Some home improvements can add value to the price tag of your property when you are ready to sell. However, it is important to be careful when it comes to adding value to your home. Indeed, not all projects will deliver the boost you expect. Here is a brief overview of what can go wrong with home improvement projects and how to correct it.
You’ve only transformed the perceived value
What’s the perceived value? It is essentially an improvement that most prospective home buyers will ignore. For instance, grandiose landscaping projects may look exciting, but they rarely affect the price positively.
If you wish to invest in home improvement works that will drive the value higher and create a positive ROI, you want to focus on functional improvements.
Does it mean you can’t invest money in your home to make it more to your style? It is a tough question. Typically, if you have no intention to sell, improving the perceived value of your property can be a smart move to make your home more welcoming. If you intend to sell for a profit, it is not worth the effort.
The contractor caused damages
Sh*ts happen. Even with the best intentions, a professional could accidentally cause breakage or damage to your property. For instance, they could drop a heavy item on the floor, which could break the tiles. If you hire a builder to help with home improvement works, you want to ask first about their professional liability insurance policy. Basically, this cover is designed to compensate you, the customer, in the event of damage and even injury sustained during the process of the contractor’s work. Bear in mind that the damage cover will be considered only in the event that the worker is liable for the damage. For example, if they have specifically requested that you do not enter the site while they are working and you find yourself on the premises without their knowledge and get hurt, you are unlikely to be able to claim for damage.
Oops, it doesn’t fit
Most DIY projects suffer when it comes down to measurements. Most enthusiastic DIY artists remember to check the dimensions of their future purchases in the room. Will the bed fit in the bedroom? Yes.
Will the bed fit in the stairs or through the bedroom door? It’s an entirely different kettle of fish. Many homeowners face higher than expected costs when they belatedly realize that the dimensions of their purchase make maneuvering almost impossible. If you are reminded of the infamous Pivot episode from Friends, you probably know how tricky things can get.
Forcing a large object through the staircase or the door can lead to damage to the home decor. You may also need to swap for a smaller item, which may make your end decor feel awkward or inconsistent.
Are you ready to add value to your home through targeted improvement projects? Make sure you do not waste time and effort on projects that will not lead to the expected result. From being forced to change your plan halfway through because things won’t fit to spending money on designs that don’t create monetary value, be careful with your choices!
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