Owning a home involves more than just finding the money for a down payment and picking a place; being a homeowner is an ongoing process that takes, time, money, and a serious sense of style to create some place you’ll be eager to come to night after night. However, when it comes to performing renovations on your home, there’s a lot of conflicting information out there. Should you upgrade your house or save the money? Is your home renovation really worth it? Before you commit to a major home renovation project, consider the pros and cons.
Pro: You’ll add value to your home
They say it takes money to make money, and that’s certainly true when it comes to renovating your home. While it can be an expensive endeavor to upgrade you living space, doing so can land you a big payoff when you’re ready to sell. Even less-costly aesthetic upgrades, like adding new countertops and cabinets or switching paint colors, can make a major difference when you put your house on the market.
Con: But not if the job is done badly
When you hire a contractor, designer, or architect, you’re putting a lot of trust into someone who may or may not be up to the task. Doing your research can help, but if the renovations are poorly executed, you may end up paying far more than you intended to have them fixed.
Pro: You can customize your living space
There are few homeowners who can honestly say they loved everything about their living space the second they walked into it. While some homes, like the luxury apartments at One Manhattan Square in New York, offer residents a choice of design schemes that can be applied before they move in, most of us are stuck working with the design remnants from our home’s previous owners.
Con: Future buyers might not share your taste
Although certain homes come outfitted with design elements that go with virtually any interior décor scheme, like the stainless steel appliances, quartz counters, and modern cabinetry in the stunning kitchens at The Emerson in Oakland, renovating to suit your own style can put off future buyers. You may think that gem-toned bathroom is stunning or that your wallpaper will never go out of style, but you might be hard-pressed to get others to see things that way when you’re trying to sell.
Pro: Renovations can be a fun project
If you’ve got a creative side that needs an outlet, renovating your home can help you scratch that itch and see your vision come to life. Over time, your ideas will be reflected in every inch of your home, making for a space that’s undeniably you.
Con: Renovations can mean a lot of stress
Renovating isn’t as easy as handing some photos from interior design magazines to your contractor and designer; the process of modifying your home can be a major endeavor. There’s dust. There’s noise. There are people coming in and out of your house for weeks or even months. Depending on how peaceful you want your home to be, renovations can majorly cramp your style.
Choosing to renovate your home isn’t a decision that should be made lightly. Before you start throwing money into a major re-do on your space, make sure you have all the important information, get recommendations from friends who’ve been there, and operate with the understanding that the process of getting your dream home isn’t always a dream itself.