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Don’t Lose Money on These Home Renovation Mistakes!

SONY DSCHome renovation is supposed to be exciting, challenging and rewarding. In recent years, Americans have been investing more cash in their homes, with national totals exceeding $150 billion annually. Why are they doing this? Because a successful renovation has a long list of benefits. A better lifestyle now, and a higher property value tomorrow. When a renovation truly hits the mark, everybody wins.

But that’s not always the case. Of that $150 billion, countless millions are lost on poor quality renovations that fail to meet expectations, ultimately resulting in disappointment and financial strain.

Thankfully, there is an abundance of information out there to guide homeowners away from renovation hazards. By studying the common mistakes of other homeowners, you’ll give yourself better chances for a successful, rewarding renovation that exceeds expectations and provides tangible gains. Here are a few common mistakes that cost money.

Measurement blunders

When you’re talking about thing like kitchen or bathroom remodeling, you’ll probably be buying new cabinets, fixtures and/or appliances. These are expensive items, and measurement mistakes can be costly. If you install new cabinets without proper planning and measurements, for example, your kitchen layout could suffer dramatically. It’s crucial to get the measurements right—or at least choose a professional who won’t make elementary mistakes. Otherwise your renovation could get complicated in a hurry.

Being reckless in choosing a home renovator

Everybody wants to save a buck, but choosing the cheapest home renovator is usually not the best way to do that. The most skilled and qualified renovators may cost a bit more than a quasi-professional with an ad on Craigslist, but you’re talking about thousands of dollars of hard-earned cash. You want a result that lasts, performs, exceeds expectations, and is guaranteed by a robust contract.

Not budgeting accurately

Budgets should typically be increased 15-20% over what you think it will actually take to complete the project. There are almost always breakages and other mishaps that drive up the cost of a project. By building these possibilities into your budget, you have a better chance of being pleasantly—instead of rudely—surprised when all is said and done.

Following the trends

Study what’s trendy now, sure—but also pay attention to classic styles that have held value throughout the decades. Remember—what’s hot now may not be dated a few years’ time. Your property value can suffer as a result of following home renovation trends.

How can I protect my interests?

Home renovation is a high stakes game involving thousands, perhaps even tens of thousands of dollars. Homeowners are wise to proceed carefully, studying the common traps and pitfalls before settling on a plan and moving forward. One of the most valuable things you can do is take your time when deciding who to work with. There are probably hundreds of home renovation specialists in your area, and not all of them are qualified to deliver the results you need. Bringing a skilled renovator into your project while it’s still in the planning phase is a great way to avoid missteps and formulate a rock solid plan that will turn out a predictable and successful renovation result.