Home renovations can be pricey. From contractors and quality materials to a top-notch interior designer – there are lots of things to budget for when it comes to a remodelling project. However, do you know that there are a number of avoidable mistakes that can greatly increase your renovation budget? We’ve come up with five common and unnecessary mistakes that most homeowners make which affect their home renos and their wallets.
1. Waiting too long to renovate
A lot of homeowners are guilty of making do with the damages in their homes. In an effort to save money, they wait until damages are unbearable before finally deciding to renovate. However, waiting to renovate isn’t always a good thing. Doing small renovations when they’re needed can prevent a small problem, like mold in your bathroom, from spreading or getting worse – thus requiring a more complex fix. Also, doing one small renovation at a time is significantly more convenient than waiting to redo your entire home. These small reno projects save you from the major inconveniences that large remodeling projects come with – like long timelines, and temporary residences.
2. Cutting costs
Sometimes, homeowners make the mistake of looking for and purchasing the cheapest materials for their home renovations. Although sticking to your budget is advisable, it’s definitely not a good idea to skimp on quality. Cheap materials have to be replaced more often because they’re more susceptible to wear and tear. So, while their current price points might be appealing, they’ll cost you much more in the long run.
3. Choosing the cheapest contractor
Deciding on the best contractor to work with is arguably the most important step in the home renovation process. Not only do contractors work to bring your vision to life, they also give much-needed guidance and advice. Since choosing the right contractor is vital to a successful renovation, is best that you don’t go for the cheapest option. When it comes to sourcing help for your renovation project, you want to get different quotes and settle on the average cost. Cheap contractors usually sacrifice other aspects of your renovation to make up for their low bids. So, for example, they may use subpar materials and quick fixes. As a general rule of thumb, if the price seems too good to be true, it usually is.
4. Overly trendy renovations
Remodelling your home is the perfect way to add personality to your space. However, you want to make sure that the vision you have isn’t too trendy or bold. Sure, gold faucets and loud paint colours may be in vogue now, but who’s to say what will be popular next year? Due to the fleeting nature of trends, you want to avoid incorporating too many of them into your renovation. A reno that’s too trendy will end up greatly decreasing your home’s resale value as it won’t appeal to a lot of buyers in the market.
5. Under Budgeting
Regardless of how well you plan, there’s still a chance that something will go wrong during your home reno. Materials could be delayed, or you may even come across a bigger problem while trying to fix the current one. Leaving allowances for delays and other unforeseen circumstances is the best way to ensure that your renovation is completed within your budget. Otherwise, you can expect to shell out some money you didn’t plan on spending.
Your pockets don’t have to take a big hit due to your home renovation. By avoiding these five common mistakes, you’ll be well on your way to an affordable remodel with no unpleasant surprises.
Thinking of renovating your home? Get in touch with us today!