Renovation Mistakes New Home Owners Make
What is the hardest part of purchasing your first home? For some people, it's the extensive buying process. Sometimes, the process seems to drag on when all you want is to seal the deal and finally get your own place once and for all.
When first negotiating a home on sale, you may not think much about the renovations that may have to be done. Renovation projects can be demanding, whether it’s interior designing or full-scale remodeling.
Many first time homeowners make mistakes when planning renovation projects. These mistakes can be easily avoided when you do some little research. Here are some common renovation mistakes you should stay clear of.
1. Underfunding Renovation Projects
The results of your renovation projects can turn out to be different from reality. There are various factors that can affect what happens on the ground. Therefore, no matter how good your plan may be on paper, they are unlikely to pan out as expected on the ground.
When coming up with an estimate for renovation projects, add some extra cash just in case. You may be surprised to realize that you actually needed the money.
2. Underspending on Everything
Overspending or underspending on something does not necessarily mean you are getting a good deal. Some people want to spend close to nothing on renovations so that the total cost of buying the house does not end up being astronomically higher.
You need a budget for any real estate project you want to undertake. In this industry, “you get what you pay for”.
3. Starting to Renovate Too Early
Renovation projects can be tedious. You do not want to do the projects multiple times because you did not do them right the first time. Unfortunately, that is what’s likely to happen if you rush into renovating a home before learning everything there is about it.
If possible, move in first and get the feel of your home before starting to make significant changes. Often, people move into new homes and make changes only to rearrange things later because they just weren’t feeling it. Take your time and plan renovations based on your personality.
4. Expecting Everything to go as Planned
When handling a real estate project, rarely with everything work out the way you wanted. It's possible to control the outcome of a renovation project if you are building a new house. However, a house that requires renovating is not that new, and you cannot know what will happen if. For instance, what would be the outcome if you tore down a wall or a pillar to replace?
Do not expect your project to run smoothly—it likely won’t. Instead, brace yourself for unforeseeable situations.
5. Attempting Something you May Not Pull Off
Watching a few DIY videos on YouTube is not enough to prepare you for the intricacies of renovation. If the renovation involves construction, don’t even think about doing it yourself, unless you have some knowledge or a friend who knows what they are doing.
You can pull off a DIY interior design project by following tips from experts. However, this does not always work out if you don’t know what you are doing. The last thing you want is to waste money and time doing something, only for it to have to be redone by a professional at an additional cost.
6. Working with Someone Who is Not a Good Fit
When it comes to interior designing, not everyone will understand your needs. Someone might be good at interior design but this does not mean that he or she is suitable for you. A lesser-known designer who understands what you envision and is interested in learning more about your personality is better than a high-end designer who already thinks he or she knows what you want.
Work with an interior designer who listens, asks questions, and takes time to actually get to know you.
7. Overdoing your Renovations
Understandably, you may want your home to be stamped with your personality all over. However, this could hurt you down the line if you ever wish to sell the house.
Some of the things most homeowners go after when renovating are glossy bathrooms and ultra-modern kitchens with all the servings. High-end and overdone kitchens and bathrooms cost a fortune and hardly ever recoup half of the investment at the time of reselling. Additionally, if your renovations are too personalized, they may not be appealing to prospective buyers, considering everyone’s taste is different.
Ideally, you do not want to overdo things to the point of selling at a loss. Also, don’t over-personalize to the point of lowering your home’s resale value.
If you are thinking about any home improvement project, research about what needs to happen as well as possible bumps you’ll encounter the way. Also, consult an expert to avoid making the same mistakes new homeowners make.
