09 Oct How to Avoid Costly Home Renovation Mistakes
How to Avoid Costly Renovation Mistakes
Home renovations can cost a pretty penny. But many jobs cost more than they need to, learn how to avoid costly renovation mistakes. Rushing the process, being cheap on materials and bad DIY jobs can not only add thousands of dollars to your budget but also have an impact on the value of your home when you put it up for sale.
Here are five costly renovation mistakes to avoid during your next project:
1. Hiring the Wrong Contractor
Be sure to properly vet your contractor and do your due diligence when hiring a contractor. Get multiple quotes for comparison. Ask if they are licensed and insured, ask for proof and check for validity. It’s also a good idea to see a portfolio of their past work before signing a contract, check online reviews and their status on the Better Business Bureau website.
And when you select a contractor, be sure to set clear expectations for your project and have a contract by both parties detailing the project, time frame, payment schedule, warranty description if applicable, and how unexpected issues might be handled. Check that you are excluded from liability to pay a subcontractor if the contractor does not pay them. Avoid paying cash, as reputable companies pay their taxes and get a receipt for paid work that specifies paid in full.
2. Cutting Corners
If you’re going to invest in a major renovation, it’s important not to use sub-par materials—especially if you’re doing work in high-traffic areas or where safety is a concern. Review all materials to be used with your contractor.
3. Too Much DIY
Projects like cabinetry installation, complicated tile work and carpentry are beyond the scope of most homeowners (even if you’re a DIY master) and can reduce the value of your home if done incorrectly.
4. Leaving No Wiggle Room
Renovations almost always involve extra costs. Whether your contractor uncovers structural or electrical issues, you run out of supplies or make some changes along the way, it’s good to have a buffer in your budget.
5. Setting Unrealistic Timelines
A kitchen renovation can’t be completed in one weekend. Be prepared to settle in for a number of weeks of disruptions to your daily life.
Are you considering a home renovation and need some professional contacts or have questions on the impact of the renovation on home value? We would be happy to help you, we are experienced Ottawa and Kanata REALTORS® , put our expertise to work.