Remodeling a home can be an exciting and equally daunting project. Whether you’re planning a few small updates to a room or building an addition, a renovation could completely transform your day-to-day life and even increase your property’s value. But jumping into a remodel isn’t always the smartest move – timing, budget and your long-term goals all play a huge role in whether it’s worth the investment or if you’d be better off waiting (or skipping it altogether). In this post, we’ll take a look at some of the times when you go for it and some of the times when you should hold off.
When to remodel…
The layout doesn’t work for your lifestyle
If your home’s layout is restricting the way you want to live, it could be time to consider a remodel. Perhaps you’re unable to keep up certain hobbies or store certain essential items because you don’t have the space (for example, a small kitchen could make a baking hobby difficult and you may not have room for important utensils)? Perhaps there’s a lack of privacy in certain rooms (such as a front door opening into a living room or a bedroom overlooking a noisy street)? Perhaps you’re constantly rearranging furniture in rooms to make them more functional, but nothing feels right? Whatever the case may be, don’t continue to let your home frustrate you if the layout is easily changeable – by removing walls, relocating doors or extending rooms, you may be able to make your home feel more practical.
You’re selling your home and you want to boost its value
There’s a lot to consider when getting your house ready to sell. Many people don’t consider renovating – because why add new features to a home you’re not going to live in? Well, certain improvements could be a great way to boost the price tag of your home. Just make sure the value added is greater than the money spent. DIY renovations are a great way to save money and make a return, but you need to make sure they’re done to a high quality. Improvements like replacing floors or repairing walls can often be done on a small budget while carrying a large ROI.
You need greater accessibility and don’t want to move
If you’ve developed a disability or have a senior relative who has moved in, you should consider whether your current home is accessible enough. You don’t want to be straining yourself just to get around your home or risking serious accidents. While you can move to a more accessible home, adding upgrades like a walk-in shower or stairlift could be preferable if there are parts of your home you don’t want to leave behind. In some states, you may even be eligible for grants to pay for renovations.
It’s a matter of safety or compliance
There are certain renovations you cannot put off due to the dangers they could result in. This includes replacing a sinking roof, dealing with old electrics or getting rid of toxic materials like asbestos. Certain improvements may also be a legal requirement if you want to continue living in your home.
You’ve been planning for years and can finally afford to make it happen
The best renovations are the ones that you’ve been dreaming of for years, because you know that they are the types of improvements you are certain to appreciate. If you can finally afford to make them happen, don’t keep putting them off – give yourself time to enjoy these features. This could include building a spa-like en-suite bathroom, treating yourself to a gourmet kitchen or finally converting your basement into a bar or home gym.
When NOT to remodel
You’re already stressed out to the max
Remodelling involves a lot of upheaval – you might not be able to use certain rooms and may even have to temporarily move out. There could be lots of costs and contractors to keep track of. If you’re already stressed, you could find that it pushes you over the edge. Therefore avoid remodeling your home during high-stress periods of your life.
You don’t have a contingency budget
Renovations can often go over budget due to unforeseen costs. If you run out of funds to pay for the entire project, you could end up with an unfinished renovation. Alternatively, you may find yourself borrowing more than you can reasonably afford to pay back, leading to regret in the future. Work out how much your renovation is likely to cost and then make sure you have enough funds, plus an extra 10% to cover any surprises.
You haven’t got zoning approval or a building permit
Certain home improvements require permission from local zoning boards and building departments. Failure to get a permit before getting stuck in could result in large fines, or you could be ordered to undo all the renovation work. Additions and exterior upgrades typically require zoning approval – particularly in dense urban areas or when renovating historical properties – while electrical and gas plumbing work requires a building permit.
You’ve lived in the property less than a month
It’s recommended that you live in a property for an extended period of time before thinking about renovations. You may find that certain features you weren’t so keen on grow on you – they could add to the character of the building or may have practical advantages. Living in a property for a few months also allows you to get an idea of where the sunlight shines during certain parts of the day or potentially give you an idea of where people naturally congregate, so that you can focus on these areas. Making too many improvements too soon could result in you accidentally making impractical changes.
The chance of big disruptions is high
Ideally, you want to be able to carry out your remodeling project with no big interruptions. Avoid big exterior improvements if bad weather seems likely in the next few weeks – for example, projects like roof replacements are best carried out between late spring and early autumn. If you’re carrying out DIY improvements, similarly avoid starting a project during periods where you’re likely to be busy with work or other commitments, as you may not get time to finish it.
