you belong to any professional associations?
  5. Are you licensed and registered with the state?
  6. Are you insured?
  7. Do you have any references I may contact?

What comes first in bathroom remodeling?

1. Remove Bathroom Fixtures. Assuming you're partially or totally renovating your bathroom, you'll need to start by removing drywall and any fixtures you're replacing. Gutting the bathroom yourself isn't too difficult, but make sure to follow these steps to avoid any costly mistakes during the demolition phase.

How many quotes should I get for bathroom remodel?

A recent Modernize survey showed that 63 percent of homeowners compare three to four contractor estimates ahead of a home improvement project. Evaluating multiple bathroom remodel quotes helps homeowners better understand their budget while also encouraging contractors to be competitive with their pricing.

What are the benefits of a preferred lender?

A preferred mortgage lender helps you secure the loan that best fits your individual needs. Finding the right lender can be a long and complex process, but when you pre-qualify with a preferred lender, you can rest easy knowing they are familiar with the builder, their sales staff, policies, and requirements.

Is it better to use a local lender or bank?

A local lender can offer a more personalized approach, as most loan officers at local lenders live in the community where they work. Your loan officer might have fewer clients to keep up with, too. If you have a more complicated loan, this can play in your favor, as you'll have easier access when questions pop up.

Frequently Asked Questions

How does preferred debt work?

What Is Preferred Debt? Preferred debt is a financial obligation that is considered more important than–or make take priority over–other types of debt. For example, the first–or senior–mortgage would be considered preferred debt (when comparing the first and second mortgage).

Why do builders want you to use their lender?

Many builders offer incentives, such as cash to cover closing costs or nicer home features, in exchange for you choosing their preferred lender. You'll have a higher chance of approval. It benefits builders to partner with mortgage lenders that are likely to approve buyers who have all types of credit profiles.

Should I shop around for a construction loan?

During the construction phase, borrowers make interest-only payments. These types of loans can be much more expensive than traditional mortgages, so if you decide to go in this direction, shop around, compare rates and find the best deal before you pull the trigger.

Can I ask my lender to lower my rate?

Yes, to some degree, mortgage interest rates are negotiable. Mortgage lenders have some flexibility when it comes to the rates they offer. However, in many cases getting a lower rate on your loan will come with a price, such as paying “points” to get a lower rate.

Can a lender raise your interest rate?

A variable interest rate may increase or decrease over the term of your loan. Some lenders may offer you a lower introductory rate for a set period for certain types of loans.

Should you use a local lender?

Local lenders often have access to programs that can make it easier for first-time buyers or those with less-than-perfect credit to qualify for a loan. These programs vary from state to state, so working with a local lender is the best way to find out what might be available to you.

What loan is good for building a house?

Construction-to-permanent loans

A construction-to-permanent loan converts to a permanent mortgage when building is complete. Also known as a single- or one-time close construction loan, it's a convenient option because you apply and pay closing costs only once. The interest rate is locked in at closing.

FAQ

Is it easier to get a loan to build or buy?

These are known as construction loans. For buyers purchasing an existing home, it's relatively easy to get approved for a conventional mortgage, as long as they have good credit and reliable income. However, mortgage lenders are far more hesitant to lend the money required to construct a new house.

What is the advantage of using an a lender?

A lenders are the standard mortgage lenders who work with customers that have a strong income source and credit rating. If you meet the standards, banks, mortgage lenders, and credit unions that offer A lending chances in Canada typically offer better rates.

Why use lender instead of a bank?

Accordingly, it is generally easier to get approved by a private lender than a traditional bank, as private lenders are able to customize each loan based on a set of internally set criteria, such as credit scores, loan to value ratio and debt to income levels.

Is it better to use a local lender?
Local lenders have a better understanding of the market in your area and can provide more personalized service to your specific needs. Our lenders and underwriters have been serving this community for years, and are ready to assist you in getting into your dream home.

