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Home renovation mistakes that cost a bomb on property value

Thinking of renovating your home? Then here are some mistakes you need to steer clear off during the project. These home renovation mistakes can not only cost a bomb to correct, but can also end up affecting your property’s resale value in the market in the long run.

Choosing the cheapest quote

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Never compromise on quality over price. If the price is cheap, chances are high the quality of work will also be cheap. This means you will end up paying much more later on to cover renovation mistakes. So compare a number of quotes before choosing the one that offers the best quality for the most cost effective price.

Not securing home renovation permits

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This is considered essential as a permit will help protect the safety of your home during and after renovation. Chances are the renovation you are undertaking does not meet local building codes following which you will run into trouble later on when trying to resell your property. The same rule applies for the contractor whose permits you need to verify before beginning the renovation.

Rushing the project

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Rushing a renovation project will only result in a sub-standard quality of work at the end. Know how long it takes to finish a project before starting it and plan accordingly. Do not rush to complete a project in 2 days when you know it can only be completed in about 4 to 5 days

Cutting costs

Kitchen and eating area in vacant home

Kitchen and eating area in vacant home

Of course, it doesn’t hurt to cut a few costs here and there. But cutting costs in the wrong places can backfire considerably. For instance, while you can choose reclaimed wood for wood paneling, you cannot choose a low quality paint which will simply peel away after a few months.

Buying cheap fixtures

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This is another area where quality needs to be given more importance than quantity. Cheap fixtures and duplicates may look good at first. However, their sheen will vanish within a week and they will get damaged as quickly as they were installed. So when choosing fixtures for your home renovation project, think long term and choose quality fixtures without worrying about the price.

Ignoring current issues

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Chances are you may encounter a few unforeseen issues while renovating your home. Leaving these issues for later will only increase costs later on. For instance, a leaking pipe behind a wall needs to be fixed before setting up a new wall. Otherwise, you will need to tear down the wall again later to fix the pipe.

Overdoing wallpaper prints and patterns

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You may consider wallpaper to be an effective substitute for paint. However, chances are prospective buyers may not be that keen on having wallpaper on the walls. Worse yet, using bold prints and patterns can be offsetting as tearing down wallpaper and repainting the wall is a project that could easily cost a buyer thousands of dollars.

Renovating only one room

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You may consider it cost effective to renovate one room at a time. As cost effective as this may sound, you may move out before renovating the entire house. If this is the case, then a prospective buyer will not be impressed with how the house looks half modern and half outdated.

Not planning the additional floor right

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You may want to add an additional floor to your home. However, simply setting up a staircase and a room in the form of a box at the top will not suffice. You will need to plan the floor and get it done properly in order to avoid your home’s property value dropping at the time of resale.

Home renovation projects can turn out to be quite costly if you are not wary about certain mistakes that need to be avoided. Choosing to ignore these mistakes can reduce your home’s resale value in the long run as well.

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