4 Remodeling Blunders that Lose Money

Sometimes home remodeling is a relaxed affair. A small and/or common project, whether DIY or commissioned, is easy to manage—and if it doesn’t turn out right, the consequences are not dire.

In other cases, home remodeling is a high stakes game. When you’re talking about investing thousands or even tens of thousands of dollars into a major project, getting it right becomes a matter of vital importance. Mistakes can drastically affect both your enjoyment of the home and its long-term market value.

People are often curious about the most common and costly remodeling mistakes made by Americans today. It’s only natural to be curious, and of course people want to steer clear of those pitfalls and make their remodeling dollars count.

Here are five common blunders that make people wish they had a home remodeling time machine.

Building in a big aquarium (or electronics)

Unless James Bond is your arch nemesis, you may want to reconsider installing huge aquarium in your home. Most homeowners regret this decision sooner or later, as the maintenance requirements are constant and the potential for bad odors, leaks, and other problems can threaten the tranquility of your environment.

As for built-in electronics, technology changes much too fast for that to be a good idea. Losing the ability to easily upgrade your technology is a clear disadvantage.

Eliminating a bedroom when you shouldn’t

When homeowners do this, they usually have bedroom that isn’t used much, and wish to utilize the space for a walk-in closet, a larger living room, and so on. Sometimes this is a great renovation that people are happy with. However, if it means that your home will have fewer bedrooms than most other homes in the neighborhood, or if it makes for an awkward floor plan, you may want to consider carefully before knocking down any walls.

Going DIY on a big project

This mistake encompasses a wide range of home remodeling projects, and basically amounts to homeowners biting off more than they can chew. Rushing into an attic or basement remodel, for example, can seem like a great idea—but there may be issues you haven’t considered that will threaten your investment, such as mold and water damage issues. Decks, hardwood floors and counter tops are other examples of DIY projects that end up going South and costing homeowners in the end, leading them to wish they’d brought in professional help at the beginning.

Steering clear of pitfalls

While it’s true that certain mistakes can lead to regret and even financial loss, you shouldn’t have to feel nervous about planning and executing a home remodeling project. Many project yield fantastic results, and the majority of American homeowners are happy with their remodeling investments.

It really comes down to careful planning, and considering how a certain remodel will affect the market value of your home, in addition to your own taste and enjoyment.

Second opinions are your greatest ally—especially those of seasoned professionals. Don’t be afraid to chat with remodeling companies about your ideas. Their perspective—as well as the perspective of friends and other people you know—will help solidify your plans and raise any issues you might not have considered. Then you’ll be able to move forward with confidence.