Renovations offer a wealth of benefits, including an increase in your property value. However, to produce the most benefits, they should be completed professionally, and the budget must be spent wisely. Many homeowners jump into renovations projects without doing their research. This can lead to sinking money in upgrades that will have little returns or winding up with a much larger project than they initially anticipated.
When you start a renovation, many moving parts need to be considered. Therefore, heading into one without the proper planning will cost you time, money and peace of mind. Depending on the changes made, it can even lower the value of your home instead of increasing it! Lions Den Construction has some tips about common mistakes made by homeowners that you should avoid during your next renovation project.
Not Setting a Proper Budget
The first step to any successful renovation is sitting down to plan out a thorough and realistic budget. Often, homeowners who have never renovated find the overall cost to be higher than what they initially thought. As a result, we always recommend that homeowners add 10-20% extra to their budget as a contingency fund. That way, you’ll be prepared for any unpleasant surprises that come your way. Plus, if you end up under budget by the end of the project, you’ll have extra to invest in decorating!
Doing Too Much at Once
Another common mistake people make during a renovation is trying to complete too many upgrades in the home at the same time. It can be tempting to renovate your bathroom, kitchen, bedroom, and upgrade your landscape at once. However, unless you’re working with a professional team that’s experienced in complete home renovations, like Lions Den Construction, it is best to work on one or two areas at the most.
We recommend that you take the time to consider which projects are most important to you. Then, place those projects ahead of those that are simply for hubris. This will limit the amount of stress you feel, and also help you keep your expenses under control.
Not Understanding Their Limitations
The third most common mistake seen during home renovations is people not understanding their limitations and the requirements of the project. For example, upgrading or renovating a bathroom will involve plumbing work that is generally complex. Finishing a basement generally will include complex electrical work. Other renovations may require a load-bearing wall to be moved, while some may be simple projects that become much larger once a fault in the home is exposed.
Small projects that can be completed during a weekend, such as a cabinet refinishing or painting a room, can be done on your own. Larger projects that require a special skill set should be left to the professionals to avoid any costly mistakes. Working with our contractor will equip you with the knowledge and support you need to get the job done right. This will save time, money, and effort in the long run.
How We Can Help
There are a lot of dangers and specialized skills associated with home renovation. Working with Lions Den Construction ensures that your project will be completed safely and on time. We offer no-obligation consultation every size of home renovation project you can dream up.
Remember, there is nothing wrong with calling in the experts if you feel you are in over your head, or if you simply want to leave the heavy lifting to the professionals. Our Toronto construction company will work with you to create a customized list of renovations and upgrades to suit your needs and the aesthetics of your home. Give us a call at (416) 893-8318 to find out more.
