In a tight economy, many homeowners will opt to stay in their homes and renovate them, as opposed to look for a new home to buy. Renovations can increase a home’s value for a future resale, but beware. A poorly completed renovation can make your home difficult, if not impossible to sell. When considering a renovation project, here are some things you should and shouldn’t do in order to get the most out of your investment.
- Your contractor will be spending a lot of time in your home, so while it’s important to pick someone skilled, you also want to hire someone who you get along with.
- Keep in touch with your contractor on a daily basis, by e-mail or phone, until the renovation is complete. It’s important to be aware of any issues that might prolong the renovation or cost more money down the line.
- Don’t purchase materials such as carpets or paint without looking at swatches or samples first. While you want to trust the contractor or decorator’s judgment, you will have to live with the choices, so be involved in the decision-making process.
- Before remodeling gets into full swing, ask your contractor to cut some holes in the walls to assess the condition of the wiring. If it is out-of-date, or there are other issues lurking behind your walls, you’ll want to know before you get too far into the renovation.
- When purchasing materials, put quality first. It can be better to spend a little more on cabinets that will last for 20 years or more, as opposed to the less-expensive ones that will last you 5 to 10 years.
- Stay within your budget — one way to do this is not to make a lot of changes midstream. Any changes to the renovation project will mean more time and money spent.