More people want to renovate their home now than ever before. In fact, according to “Remodeling Magazine,” big-ticket remodeling is actually up almost 5.1% from last year. While all that remodeling may be great for the economy and the equity in your home, problems can arise when you take on renovation projects by yourself. This is especially true if you don’t have the proper training or haven’t properly prepared.
There are three key mistakes that people tend to make when renovating their own home. Use the following tips to avoid making them so that when the time comes to put your home on the market, your home sale will be as fruitful as possible:
The first mistake is overestimating your skill level. Tiling may look easy on television, but you may end up calling a professional when you decide to tile your bathroom floor and walls without even taking a class. The professional will either finish what you started or end up tearing apart all that you have already done.
The solution to this is to take on something small first. Test your skills, and of course your patience, before you embark on something even tougher.
The second mistake you can make while renovating is underestimating your budget. Don’t get most of the way through your project only to have to change your entire plan because you do not have the money. Experts recommend that you set a budget and then save 20% more for that project. The more you add as a cushion, the better off you are going to be.
The third and final mistake is minimizing your timeline. Many homeowners wildly underestimate how long renovation projects will take.. Just because you have two weekends to complete a kitchen remodel before your in-laws come doesn’t mean that renovating a kitchen will only take two weekends. Do some research and listen to professional advice in order to avoid this mistake. You can even listen to or read blogs from other homeowners to find what they have done.
If you have any additional questions or are interested in buying or selling, please feel free to reach out to me. I look forward to speaking with you soon.