Fixing up your place? Awesome! Just watch out; things can get pricey fast if you’re not careful. Little slip-ups during renovations can lead to big money problems.
Here are some common reno mistakes that can really hurt your wallet, plus how to dodge them.
1. No Budget = Big Trouble
Mistake: Jumping in without a spending plan.
Problem: You run out of money before finishing.
Fix:
- Set a budget from the start.
- Keep 10–20% extra for surprises.
2. Skip Permits, Pay the Price
Mistake: Not getting the necessary permits to save time or money.
Problem: Fines or needing to tear down your work, especially when selling.
Fix:
- Check with your local council for permission on major changes.
3. Bad Hire = More Problems
Mistake: Picking the cheapest or first worker you see.
Problem: Poor work, delays, or disappearing with your cash.
Fix:
- Get referrals and check past work.
- Verify licenses and insurance.
4. Can’t Make Up Your Mind? $$
Mistake: Changing designs mid-project.
Problem: Costs and delays pile up.
Fix:
- Decide before starting.
- Stick to the plan unless absolutely necessary.
5. Cheap Materials = Costly Later
Mistake: Buying the cheapest stuff.
Problem: It breaks or wears out quickly, forcing you to replace it sooner.
Fix:
- Buy quality materials.
- Saves money in the long run.
6. Skip the Trends
Mistake: Following fads too closely.
Problem: It looks dated fast, affecting resale value.
Fix:
- Go for classic, timeless designs.
7. DIY Disasters
Mistake: Doing everything yourself to save.
Problem: Costly errors or injuries.
Fix:
- Do simple stuff like painting.
- Hire pros for plumbing and wiring.
8. Storage Matters!
Mistake: Focusing on looks over usefulness.
Problem: Pretty spaces with no storage.
Fix:
- Make sure your renovation is both pretty and practical.
9. Update Insurance!
Mistake: Forgetting to tell your insurer.
Problem: They might not pay for damages.
Fix:
- Inform them before starting.
- Ask about added coverage.
10. No End in Sight
Mistake: Starting without a deadline.
Problem: Projects drag on, costing more in labor, materials, and rent.
Fix:
- Agree on start and end dates with workers.
- Check progress often.
The Takeaway
Home renovations are exciting, but bad planning costs a lot. Plan carefully and dodge these mistakes to save money and headaches.
