Can you imagine wasting $100? How about $1,000? What if I tell you that you can waste a whopping amount of $10,000 or more if there are errors during your house renovation? If that’s what you are trying to avoid, you’re in luck because this article was specifically written for you, learn 9 mistakes you should avoid when home remodeling!
The price of home modernization can start at around $4,000 to as much as $135,000.This will vary depending on a lot of factors namely
- Floor area of the house
- Number of rooms to refurbish
- Details of the makeover, type of house (high or low end?)
- Materials that you prefer to be used, and
- Adding appliances or gadgets
In the same light, the reasons for reconstructing an area or the entire house are also varied. Some do it simply because of a want. They got tired of the old look. It’s a family tradition to redecorate on a regular basis. Some overhauling happens because they wanted to forget certain memories of the house – a part of their moving on process.
On the other hand, a number of home redevelopment happens because they wanted to put it up for rent or because they wanted to sell the house.
The bottom line is, we should all spend serious time contemplating about the details of our house renovation so that we can maximize the money that we are going to shell out.
Maximizing your Financial Plan
Define a Budget
Even the most affluent people think through the amount they have to pay. Majority of us would also deliberate the means of paying for their house reconstruction. Paying through cash or loans has their own pros and cons. You have to weigh which strategy is most applicable to your situation. Do not forget to include your significant others when it comes to the finances to avoid any conflicts.
Allotting a tight budget and sticking with it is crucial. Make sure you know how to properly account your (and your house’s) worth, buying and selling price, and some fundamental computations like knowing how much to pay for laborers, materials, etc.
Getting a Profit Out of It
Should you be considering of renting out your house (perhaps through well-known websites such as Airbnb or Agoda) or selling it. You have to ensure that the expenses will not outweigh your profits. Be practical as much as possible when designing and re-building your abode.
Assess the House Thoroughly First
You may get too enthusiastic after watching reality tv programs showcasing house rehabilitation. We all know how it feels to be inspired to start a project. However, you have to know that it may not be as easy as it may seem. You need to evaluate your house in a detailed manner before you start doing anything.
Check all the rooms, corners, even the roof! Check if the panels are invaded by termites. Doing this yourself will not cost you anything. Nonetheless, gaining insights from professionals can save you lots of time and effort, and spare you from future unnecessary expenses despite an expensive upfront pay.
“Give me six hours to chop down a tree and I will spend the first four sharpening the ax” – Benjamin Franklin
Accurate planning is the key phase of successful missions. Here are some important points you need to take into consideration when preparing for your renovation.
Take time to survey the market for the best team players. This will include your contractors and architects. Pinpoint where you can buy high-quality materials at a pocket-friendly rate. Check whether it is more affordable to go shopping for new furnaces on your local mall or through an online store.
Do not forget though, to learn about the wants and dislikes of your wife or husband or people who live with you. Read magazines, watch tv shows, ask your friends and family. Take some time to decipher what you really want to prevent changing of minds in the middle of the renovation.
From Cheap to Expensive
Ask yourself if there is a need to remodel your roof, floor, kitchen, and bathroom as these are the most expensive parts of updating your residential area. Prioritize what’s vital and needed before anything else. Is buying a new fridge or gas range a necessity? Do you really have to remodel the fireplace or dispose of the AC unit?
Yes, it is indeed pricey to purchase appliances and gadgets for the house. But, did you know that doing so makes the value higher? You can increase the rent by 20% or more depending on what’s included in the house.
Let us say you finally decided that you will DIY your home renovation; here are some principles you should bear in mind:
- Note that there is an interplay between the walls and the lighting of your house.
- Repainting can do wonders so choose your colors wisely
- A toilet that functions poorly will definitely outweigh your efforts no matter how expensive it is. Change showers and faucets. Ensure that the temperature adjustment and drainage is properly working.
- Either change the floor or making your scheme at par with the floor’s design
- Enjoy the process without going bankrupt
- Prioritize the safety of people living with you during the process. As much as possible, work one room at a time if you cannot move out while the renovation is ongoing.
- Lastly, do not forget to renovate in the appropriate weather! This will protect the materials from rain or extreme temperatures that can eventually lead to unsatisfactory finishes.
It is inexpensive, so why do many people go against DIY renovations? First, this is because they do not like to risk having expensive mistakes. Second, DIY takes too much time. Third, it gives you a chance to doubt your work and change the plan in the middle of implementation.
If you are patient, careful, and a good planner, by all means, make your family proud of your craftsmanship.
Conversely, if you want a more polished work or if you wanted to release yourself from stress, you should hire contractors. You will be surprised that they will bring ideas you’ve never thought about. With their expertise, you can save time and effort as they can also take care of your administrative tasks as well (legalities and paper works).
Gain referrals from friends, colleagues, or family members. Make sure that you share the same work ethic as them to avoid conflicts. Do not be shy to verify and double check the blueprint from time to time to prevent mistakes.
It is true that you can gain lots of knowledge through available resources these days. But you have to know its consequences, too: you could be spending longer labor days (instead of finishing early and profiting immediately) or worse, making mistakes that will necessitate you to shell out more money than what you have projected.
It may be a pain in the wallet if you will hire professionals to do the assessment, planning, and implementation compared to when you do it by yourself. You have to be wise and anticipatory so that the capital spending can turn to rewarding investments.