Q: We’re considering a major remodel of our dining area. The possibilities are exciting, but this is our first remodel and we’re a little stressed out about getting the details right. Any advice?

A: One thing we always hear from first-time clients is that they’re stressed out because they’ve never been through the remodeling process before. Without knowing all the necessary steps, they’re unsure where the project will lead them and what it will involve. We all fear what we don’t know and we’ve all heard the horror stories from friends and family who started a remodeling project only to realize—too late—that it was going to take far longer and cost a lot more than they thought.

So, how can we avoid becoming a character in our own horror story and sidestep these unexpected surprises? First off, it helps to think about a construction project in terms of planning rather than building. This may seem counterintuitive, but without a well-thought-out plan and strategy to achieve your vision you won’t have a clear picture of how to achieve results.

The horror stories usually start with the same misguided approach: we know most of what we want, so let’s just start and figure out the rest as we go. This may work well for some things in life, but improvisation is a terrible approach for a remodel. There are simply too many small pieces and critical details that must come together seamlessly. A good remodeler knows that jumping blindly into a construction project is highly risky and they will make sure that you start with the design.

The time and energy that goes into the design phase can be a little frustrating because when you approach a remodeler, you’re ready for the change now. But a professional knows that how you start a project will greatly impact how you finish it. They will take the time to put together all the necessary elements for you and make sure that you are happy with all of them before beginning.

This may mean multiple rounds of looking at conceptual drawings and sampling materials. But be patient. The time to experiment is during the design phase and not during construction when experimentation can be costly.

For accomplished design/build remodelers, the construction phase is the easiest part of a project. All key decisions have been made, and all parts and pieces have been selected, laid out, and accounted for. We know everything fits in its proper place and will perform as designed because we have put the whole project together already—on paper and in specifications, probably multiple times.

With effective planning, the vision is already in place. The only thing left to do is install that vision in your home. Now comes the fun part!

Gary Potter, CGR is president of Potter Construction, a member of the Master Builders Association of King and Snohomish Counties (MBAKS). If you have a home improvement, remodeling, or residential homebuilding question you’d like answered by one of MBAKS’ nearly 2,800 members, write to homework@mbaks.com.

Your home is likely your biggest investment so any renovations should be taken very seriously (courtesy Nip Tuck Remodeling)

Q: We’re stressing over a potential remodel project. Any tips to help us along the way?

A: You’ve made the decision to turn your dream home into a reality. Congratulations. Here’s what you need to know: basic dos and don’ts, with don’ts placed first because, like your remodel, we want you to end on a good note.

DON’T leave any detail unnoticed, no matter how trivial you might think it is. Experienced remodelers will tell you to put together an extensive file with inspiration images and features you envision for your renovation.

DON’T panic over things you can’t control. Dust and dirt happen during a renovation, as do unforeseen circumstances like material and permitting delays, and design changes mid-remodel. You adapt, you move on, and you might even get what you wanted without realizing you wanted it in the first place.

DON’T try to take things on yourself. Your home is likely your biggest investment, and any renovations done within that realm need to be taken accordingly. Performing surgery on yourself? Performing a home remodel? Don’t try either unless you want a ton of painful recuperation.

DO plan ahead. You might be surprised at the waiting list of many Puget Sound remodelers, some of which rival Santa’s annual Naughty or Nice list. If a home remodel is on your wish list this year or next, don’t hesitate—meet with potential remodelers and get a timeline going. They’ll happily walk you through a realistic estimate of how long each aspect of your project will take, which can include permitting and materials availability, depending on the size and scope of what you want done.

DO interview your potential contractors. Treat it like any other working relationship. You need to know you can trust and get along with the person in charge of your sizable investment and that they’ll be able to deliver what you’re asking for—realistically, of course.

DO hire a professional to get the job done right. You might think your non-licensed brother-in-law can do the job for a quarter of the price, but you’ll soon realize that you probably aren’t as handy as you think you are and that your brother-in-law is only about a quarter qualified for the job. Renovations done right will likely cost you, but it’s nothing compared to the safety and sanity you’ll risk trying to go cheap—not to mention the costs to fix things that weren’t done right the first time around.

On that note…

DO visit the Oct. 26 and 27 Remodeled Homes Tour, a free, open-house tour taking place in 15 convenient locations throughout King County. Stops include beautifully remodeled homes in Shoreline, Renton, Queen Anne, and throughout the Eastside, including Issaquah. The Remodeled Homes Tour occurs annually and is produced by professional remodeler members of the Master Builders Association of King and Snohomish Counties.

