So you’ve decided to renovate your home. You’re excited and nervous, but confident as you’ve done your due diligence and have tons of information, pulled permits, and have quotes from contractors. Some of them seem reasonable, and others were ridiculous, not to mention some of the contractors were as colourful as their quotes. Sound familiar?
Well, here is the skinny on home renovations from a Realtor’s perspective. If you’re considering a renovation, you owe it to yourself and your home to protect your home’s equity. After all, you don’t want to put in all that money on the renovations just to have it be a complete waste of your time, money and efforts. Homes that have DIY renovations completed, tend to be very obvious, as they lack quality and sell for less. I’ve yet to hear a buyer say, “Oh, I can fix this.” I always hear, “This all has to be torn out and redone” or “What were they thinking?” Then, I generally will hear, “I wonder what else wasn’t done well, maybe the plumbing and electrical are bad too, or worse, who knows…let’s just move onto the next house, please.”
Bottom line, if you’re not able to complete the renovations like the pros, go ahead and hire them. You will not only come out with more equity in your home, but you will sell your home easily when you’re done with it. Buyers will instead say, “WOW, these sellers really took care and did great quality renovations here.”
So, how do know if your DIY is good enough? Go and visit some show homes in your area. They will give you a good idea of everything, from what’s expected in quality of workmanship, to what’s current in décor.
And don’t forget, your Realtor can recommend great contractors in your area. Your Realtor can also give you a good idea of your home’s current and post renovation values. Ask your Realtor if the renovations you’re planning to do are going to give you the return you anticipate. Your Realtor is your ‘go-to’ for all your home needs and is always ready to help.