There has been tremendous growth in the real estate market over the last couple years. This has led to an increase in opportunities for home buyers with all types of budgets. More homes are becoming available in higher-end areas with more services. A large number of those homes are also are in less-than-stellar condition and need some degree of work. Consequently, home buyers are considering a home renovation project prior to moving in.
As the real estate market becomes more competitive for buyers, these homes are becoming a smart investment choice. One of the main advantages of these homes are that you can modify them according to your personal tastes and usually increase the value of your investment in the process. That said, we recommend that you live in your newly purchased home first before conducting any costly house improvements.
While it is okay to make minor changes such as plumbing and lighting repairs, we suggest major remodeling work be saved for a later date. Below are a few reasons why it is a good idea to keep those renovations on hold until you have properly settled into your new home.
HOME RENOVATION TIP #1: YOU MIGHT CHANGE YOUR MIND
Living in your newly purchased home before making permanent upgrades places you in a better position to make informed decisions on any changes. Even if you have visualized how you would modify your new home, you will never be able to tell for sure until you have lived in it.
Waiting provides you vital information on certain aspects that might be in your favor according to your preferences. For example, you might decide that the bathroom renovation is more important than the kitchen one, or vice-versa.
HOME RENOVATION TIP #2: TAKE A BREAK FROM THE HOME BUYING PROCESS
For many people, purchasing a home is the most important investment they will ever make in their life. So it goes without saying, that home buyers go through a stressful period when closing on homes. In many cases, you have gone through changes in your lifestyle in order to get into the home of your dreams. As such, you need ample time to recover from the financial impact associated with home buying. Home improvements are not exactly cheap or easy to complete.
It is important to consider the impact of a home renovation project so close to when you completed the purchase. You do not want to put yourself through more stress in a short period of time, if you can help it. Therefore, it is wise to wait for a short period before undertaking any home modifications or improvements.
HOME RENOVATION TIP #3: LEAVE ROOM FOR PROPER PLANNING
For a home improvement project to be successful, it requires proper planning on your part. Remodeling your home will take a lot of time as it will require consultation with contractors and other professionals.
These parties will offer you professional opinions on the many aspects involved in renovations. Enlisting the services of the best contractors ensures that you are satisfied with the end result. By giving yourself some time, you will be able to negotiate the best price versus “rushing to get it done”.
No matter which home you buy, there is some degree of work that you will have to put in afterwards. While it all boils down to your needs and wants, we recommend that you avoid making the mistake of trying to do “too much, too soon”.