If you can, keep it simple

Speaking from experience, and what I've since heard, a very big mistake many people make when taking on a major renovation is that they try to do too much at once. If you can, keep it simple--or as simple as possible. Because...

The simplest thing you do will, most likely:
a. Cost more than you thought
b. Take a lot longer than you thought
c. Be a lot more messy, stressful and invasive than you thought

Therefore, if you compound the situation, i.e., "Gee, since we're tearing apart the kitchen anyway, why don't we redo the dining room, ya know, move that build-in china cabinet across the room and open up the doorway, and, yeah, add a mudroom too. Oh, and while we're at it, let's add central air to the whole house" [especially the flexible ductwork kind needing every room's wall and/or closet to be ripped open], you're likely to be in for an especially bad ride that could put your finances and your sanity over the edge--or, at least, strain them substantially.

Alternatively, if you take on just one project (e.g., the kitchen) and that goes well or simply builds enough grit in you (and you have enough money left over) that you feel up for the next remodeling challenge on your agenda, then you can simply start that second project immediately after the first is finished. Discuss the idea with your contractor ahead of time and see if he's willing to work that into the overall scheme of things. Or, if the relationship with your contractor has been one of your biggest headaches in project number one, this would be an ideal time to get rid of him before project number two begins! (Remember, you won't really know what you think of him or her until you're well into your remodel and have had a couple of really bad days.) But if, after project number one, you find you need time to recoup, mentally and financially, by taking on only one project at a time and finishing that, you have the option of waiting before your next project begins.

It seems simple, and maybe even obvious, but I think few people realize what they actually are getting into when starting a major renovation (unless they've done it before) and so don't stop to specifically consider, at depth, how much they really are willing and able to take on. But if as much time is put into thinking about this as, say, choosing a doorknob sytle, the benefits will far outweigh any your doorknobs will bring you, which, of course, you can always easily change out later, if you want. But you can't change your mind to simplifying your remodel halfway through your house's being torn apart. You're stuck for the duration, which could be a long and costly one.

So, how do you know what you're getting into? To get a sense of what to expect with a major remodel, here's my formula, in case it works for you:

What you're in for = (Estimated time x 3) + (Estimated cost x 30%) + (Estimated grief, mess and hassle x 4, unless your project involves an especially nasty service provider, in which case it is x 10)

So, there you have it! Know thyself, keep your eye on the prize, and good luck!