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8 Popular Myths About Home Renovation
We all dream of creating a perfect home, but we all know it isn’t as easy as we think. Whether it is building a new home from scratch or renovating an old one, it requires a significant investment of time and money. Home renovation allows you to enhance your living space, create a pleasant and functional environment and benefit from an increase in property value.
However, many homeowners approach home remodelling projects with misconceptions, which may lead to unexpected disappointments, challenges and expenses. In this post, we will debunk some common myths about home renovation or bridging finance for home purchase to help you make informed decisions and achieve desired outcomes.
Myth1 – DIY projects can help you save money
Many individual homeowners believe that they can undertake home renovation projects, such as painting interior walls, kitchen renovations and bathroom remodelling for less money by doing work all by themselves rather than hiring a professional.
The truth is a home suffers more damage when an unskilled and inexperienced individual tries to do something on his own. Home renovation projects can turn potentially dangerous if caution is not taken during the remodelling work. Hiring a reliable professional is always a better option to save time and money as they are equipped with the right equipment to undertake the job.
Myth 2 – Home remodelling is always expensive
Another pervasive myth about home remodelling is that it always comes with a hefty price tag. While that’s true for some remodelling projects, not all upgrades require breaking the bank. The cost of home renovation depends on its complexity, scope and the materials used.
Some home improvements, such as adding a fresh coat of paint, upgrading lighting and refinishing cabinet faces and furniture can be inexpensive. As a homeowner, you can set a realistic budget for your home renovation, prioritise essential improvements and find cost-efficient options for labour and materials. You can also opt for property development loan london to cover the renovation cost if you are planning to sell the home after renovation.
Myth 3 – You need to replace everything at once
While thinking of making home improvements, we often think of replacing everything at once. It may be tempting to undertake all aspects of renovation simultaneously, but that is unnecessary and wasteful. It is advisable to prioritise the most essential upgrades and then work your way down the list.
Home remodelling may have many benefits, but it is essential to have a comprehensive plan based on your budget constraints, living arrangements and lifestyle needs. This way you can save money and make the most out of your budget.
Myth 4 – Permits are not required for small renovations
This is another popular misconception – you don’t require a permit to undergo renovations. Well, this may be true to some extent, but not completely. You don’t need a permit to repaint, or install bathroom cabinets or install new flooring.
However, if you are undertaking any type of demolition work, such as structural, plumbing or electrical upgrades, permission is required. Any changes that affect the home’s accessibility and security must require permission. Make sure you acquire the necessary permits before commencing the renovation work in order to avoid legal issues while selling the property.
Myth 5 – Remodelling is fast and easy
Often some inexperienced or desperate contractors claim to make remarkable home transformations in a matter of days, but in reality, home remodelling projects are time-consuming. The size of the project, weather conditions and availability of labour and materials are some crucial factors that can affect the project’s timeline.
In general, it takes about 2 to 4 weeks to redo a bathroom, 4 to 6 weeks to renovate a kitchen and several months to undergo an extensive home remodelling. Larger houses can take even a year or more, considering any potential delays. It is recommended to hire an experienced contractor who can help you set a realistic project timeline.
Myth 6 – You should always renovate with current design trends in mind
Incorporating current design trends in your home interior can be tempting, but current design trends don’t always work in every space. Furthermore, current design trends tend to become outdated in the next few years, and you will be left with a home that is filled with overly trendy elements.
While renovating your home, always consider designs that are easy to change. Avoid using expensive and permanent embellishments, so you don’t end up creating a home that doesn’t match your lifestyle. Always remember that design trends are continually changing and people grow tired of trends easily.
Myth 7 – You can recoup 100% return on investment
Some home renovations, such as kitchen upgrades can boost your home’s value and may appeal to potential buyers, but it is highly unlikely that you will recoup the entire bridging finance renovation cost when you sell your home. That is because real estate markets fluctuate, and specific renovations may not align with current market trends.
Usually, you can cover 60 to 80% returns on the cost spent on renovation. Hence, it is best to invest in upgrades that make your life comfortable while you continue living in your space, rather than just trying to increase its potential resale value to quick bridging finance.
Myth 8 – A good renovation plan can prevent surprises
No matter how greatly you plan, renovations tend to uncover unanticipated problems in your home. Only after the renovation work begins, you will find undetected water leaks, pests and other potential issues.
Create a comprehensive renovation plan taking unforeseen issues into account, which can lead to delays and cost overruns. Engaging with professional contractors can minimise surprises, but you cannot avoid them completely.
Bust These Myths and Give Your Home a Makeover
We hope busting these popular home renovation myths will help you make smarter decisions for your home and approach your project with more confidence and clarity. Dispelling these myths will help you create a space that aligns with your lifestyle as well as improve its resale value.
