|
If you have a home of your own, no doubt, you are lucky. Ownership provides not only sense of security but also immense pleasure. Having a flat or an apartment is fulfillment of a long cherished dream of the fixed income group of people in Bangladesh. This is particularly important for the city dwellers.
Buying an apartment means you got the result of savings for years together. Here the feeling is exciting. This involves not only your hard earned money, but your emotions also.
When you had been a tenant, you could not decorate your place of living as your wish. Now you feel free to do what you like for interior decoration.
Many people know this art very well. Some have no idea. So you can either go to professional interior designers or you can study magazines and books to get an idea of the "look" you want. Visit home shows and display rooms to find out what products are available. In Dhaka, there are some showrooms you can visit for your idea.
Find out how much you can afford
Once you have a firm idea of the kind of renovation you would like to undertake, it is time to decide on the budget and how you are going to pay for it. Perhaps, you don't have much money in your hand. Don't worry. Discuss your borrowing needs and options with your lender. There are many financing possibilities to consider, from personal loans to line of credit facilities. Most of the private banks in the capital are offering personal loans for you. Get a clear picture of your current financial situation. Your banker friend can give you a preliminary idea of the financing options available.
Loan period and interest rate
Most renovation loans allow the borrower to choose from one to five years to repay your loan. With a longer loan period, your installments each month are smaller.
Interest is calculated on a monthly rent basis, which means that each monthly installment reduces your loan amount and as a result, reduces your interest charges. Thus, you will get to enjoy greater interest savings.
Look for a professional interior designer
As your budget is set, a professional designer can be a great help for you. For the best results, hire a professional interior designer or contractor, but make sure you are comfortable with the one you use. Check out a few and ask to see their portfolios to ascertain their strength and inclination, as well as get ideas based on your budget.
For estimates involving major structural changes, such as additions or moving walls, the interior designer/contractor may also need a set of the architectural plans that include site and floor layouts, elevations, and detail drawings.
Be honest and open about your budget. The interior designer/contractor will be able to make suggestions that will help you stay within your budget or provide alternative ideas to stretch your dollars further.
Go to the details of the contract. Don't automatically take the lowest bid, unless you are certain they have properly understood exactly what you want. Sometimes low bids turn out to be the most expensive in the end. A decision should be based on its value, not price alone.
If you accept the interior designer/contractor's offer, make sure a written contract is prepared. Even the simple jobs should be outlined in writing, to avoid all controversies. The contract is the basis of understanding between you and your renovator.
Make a good working relationship
Interior designers/contractors and homeowners agree that a good working relationship is a vital ingredient for successful renovation. Mutual trust is essential. There should be exchange of words and ideas all the times. And ask for a brief report on the progress of your job at regular intervals. Make yourself available to make decisions when and where they are needed, so that work is not held up by you. Don't hesitate to bring your concerns to the attention of the designer/contractor
Try to stick with your first choices
Once work is underway, changes should be kept to a minimum. The details of your project down to the finishing touches forms the basis of both the price and the scheduling of your job. Changes could affect both significantly.
Renovation is a team effort between you and the professionals you hire to make your vision a reality. And choosing the right interior designer/contractor is key to your satisfaction. Mind that the better the planning, the smoother the execution. Last but not least, plan how you will live during the renovation. Talk to your interior designer/contractor about the schedule of work to be done and how your daily routine might be affected. Careful planning can greatly minimize the inconvenience of living in the midst of renovation.
|