With all homes open 8 a.m.–5 p.m. Saturday and select homes available during the same period Sunday, visitors get a hands-on look at the latest and greatest in residential renovation and in-home technology. Guests can also chat with the remodel pros themselves, all of whom will be on site to talk through their work and answer questions you might have on your own upcoming project.

Remodeled Home Tour tickets are free and available at remodeltour.com/free-tickets.

Cameron Poague is a content specialist at the Master Builders Association of King and Snohomish Counties (MBAKS). If you have a home improvement, remodeling, or residential homebuilding question you’d like answered by one of MBAKS’s nearly 3,000 members, write to homework@mbaks.com.

By Denny Conner, CRD Design Build

Q: How do most people finance a remodel?

A: Owners finance home-remodeling projects in many ways, from using savings to borrowing from a 401(k) to bank loans. Here are some of the most common avenues to pay for your dream remodel.

1. Cash-out refinance

   Most banks will be willing to lend you up to 80 percent of your home's value, minus whatever you still owe on your mortgage.

   Pros: You get a lump sum and don't have to deal with complicated draws. It's a chance to lower your interest rate. The interest you pay may be tax deductible.

   Cons: You will usually have to pay closing costs—typically a few thousand dollars.

2. Home equity line of credit (HELOC)

   A HELOC allows you to keep your original mortgage. During the draw period, you will make interest-only payments. This is followed by the repayment period (typically 10 to 15 years).

   Pros: A HELOC allows you to borrow only what you need. Unlike a cash-out refi, you only owe interest on the amount you've borrowed to date. You may not have to pay closing costs.

   Cons: When your repayment period begins, the higher monthly payments may take you by surprise. Interest rates may be variable.

3. Home equity loan

   This is another type of loan that is secured against your home. Instead of a line of credit, you will be borrowing a fixed amount as a lump sum.

   Pros: You can keep your original mortgage, which may be beneficial if it has a very low interest rate. Interest payments may be tax deductible. You don't have to deal with a complicated draw schedule.

   Cons: You will begin owing interest on the entire amount from day one.

4. Remodeling construction loan

   If you are making major renovations and do not have enough equity in your home to pay for them, you may want to explore a construction loan.

   Pros: It extends your borrowing potential. The bank will appraise the house based on its future value after the remodel is complete. You can often qualify for a low fixed interest rate and most or all the interest will be tax deductible.

   Cons: Refinancing may not be desirable if you currently have a low fixed rate. Your building plans must be finalized before you can be approved. You may have to refinance into a permanent loan when construction is complete.

5. FHA 203k loan

   These loans are backed by the Federal Housing Administration. They could be a good option if you have found a home you want to purchase that needs major repairs.

   Pros: Down payments as low as 3.5 percent and relatively low interest rates are the main benefits. You can borrow up to 110 percent of the home's projected value after repairs.

   Cons: A lot of paperwork. You are required to address any health and safety issues with your home.

6. Borrow from your 401(k)

   Tapping your retirement account gets a lot of bad press, but it may be a decent option in certain circumstances.

   Pros: Your interest rate can be lower than that of a personal loan (typically around 5 percent). The approval process is quick and won't show up on your credit report.

   Cons: You are limited to $50,000 and the repayment schedule is quicker than for some other types of loans.

7. Reverse mortgage

   If you are age 62 or older and have equity in your home, you may qualify. This loan is similar to a HELOC, but you don't make payments during your lifetime.

   Pros: It is a way to access the equity in your home. No payments will be due during your lifetime.

   Cons: It will diminish the value of your estate, leaving fewer assets for your heirs. Fees may be higher than with a traditional mortgage.

There are many options available to you as a homeowner seeking to fund a remodel. It may be worth exploring several options to determine what's best for you. Start a conversation with your banker or broker at the same time you start exploring remodeling options. Knowing from the start what funds you have available to you will help make the design process smoother and allow you to avoid surprises down the road.

Denny Conner is the president of CRD Design Build and a member of the Master Builders Association of King and Snohomish Counties. HomeWork is the MBA's weekly column. If you have a home improvement, remodeling, or residential homebuilding question you'd like answered by one of the MBAKS's nearly 3,000 members, write to homework@mbaks.com.