Biggest Remodeling Mistakes Homeowners Make

The biggest remodeling mistakes homeowners make won’t necessarily surprise you. That’s because hindsight is 20/20 and looking at less-than-desired results is easy. When homeowners decide to remodel, it’s typically for one of two reasons. Either they plan to stay in the house for years longer or they need to match local competition to sell for a strong return-on-investment to move into a bigger home. It’s estimated 62 percent of homeowners will make upgrades in this year alone. But enthusiasm, tight timelines, and other factors play detrimental roles, causing the biggest remodeling mistakes.

Top House Remodeling ROI Improvements

To really add value to a home, you must choose the right improvements. For instance, some of the top house remodeling home improvements for capturing a good ROI are: entry door, garage door, manufactured stone veneer and attic insulation. A new entry door averages $1,335 and returns 91.1 percent. Installing a new garage door costs on average, $1,652 and returns 91.5 percent. Adding manufactured stone veneer at an average of $7,519 captures an ROI of 92.9 percent. While new fiberglass attic insulation averages $1,268 but returns an impressive 116.9 percent.

Remodeling a home is more stressful for many people than buying one, according to a new survey. A whopping 85 percent of homeowners say remodeling is stressful, which edges out the number who say taking out a mortgage is stressful by 5 percent, according to a Harris Interactive study commissioned by Bolster, a New York-based company that offers remodeling insurance in the state. Budget woes, problems with contractors and even relationship issues plague homeowners looking to remodel. Nearly half of remodelers went over budget. With that much money at risk, and that level of disruption to your home, no wonder remodeling is the most stressful thing a homeowner can do. —CBS News

Home improvements to avoid are: an upscale composite deck addition, upscale bath remodel, upscale master suite addition, upscale bathroom addition, and a no-frills bathroom addition. An upscale composite deck addition averages $37,943 but returns 57.7 percent. An upscale bath remodel costs on average, $57,411 and returns 57.5 percent. An upscale master suite addition averages a whopping $245,474, but returns 57.2 percent. An upscale bathroom addition averages $79,380 and returns 56.7 percent. While a regular bathroom addition averages $42,233 but returns just 56.2 percent.

Biggest Remodeling Mistakes Homeowners Make

Aside from the type of home improvement, homeowners commit other common renovation mistakes. These cost property owners in a number of ways — financially, emotionally, and even affect relationships. The most common reason home improvement projects go awry is due to not looking forward into the future. Even homeowners who make improvements to sell their properties become shortsighted because they are focused on their next house. Here are some of the biggest remodeling mistakes homeowners make:

  • Going all-in on custom upgrades. A huge custom kitchen, an all-inclusive media room, some luxury landscaping, or upscale master suite addition are all great amenities. These are ideal for creature comfort and true customization. Trouble is, not one will deliver a justifiable return-on-investment. What’s worse, buyers will balk at necessary maintenance.
  • Installing inexpensive appliances. A kitchen remodel can completely transform style and function. Since it’s the most used space in the home, improvement ideas are everywhere. But when there’s no real plan or budget constraint, time and money become issues. That’s when homeowners succumb to frugality and that’s a huge mistake.
  • Working on an unrealistic timeline. Some homeowners make improvements to sell but do so on an unrealistic timeline. Others renovate prior to moving into a new home. The latter is an invitation to cutting corners because the new owners want to move in as soon as possible.
  • Thinking one contractor will do it all. Even though professionals are referred to as “general contractors,” it doesn’t necessarily mean one will be the right fit for all home improvement projects. Just because one delivers great work on a small job does not mean the same results will happen with a much larger project.
  • Forgetting child safety and convenience. Homeowners need to think about child safety — even for those who do not have children. At resale time, some improvements will become safety issues. In addition, you need to think seriously about function and convenience.

If you are considering remodeling your home to sell for the best return on investment here in Orlando, contact us for the latest market information. Together, we’ll devise a strategy to market your house effectively.