When my first child had an accident at home, I realised we hadn't childproofed the house as well as we could have. Thankfully, they were fine, but I learned my lesson and began a thorough inspection of my home and garden. I got to work addressing the various hazards we had overlooked, and I started this blog to help other parents think objectively about the hazards in their own homes. I post about a variety of topics, such as pool safety, choosing a safe garden fence, storing medication and cleaning products, window and door locks and kitchen safety for kids. I hope you find my blog useful and informative.
Many homeowners perform home renovations in order to make the home more suitable for their current and future needs. However, some of them commit mistakes during the planning or execution of the renovation. Those mistakes later haunt the homeowner (for instance, he or she discovers that the investment can't be recouped when the home is sold). This article discusses some of the home renovation mistakes that you should avoid.
Not Factoring In the Neigbourhood
Many home renovation projects have a dual purpose of addressing an immediate need of the homeowner (such as providing extra storage space) and improving the resale value of the property. However, some homeowners overlook the importance of considering the average value of homes in their area when setting their expectations of how the value of the home will be increased. This can be a mistake because buyers usually do some research about the average value of homes in a given area before making an offer. Thus, it may be unwise to exceed the average home value of your area when you renovate. For instance, try to avoid exceeding the average home size in your area by a very wide margin (more than 1000 square feet, for example). Such a huge difference will make it harder for you to realise a commensurate increase in the value of your home.
Expecting Gains From Out-of-Sight Improvements
Many homebuyers are influenced by what they can see (such as the appearance of the driveway) when deciding whether they like a home or not. You should therefore be realistic and avoid expecting prospective buyers to appreciate home improvements that they cannot see (such as improved insulation). Only perform such improvements if they were below the minimum acceptable standard in your area. Do not expect the value of your home to go up just because you conducted such hidden renovations.
Being Too Personal
Don't be too immersed in your personal wishes as you conduct home renovations. This tip is particularly helpful if you do not plan to stay in that home for very many years before you sell it. For instance, you may like purple and you want to paint the interior walls that colour. Few prospective buyers will have the same unique taste as yours so you should go for neutral colours that will not make a prospective buyer think that he or she will have to incur a cost to repaint the house to a more appealing colour.
As you can see from the discussion above, you need to approach a home renovation project with realistic expectations. Consult a home renovation professional for help, such as Edward Homes, in case you would like to determine which improvements would serve the two needs of increasing the home value and meeting your immediate needs. Find a balance between those two objectives.