Remodeling a home can be stressful, especially if you’re working on getting it ready to sell. With 85% of homeowners reporting that remodeling is even more stressful than buying a home, it’s definitely not something you want to take lightly.
Make it easier on yourself by avoiding these common remodeling mistakes:
1. Remodeling without a budget.
Almost half of homeowners go over budget when remodeling. You need to be realistic when setting a budget, so give yourself some extra room when putting together a list of expenses. If you want to be really safe, set your budget at double your original quote. That way you’ll be prepared for whatever changes or problems that come your way (see #3).
2. Not getting a fixed-price contract.
A fixed-price contract can protect you against unscrupulous contractors who drag out projects in order to charge you more. When you sign a fixed-price contract, the contractor has to complete the project for the price you agree upon. Obviously, if you decide you want to change the course of the project along the way, then you should expect the price to change as well.
3. Not preparing for the unexpected.
This is one of the most important mistakes that be avoided with some good research and preparation. Take the time to sit down with your contractors and ask them common problems they run into and how they fix them. You won’t regret it.
A newly remodeled house can help raise the value of your home, but you don’t need to go broke (and pull out your hair) in the process. Get the full list of remodeling mistakes to avoid in my CBS article.
Rainers, What are some other remodeling mistakes you’ve seen?
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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