Meeting your own needs should always be the main consideration when you’re planning a remodel. In some cases, these needs are obvious. For instance, if you have three kids and one bathroom even the addition of a half bath or powder room would significantly improve your lifestyle. But it’s not uncommon that wish lists far exceed finances.

When this is the case, the key is to prioritize. What’s the most important when you’re prioritizing? A lot of folks have weighed in. We find this list by the Cleveland Plain Dealer to be pretty accurate.

  • Handle any item that could affect your family’s safety. For example, make sure your home has working smoke alarms. Be sure to childproof your home if you have little ones in the house.
  • Repair any problem that interrupts the use of your home or threatens to cause permanent damage. If water is dripping from the ceiling, repair the roof. Otherwise, the water will ruin your ceiling, damage the floor, and ultimately undermine your home’s structure. If your pipes freeze, take the necessary steps to thaw them out.
  • Take care of potential long-term health hazards. If you’re concerned about the safety of your drinking water, the quality of your air or the presence of asbestos or lead in your home, take steps to alleviate the problems.
  • Handle maintenance that will protect your house from long-term damage. Jobs in this category include painting the house, installing a new roof, and making your basement drier.
  • Make upgrades that will ultimately save you money. Projects that reduce energy and water consumption fall into this category.
  • Make relatively easy, low-cost improvements that offer significant results. You can stretch your improvement dollars with high-impact efforts, such as painting, wallpapering and changing fixtures.
  • Polish off repairs that have a big nuisance factor — faulty doorknobs, squeaky floors, dripping faucets and the like.
  • Take care of cosmetic repairs. Fix holes in the wall, replace outdated light fixtures, and repair moldings.

As you consider a remodel and prioritize your needs, it’s a good time to speak with your Loan Officer about what financial options are available to you.