Renovating a property is a personal experience. The house is yours, and you want to mold it into your image. Unfortunately, we are warned of renovation myths, and like with most things in life, it is easy to be led by friends, family, and total strangers who have been there before and worn the t-shirt. Their experience trumps yours, which is why you put so much faith in their words.
However, no two projects are the same, so believing in the renovation myths is not a wise move because it could cost you money, happiness, or both. Here are four examples that prove the risks of listening to other peoples’ opinions while renovating the property.
#1: A Pool’s A Waste Of Money
Apparently, pools do not carry the type of resale value you would expect when you compare how expensive they are and the potential maintenance fees. This is true, in some circumstances. In others, it is fake news.
Hiring a pool design company is almost essential if you live in a posh neighborhood where the climate is warm all-year-around. In this case, the 7% resale value shoots up by a significant proportion. Plus, there is the competition element as your property will not sell if you do not have a pool and the rest of the community does.
#2: Projects Go Over Budget
One of the biggest renovation myths is that a budget holds true. Not true at all. Projects always seem to go over budget, especially in large jobs. That is why renovation experts recommend adding an extra 10 to 15% to your budget to avoid wasting money in the future. Of course, this is a general rule, one that is smart to keep in mind, yet it is not guaranteed to happen.
Robi Kirsic, a renovation professional with years of experience, believes you can stick to a tight budget “if you can decide what you want and stick to it.” Issues happen when you are indecisive or change your mind suddenly. Therefore, the key is to prepare thoroughly and remain loyal to your first draft.
#3: DIY Is Cheaper
Doing it yourself is less expensive when it comes to replacing a fuse or fixing a lightbulb. The call-out charge alone will dwarf the cost of labor and parts, which is why it makes sense to break out the toolbox. The same logic does not apply when the job is significantly bigger and more complicated.
Figuring out the blueprints can take amateurs months, and your time is something you should value highly. Then there are the costs of materials that you can not source affordably without contacts. Lastly, if anything goes wrong, you will have to hire a contractor anyway. The cheapest option, by far, is investing in building solutions.
#4: You Will Not Need A Permit
Why would you when it is your property? Sorry, but this is wishful thinking since your neighbors and local authority’s opinions count, regardless of ownership. The rules differ state by state, so you should check them, yet you can not typically demolish, add, or remove features from an area with windows and doors without permission. Properties under homeowner association rules pretty much require written permission for any changes. If in doubt, speak to an official about building permits.
Final Thoughts on Renovation Myths
As you can see, there is a range of renovation myths. Therefore, it’s better to do your research and listen to your own opinion and those of the professionals. Play it smart and make the best decision based on the facts, not some renovation myths passed down from others. Doing the research ahead of time is the key.