Renovating your home does not have to be a high-risk project. Normally, there is a great amount of time, money and inconvenience involved in a rip out and rebuild project. Basic groundwork means obtaining three estimates for the desired work and qualifying references provided by contractors you are considering. Below are some guidelines to help make your renovation a success, not a horror story.

Define your objectives, list the good and bad points about the living space you want to renovate. Has anything bothered you repeatedly? Do you want a new look? What is missing that you would like to have? How do you see yourself using the space? Answers to these questions will describe the kind of kitchen, bathroom or living room you want. Your answers should result in an all-inclusive "wish list" which you can then use as a point of departure. If new information or deeper insight becomes available, do not be inflexible and unwilling to deviate from your list. You never know how new ideas can spark or inspire a better configuration for your proposed changes.

Start to prioritize, but be ready to compromise and accommodate for different tastes and wishes of other members of the household. Organize the project plans by prioritizing your "wish list". Your high priority items should be first on the list. Highlight the items that you feel are necessary, and once identified, review the list one more time. When you are comfortable with what you have, you will have made major progress towards a rational plan for your renovation project.

Assess your available resources and develop a budget for the project. Based on some of our completed projects a full kitchen remodel is likely to run between $40,000 and $90,000. A high-end kitchen with unique features can exceed these figures. Some homeowners use home equity loans or refinancing to fund home improvement costs. Home equity loans or refinancing may have some tax benefits as well, discuss with your accountant for guidance. Keep in mind a project may cost more or less than your allotted budget you should plan for cost flexibility. It is only with input from a professional contractor, which will put together an exact cost for your project.

Transforming a wish list into a functional and visual plan may need the help of a professional architect, contractor or design firm in order to reach a seamless integration of the design with the actual work needed. This will help avoid designs that could turn out to be "budget busters." Share your budget with the design company you hire. In turn, they should be able to tailor a solution that will allow most of your "wish list" items to fit within your project budget. Finding the right design firm to develop and accomplish this phase is a critical factor for a successful renovation.

How to hire a contractor; it is difficult to list all the details that go into a decision. If you are remodeling a kitchen or bath, then you need a contractor that can demonstrate experience and expertise in kitchen and bath renovation work. It is time well spent when you review the recent projects and interview previous clients of the contractors on your hire list; keep in mind that even a bad contractor has happy customers. All of these concerns may end up being meaningless if you do not get along with your contractor. It is necessary that you are comfortable with the company you hire and you should feel a genuine rapport with the people who work for them as well. It is prudent to work with a contractor that can guarantee a price for your project, and provide a completion date in writing. In the end, it is the contractor's steadfast dedication to a satisfactory completion and your capacity to 'navigate rough waters' that will define your renovation experience.

Be prepared for the challenges a major renovation can pose. Any renovation is a multi-trade, detail-intensive undertaking; it involves noise, dust and disruption to the household routine. You may tolerate it for few days; it will grow old quickly. Be prepared for the inconvenience to last longer than you think it will. Also be aware of the variations in the pace between different project phases, the demolition and "rough" stages will speed along at a deafening pace, the wall work and painting barely move along by comparison. Managing your expectations does not mean lower your standards; it is a more evenhanded way to survive the process of renovation.

Stay involved, do not be an absentee homeowner. Be there to inspect what is going on it is you who will live with the results, not the contractor. Even the most capable and reliable of contractors can benefit from your ongoing input and involvement. Being present can expedite your remodeling project. By keeping in touch with your contractor, the project will actually be a rewarding experience; not a horror story