If you’re starting to plan how you want to spend your money and your time in 2023, one of the big things that might be on your list is renovating your home. Remodel work can significantly increase your property’s value, make it more liveable, and help you sell it or refinance if that’s your plan.
However, many people get caught out by the numerous myths that abound on the topic of renovations. Here’s what you need to know before you start freshening up your place in the new year.
Myth: You Can Do All the Work Yourself
The first myth that needs busting is the one that says you can do a renovation all by yourself. While it would be nice if this were the case, it can be dangerous to you and others if you try to do jobs without experience, training, or licenses. Even if you’re an experienced contractor, such as a painter, plumber, electrician, or carpenter, there are going to be some jobs that you need to outsource.
Anything regarding electricity, especially, can be dangerous to tackle without the proper knowledge and skills. As such, while you can learn to do many simpler tasks yourself, there will be some that you need to hire contractors for. You’ll probably need to pay for an electrician, plumber, and carpenter or builder if you need structural work done.
Remember, too, that you may need to ensure someone licensed does certain jobs if you want work certified by your local council or another authority or warranties or insurance to be valid. Paying an expert to do work can save you considerable time, energy, and money in the long run (due to avoiding problems), so don’t be afraid to outsource as needed.
Myth: Things Go to Schedule or Don’t Take Too Long
Another common myth is that you can plan out a schedule for renovation work, and everything will run smoothly. Of course, it’s vital to come up with a timeframe you want to get work done in, along with a plan for which jobs need doing and in which order, but as anyone who has done renovations before knows, things rarely go to schedule.
You might think that a basic freshen-up of your home won’t take too long, either, but even simpler remodeling work can get delayed due to things outside your control. For instance, tradespeople often get delayed and can’t start jobs when planned, or rain or other weather issues may mean they can’t continue working to schedule.
You may need to order materials and appliances and other goods but find that shipping or out-of-stock delays put a dent in your plans, and the same goes for getting the wrong items accidentally supplied to you. As such, try to be a little flexible when developing your timeline and know that you may need to wait longer for jobs to be finished than you’d like.
Myth: All Improvements are Worth the Money
An erroneous idea that continues to do the rounds in society is that all improvements to a property are worth the money you invest. Sadly, this isn’t the case. It all comes down to what potential homebuyers (and banks and other financial institutions) value most in your area and what things tend to be popular over time. The features people look for can change, so what you invest a lot of money in today may not be seen so favorably in the future.
Plus, sometimes you can spend money on an improvement only to find that it doesn’t ever work or look quite right and is thus not worth the outlaid funds. When planning out how to renovate your property, then, research who typically buys homes in your area and what it is they’re looking for.
For instance, families might be more interested in extra bedrooms and bathrooms plus a big backyard and a pool, while retirees might want a property that’s easy to maintain, which they can lock up and leave if they want to travel for months at a time. Others might be looking for smart home features, while some buyers will be keen to have work-from-home facilities or lots of privacy.
It also helps to think about the investments you can make in your place that don’t cost too much but give lots of “bang for your buck.” For example, it usually pays to purchase modern ceiling fans for each bedroom and living area, update kitchens and bathrooms (at least with new tiles, fixtures, and fittings) and modernize flooring. Simple landscaping features can work well, as can setting up an office space, and freshening a home up with paint.
Other myths to be aware of include that repairs to appliances and other home features are cheaper than replacements, that paint can cover (and fix up) anything, and that it’s wise to follow design trends. Consider these and the above erroneous beliefs when modernizing your home, and you’ll save yourself plenty of headaches.
