Whether you’re a homeowner looking to sell, or a buyer looking to make improvements to a new home, remodeling is one way to increase value and comfort as well as achieve the look you really want. However, definitely strive to avoid common mistakes people make when they start a remodeling project. Here are three of the biggest miscalculations.

Overdoing It

Remodeling can increase the value of your home -- if it’s done right. While you may want your home to stand out as the best one on the block, it shouldn’t be so different that it doesn’t fit in.

Remember, buyers often choose a location because of price range and certain amenities. Keep this in mind when tackling your remodel project.  It will increase the likelihood that your home will be easier to sell when the time to do so arrives. A $70,000 kitchen remodel may look great, but ultimately not provide a good return on your investment if the rest of the homes in the neighborhood less costly kitchens.

Changing Your Mind

Take the time to research your remodeling project thoroughly. Compare products and prices to determine what the final result should be. Enlisting the aid of a professional designer who can show you drawings of the completed look can be a preferable approach, especially for time and design-challenged owners.

Once you choose a plan, stick with it.  Owners who require changes along the way typically end up exceeding their budget or cutting costs in other areas to make up the difference. It’s better to take your time making the decisions than to try to alter the project once the work begins.

Not Padding the Budget

Unless you’re doing a minor DIY remodel, it’s likely you will end up with at least a few unanticipated expenses. These unplanned surprises will undoubtedly add cost, so cushion your budget to include for a few inevitable unforeseen issues.

Most experts project from 10 percent to 30 percent extra to prepare for these problems. So, for a $20,000 remodel, plan $2,000-$6,000 extra in your budget.  Should you live in an older home with outdated wiring and plumbing, you may want to increase that amount.

Accordingly, if you are planning a major home improvement project this year, make sure you avoid these three common mistakes. Being prepared will save you time, money, frustration and heartache. For additional information on beneficial and value-improving remodeling projects to consider, contact me today for a consultation. I will be happy to answer any questions you may have, and/or help you determine the value of your home.

 


Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

Facebook
Twitter
LinkedIn
Google +1
YouTube


Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets. 
 

Image courtesy of Pixabay.com