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The Four Most Risky Home Improvement Projects

Home improvement is bigger than ever. In fact, at this point, we can safely call it a craze. Big home improvement stores are now a regular fixture in town, cities, and along Interstates. Flip through your basic cable TV and you’re bound to find one or two home improvement TV shows on the air. And if you go online, there’s literally an endless stream of instructional and inspirational content for the home improvement enthusiast.

Why are people so enthusiastic about home improvements?

Statistically, there are a couple of main reasons. The first is that the home is often the center of a family’s financial life. For most homeowners, the home itself is by far the biggest debt (and also the biggest asset) they have. The condition, appearance and integrity of the home has real importance financially, both now and into the future. Home improvements are a way of protecting and strengthening this investment.

The second main reason has more to do with lifestyle, convenience, and personal tastes. If you’re going to spend years living the same home, you want it to reflect your tastes and provide a certain type of lifestyle. Home improvements can deliver meaningful improvements in lifestyle areas that really matter to homeowners.

But not all home improvement projects are a walk in the park. Here are six of the riskiest projects you can undertake.

1. Swimming pool

If you live somewhere hot and dry like Texas, a swimming pool is going to be a decent investment in your home. In the majority of cases, it will add value and make the property more appealing. But if you live in New Jersey or a comparable state, putting that pool in may be more trouble than it’s worth. In some cases, swimming pools can make homes more difficult to sell.

2. Garage or home addition

These are great home renovation projects; but if your primary goal is to add market value to your home, your return may not be everything you hoped for. In many cases, these additions add huge lifestyle benefits and may make the home more appealing, but market value is a more difficult thing to move.

3. Remodeled kitchen

What makes a totally remodeled kitchen risky is really the price tag. With an average national budget of around $20,000 for a total re-do, it’s a tall order for many homeowners. You want to make sure the details are done right and that quality materials are used throughout. You also want to give special care to the process of researching and designing your kitchen. Many homeowners will choose to focus on trends and styles that aren’t going to be obsolete anytime soon.

4. Other risky projects

It bears mentioning that some projects are risky in more direct ways. Many DIY home renovation projects (such as electrical, plumbing or gas work) are actually illegal to attempt on your own.

How do you make your home improvement projects less risky?

The process of selecting and working with a home renovation contractor is the single most important thing you can do to make your home improvement projects less risky. From avoiding mistakes during the planning phase to making sure the finished result is everything you want it to be, the right specialist can take the worry and guesswork out of the picture. The trick is finding a contractor who truly delivers these kinds of results.

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