What do I need to know before remodeling my bathroom?
11 Things to Consider Before You Remodel Your Bathroom
  • How Much Room Do You Need for a Half Bath?
  • Design for Accessibility.
  • Make Niches for Toiletries.
  • The Right Height for Accessories.
  • Amp Up the Wiring.
  • Wake Up to a Warm Floor.
  • Light a Vanity Right.
  • Skip the Wallpaper.
What is the most expensive part of a bathroom remodel?

When it comes to remodeling, the highest single cost is labor, which usually accounts for 20%–65% of the final cost. However, if you're looking at the tangible items within a bathroom, the wet area (tub, shower, and wall surrounds) is the most expensive part.

What questions to ask for a bathroom remodel

What is the hardest part of renovating a bathroom?

Challenge #1: Dodgy plumbing

It's not unreasonable to expect that the previous owners' plumbing work isn't the best, so you should prepare for a longer-than-expected bathroom remodel if some pipes are leaky or rusty.

What is a realistic budget for a bathroom remodel?

It costs an average of $10,978 to remodel a bathroom, but this project can range from $2,500 to $80,000. While bathroom remodeling is a significant investment, it's a great way to revamp your home. Your total project cost depends on various factors, including your bathroom's size and the project's scope.

Can I renovate my bathroom for $10000? On average, a total bathroom remodel costs about $10,000. With this budget, you can likely get a new shower, countertops, toilet, vanity, flooring, paint and more. However, it's important to note that these costs only apply to materials. You also have to factor in labor costs, which can add quite a bit to your budget.

How much profit should a contractor make from a bathroom remodel?

Gross profit margin (GPM) is the amount you add to an estimate to cover your overhead and profit. It is calculated as a percentage of project costs. According to Remodeling magazine, GPMs need to be 35% to 38% on average. However, some years are tougher than others, causing contractor margins to fluctuate.

How do I prepare to meet a contractor? Before you schedule an initial meeting with any contractor, you should:
  1. Gather any project ideas and information you've collected.
  2. Prepare a comprehensive list of “needs” and “wants.”
  3. Determine your desired budget and your maximum budget.
  4. Compile a list of specific questions for the contractor.
Why would it be valuable to a bank to be listed as a preferred lender?

The Preferred Lender Program (PLP)

In contrast, non-preferred lenders have to submit loan applications to the SBA for approval — and that process can take up to a month beyond the lending bank's approval process. In other words, applying for a loan from a preferred lender is a much faster process.

  • What does no lender fees mean?
    • A no-fee mortgage is when a lender charges no fees for a mortgage application, appraisal, underwriting, processing, private mortgage insurance, and other third-party closing costs. Instead, these fees may be included in a higher interest rate attached to the mortgage.

  • What would be an advantage of paying closing costs up front rather than adding them into your mortgage?
    • Rolling closing costs into a loan means that you're paying interest on those costs over the life of the loan. That means that you're paying much more for those costs than you would be if you just paid them upfront. Also, if you finance your closing costs, it can't put your total loan over what you're approved for.

  • In what order should you renovate a bathroom?
    • How to Remodel a Bathroom in 7 Steps
      1. Remove Bathroom Fixtures.
      2. Install the New Shower or Tub.
      3. Lay the New Flooring.
      4. Hang Drywall and Start Painting.
      5. Install Cabinets and Vanity.
      6. Update Lighting.
      7. Hook Up the Plumbing.
  • Why does builder want me to use their lender?
    • If you go with the preferred lender, the builder may reduce the home price, cover some closing costs or install upgrades, such as better appliances. If you don't go with the preferred lender, you may not receive any of these rewards. It's also illegal for the lender to pay a builder for referrals.

  • Why do sellers prefer local lenders?
    • Reliability. Everyone involved in the process, sellers, real estate agents, and you, the buyer, want the loan to close on time. Local lenders have a better reputation for closing loans on a timely basis.

  • What not to tell a lender?
    • 10 Things Not To Say To Your Mortgage Broker | Loan Approval
      • 1) Anything untruthful.
      • 2) What's the most I can borrow?
      • 3) I forgot to pay that bill again.
      • 4) Check out my new credit cards.
      • 5) Which credit card ISN'T maxed out?
      • 6) Changing jobs annually is my specialty.

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