Any property renovation is a BIG decision. And whilst you may love the designer results, there are other results you may not be expecting.
When a homeowner redecorates, they have a goal in mind. Typically, it is to add value with a property renovation or to turn their property into a dream home. However, for every action, there is a reaction.
So, when a property renovation takes place, there are always unintentional results with which a homeowner has to deal. It’s important to know what these are so you can avoid them or find a solution for the next time.
The following are four unexpected results of a property renovation and the fixes.
Property Renovation Result #1: Big Mess
Whether you are painting the walls or ripping out the kitchen, the house will look like a bombsite. Sadly, there is no way to avoid this because you have to break a few eggs to make an omelette.
Before you start renovating, ensure you have secured either a DIY trailer or skip. You will definitely need it for old bricks, plaster, flooring, and other items that WILL need to be removed from the renovation site. Check with you supplier as to what can and CAN’T be placed in a hired skip. Typically asbestos, appliances, batteries, and paint can NOT be placed in a skip.
Load up the renovation rubble in a trailer and take it to the closest landfill site or hire a skip for the days you need it. If you have the money, rubbish removal services are available too. That way, you can shirk the responsibility and save time.
Property Renovation Result #2: Hook, Line And Sinker
In the beginning, the project appears to be too big and energy-sapping. After a while, it becomes apparent that you are going to love every minute of the process.
After all, there is nothing like watching a home take shape to get the blood pumping. Like all addictions though, there is a price. Getting hooked on renovations has both literal and metaphorical costs.
Of course, the price of redecorating isn’t small even if it is just a DIY job. And, renovation can take over your life and ruin the balance. The key is only to sanction the necessary projects and leave the rest.
Property Renovation Result #3: Investment Opportunities
Your property only has so much space before there is nothing left to change. When there is no room and a desire to renovate, there is a temptation to broaden your portfolio.
No, not the one you use for work, but your real estate portfolio. Once you are hooked, investing in run-down houses and flipping them seems like the best idea ever.
It is a potential money spinner as long as you consider a few simple factors. Firstly, never invest money you don’t have, even if it is a “sure thing.” Secondly, don’t underestimate the budget. Renovating an old property always costs more, and you must keep that in mind.
Listen to this revealing podcast about making money from property with a Mortgage Broker and an Accountant for REAL advice (of a general nature, of course). This is from our Sister site, The Style Podcast.
Property Renovation Result #4: End Product
Don’t assume the final renovation will be everything you imagined and more. Sometimes, a complete overhaul doesn’t go to plan and leaves the homeowner worse off than before.
You have to understand the risk never goes away, no matter the precautions. Still, getting professional sketches, advice from an interior designer, and vetting the potential contractors can help. Ask for proof of qualifications and particularly insurance when dealing with contractors such as builders, plumbers, electricians, and engineers.
At least they will know what they are creating and how it should look. Also, communication is one of the keys to success. Always communicate, ask questions, raise concerns, and be involved with your contractors.
Hopefully, everything will go to plan. Just remember that any renovation can go off-piste.
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Yes, we provide professional interior design and renovation project management services. Please contact us for further information.