Before you start on your home renovations, there are some things you should know to ensure that your project comes to life. Here are some myths and facts to consider as you work towards making your dream home a reality.
1. You Can Save Money by Doing It Yourself
DIY projects are always fun, but there is a limit to what you can do. Construction projects require skilled workers, and trying to do it yourself may cost you extra money and time. If possible, consult with a contractor to determine the scope of work and decide whether you’ll need a professional.
2. The Cheapest Contractor Is the One with the Lowest Price
Take some time to research and get quotations from 2-3 contractors before settling on the cheapest one. In most cases, a more affordable contractor has fewer years of experience, which may result in a poor job that will cost you more in the long-term.
3. I Don’t Need a Permit for My Renovation
You won’t need a permit if you’re doing a simple paint job, installing flooring or carpeting, or adding a few cabinets in the bathroom or kitchen. However, you’ll need approval from the city and a construction permit if you do anything involving demolition, plumbing, or electrical wiring
4. I Don’t Need a General Contractor; I Can Hire Each Trade and Save Money
If you want your project to be properly executed and completed on time, you need a professional general contractor to coordinate everything. Trying to coordinate everything yourself after hiring people for different jobs will lead to delays, and the work may not be in line with building code
5. I Could Do Any Type of Renovation in My Home
The type of renovation you want to do on your home may be subject to approval, especially if you live in a building or a community led by board members or a Homeowners Association.
1. The Price Gap Between Renovated and Unrenovated Homes is Increasing
Renovated homes are in high demand now more than ever. The type of renovation can even double the value in markets like NYC Real Estate.
2. Kitchen Renovations Yield the Biggest Returns
If you’re working with a limited budget, prioritize rooms that will increase the home value significantly, like the kitchen
3. NYC Homes Are 90 Years Old, On Average
The median age of NYC homes is 90 years which explains the rise in renovations. It’s always hard to determine how long these renovations will take because you don’t know what you’ll find inside the walls. Delays and additional costs are expected due to unforeseen situations, as any code violations need to be corrected for safety.
4. Construction Schedules or Timelines Are Not Set in Stone
It’s common for unexpected situations to occur during renovations causing delays. The initial schedule should be considered the best-case scenario, but there should always be room for additional time in case of these delays.
5. Order Your Appliances On Time
If appliances are not ordered on time, they can delay the project’s end date. Remember that appliances can take up to 10 months to get from the time you order.
Keeping these myths and facts in mind will make the process smoother as you know what to expect before you start your home renovation project. It can also save you money, which is a major plus.