by
Dusty Rhodes
| Jan 03, 2023
As the new year approaches you may be thinking that this is finally the year you are going to remodel your home. After all, you love your location but your home needs some upgrades. However, what happens when that dream remodel turns into more of a nightmare? Every renovation begins with optimistic homeowners dreaming about living in a glorious new space. Unfortunately, however, there are times when you may benefit from more of a complete overhaul rather than a renovation. It may even be better to put that sign in the yard. Here are a few signs that you might be in over your head remodeling your house.
1.The home has faulty foundation or major structural issues.
This is one of the biggest red flags to look out for before remodeling your home. Foundation and structural repairs could cost you thousands of dollars, taking over your entire budget. Better yet, there are times when these issues are simply beyond repair. If you notice cracks in your walls or ceilings, or buckling in your foundation, these might be signs you have some serious issues going on. If you aren’t sure, it is always a good idea to have a professional inspector or contractor take a very good look at your home before planning a renovation. They may be able to spot problems with your home’s structure, moisture or mold problems, or other extensive damage that you may have overlooked. Depending on the issues, there may be times when it is better to completely rebuild instead of simply renovating the space.
2. Your renovations will cost more than your home is worth.
There are a lot of things to consider when renovating your home, and among the most important is the amount you plan to spend compared to the value of your home. If you live in a premiere location with higher property values, you may be just fine spending several thousand dollars renovating your home to increase its value. On the flip side, if you are planning to spend more than the home is worth, you may want to reconsider. You can easily find out what other homes in your neighborhood are selling for by checking your local property assessment website. You may also want to have a professional appraiser come out and appraise your home’s value. This will give you a better idea of whether or not your renovation will be a wise investment.
3. There are local restrictions regarding renovations.
You always want to check with local HOA’s and government agencies prior to renovating your home. There may be height, width, and length restrictions regarding additions to your home. If these restrictions do not allow you to renovate according to your desired layout, you may be better off selling your home and buying a new one. You have to make sure your renovations are up to code and follow all local requirements so if your plans do not align with local guidelines, you may want to reconsider your renovation.