When you own your own home, it makes sense to invest in renovations occasionally. After all, the space is entirely yours, so you can adjust it to your preferences. Of course, that doesn’t mean going ahead with every idea that pops into your mind – that could leave you spending even more money than you’d originally planned. Avoid these five mistakes to ensure your home renovations don’t leave you out of pocket.
1: Focusing on Aesthetics Only
You might have the perfect idea of what your home could look like in your head. However, focusing on just aesthetics isn’t beneficial – you want a good, solid structure before that incredible wallpaper or wide, open window can do its job correctly. So, before you start, highlight any cause for concern areas. Sorting things like water damage, structural weakness, and roofing is more important than creating a visual haven, and you can always do that afterward!
2: Picking the First Contractor
At some stage of the home renovation project, you will need to hire a contractor. Some people are tempted to choose the first contractor they come across, but this is a rookie mistake. After all, you’re putting your home in their hands, so you want to ensure they know what they are doing! It’s always best to consider at least three contractors before making your decision, looking into things like customer reviews and past work. Remember that spending more money on a good contractor can save you time (and stress) in the long run.
3: Not Getting a House Valuation
Whether or not you plan on selling the home after renovations, getting a house valuation is a good idea. That’s because you can prepare better with house valuations. Not only do they give you the current market value of your home, but they also break it all down, showing you the analysis of sales data, condition, size, upgrades, and more. It will allow you to avoid surprise costs and budget effectively. Yes, the house valuation will cost money upfront, but it can actually save you money down the road. Plus, an up-to-date valuation can even help you get better financing for the renovation project (if you need it).
4: Taking on the Big Jobs Yourself
You might be good at DIY, but specific home renovation jobs are best left to the professionals. Things like plumbing, electrical repairs, and anything involving structural work should absolutely be completed by people who know what they’re doing. You won’t save money taking on these jobs by yourself; on the contrary, you’ll likely need more costly repairs. Plus, it can be dangerous.
5: Leaving All of the Project to Professionals
On the other hand, you can do some home renovation jobs yourself, helping you save money. If you’re good at DIY, you can get stuck in by building shelves, adding tiles to the floor, painting rooms, and treating hardwood flooring. Doing so may take longer, but you will save money as you won’t have to pay for more professionals!
