Contemplating whole house remodel
I've lurked here for years and now I am finally at the place where I:
1.) Own a home
2.) Am ready to remodel it.
I really kicked up my research in the past few weeks and we've been talking about what kind of changes must be made in our 1975 2625sqft ranch style house:
1. New Roof within the next 8 years
2. Replace A/C units within the next 2 years
3. Replace old galvanized plumbing
4. New water heater in the next 5 years
5. Make 1 of 3 bathrooms wheelchair accessible
6. Renovate original 1975 bathroom
and what kind of changes we'd like to see:
7. New kitchen
8. All new flooring
9. Renovate all bathrooms
- New light fixtures.
- Update fireplace.
Our original plan was to use a 203k refinance loan (we've done a streamlined 203K before on another house) to pay for the changes and do it all at once but it appears that the value has gone up enough for us to use a heloc to make the changes, if we go slowly enough.
Specifically, we are thinking that if we get 50K or so in a heloc, we can keep 25K set aside (untouched) for emergencies. We can make a few changes at a time over the course of 10 years or so to finally get the house we can want, paying as we go.
So I guess as I'm writing this I have a few questions for y'all experts.
1. Would you do it all at once or do it slowly over 10 years?
2. I am feeling completely overwhelmed and like I need the help of a designer. What we might like to do is hire a designer to make plans for the entire project, especially if we piece meal it. Then the designer would do each step of the way with us? A project every two years or so? Do you think we could even find a designer to work like that?
Any direction or guidance you could give we be greatly appreciated.