What are some reasons NOT to renovate your home?
Sounds odd that a major remodeling company would discuss reasons not to remodel. Not really.
The goal of any company, remodel or other, should act to be of service to people. People come first. I am often asked to help folks decide on whether or not to remodel, what to remodel, and how much of an investment it might be. All good questions.
What I would like to share are some common reasons NOT to remodel.
You want to sell the home that you have lived in for quite a while.
You are thinking you have to upgrade your kitchen, bath, or some aspect of your home to entice a buyer. Now, this is different than fixing things that might be broken. What folks are doing here is trying to guess what a potential buyer might like. Ouija Board kind of stuff. I cannot tell you how many times we have torn out something that is less than a year old. My suggestion is to consult your Realtor regarding the value of your house without a remodel, and then with the remodel. You can also Google ‘Cost vs Value, Remodeling Magazine’. Typically, the cost to remodel will not match the value added to your home in the short term.
Another caution is over building for the neighborhood.
Now, this is trickier. I often tell folks to remodel for you. If it makes you happy, enriches your life, then do it. The last thing you want to do is spend 6 figures on a remodel and stand back and say “I wish I would have…” If you are in your home for the long term, then go for it. If you are planning a move for work, retirement, or a vertical move, then consider the resale value.
Now by long term I mean about 10 years. Short term would be less than 5 years. Zillow is a good barometer for determining the average home value in your area. Your Realtor can also be a valuable asset. I would recommend if you were in for the short term, keep your budget within 10 to 15% of average value.
The last reason is trying to keep up with the trends of the time.
Remodeling trends change quite frequently. After 35 plus years at this I can assure you that things such as chrome and brass faucets and bath fixtures were the rage in the 80’s, you can’t even find them now. Updating is one thing. That is the refreshing of a place as surfaces wear out, and items need replacing. While it is great for business, redoing your home every few years can become rather expensive!
So the crux of this article is for folks to go into the remodeling of your home with eyes open and a remodeling partner with experience you can count on.