Renovating a home is a huge undertaking, so it’s not surprising there are many potentia pitfalls. To help ensure the process is a smooth as possible, it’s important to have a professional team supporting you every step of the way. They know the possible problems that can arise, and can help you avoid the following common home renovation mistakes.
Financial mistakes
Many major issues stem from money missteps, such as:
- Underestimating costs. Getting quotes and doing research will help you understand how much labour and items actually cost, so you won’t have nasty surprises when it’s time to settle invoices.
- Scrimping on quality. There’s usually a reason why something’s cheap and, while there are areas you can save money on, it rarely pays to cut corners by cutting costs.
- Overspending. On the flip side, unnecessarily paying too much is also a no-no. Your budget is there for a reason, so take into consideration everything you need to cover and apportion funds accordingly.
- Not having contingency funds. Of course, unexpected issues can crop up, so set aside a pot to cover any unforeseen additional expenses.
- Renovating beyond the property’s ceiling price. There will always be a maximum valuation for your property based on its location. You won’t want to spend so much that you’ve overdeveloped and will never see a return.
- Not adding value. This goes hand in hand with the above point. Even if you don’t plan to sell soon, you’ll still need to consider the resale value after the work is complete – and you’ll want to add more value than you spend.
Procedural mistakes
There’s a certain way of doing things that you’ll need to follow. Oversights in this area that could crop up include:
- Rushing in. The first step in any renovation is research, planning and preparation. Do that first and you’ll avoid many difficulties that could arise.
- Ignoring the rules. There are restrictions depending on the scope of work and also the end goal – especially if you plan to rent out the property – so you’ll need to understand what’s possible from the outset.
- Not securing permissions. Some projects require building regulations, planning permission, or contact with neighbours in relation to the Party Wall Act.
- Following a process that isn’t in the correct order. Certain tasks have to be completed before others to ensure the most cost- and time-efficient workflow.
- Not setting a schedule. Understanding timeframes is key to keeping a renovation on track.
- Attempting DIY beyond capability. There might be some finishing you can get involved with, but it’s generally best to leave the actual works to the pros.
- Choosing the wrong renovations. You’ll want to make your home better for your requirements, but it’s also vital to consider what potential buyers would want in the future and renovate appropriately.
We’re here to help you avoid these mistakes! Contact Fittra for a no-obligation, free consultation about your renovations plans.
