subject: Pros And Cons To Home Improvements [print this page] Serious consideration should be taken when deciding to carry out any home improvements. You must ensure you have all the relevant permissions, plans & the funds to complete as uncompleted renovations can have a dramatic negative effect on the value of the property. You must also ensure any radical changes to your property, such as knocking down structural walls to make two in to one, will not de value the property. Consideration has to be given to what happens if the property will be sold on at a later date and is it what other people want?
So your home improvement plans after the above consideration have been thought through and all pros and cons have been given due consideration it is time to put your plan in to action. Are you capable of carrying out the work your self or will you give the work out to tender? If so word of mouth is the best recommendation and the right way to go as it is from people who have had experience from this particular contractor.
You should always get minimum three quotes so you have a good idea whether you are getting value for money. Particular attention should be given to what is included in the quotes, materials, labour and time schedule. Ensure you are aware of the consequences if the work goes over the finish date and if any penalties are expected. What if the quote goes over budget who pays you or the contractor?
Due consideration needs to be given for the un known as either you or the contractor can know what lies beneath plaster or the floor boards so the norm is to have a 20 to 30 % contingency amount. This will be a reserve fund for those nasty surprises that will always come as a surprise to you all. Also remember that when you see your renovation or remodel takes shape visually and not on paper the reality can be some what different and you may wish to make some changes. This will have a cost implication and affect the time schedule so changes to the contract may have to be done.
Considerations to be taken if you decide to carry out the work yourself are: are you capable, do you have the time, will your work be to a standard where the value of the property will not be compromised and most importantly do you have the funds to take time of work and carry out the home improvements at the same time. You also need to check about local law and building standards to ensure you comply. In some areas a building inspector may have to sign off certain parts of the build like plumbing and electrics.
So to summarise check you have the knowledge to carry out the work and if you are mortgaged ensure you are not breaking your mortgage contract as this would have very serious consequences in the future. Think twice act once following all the right steps will save time and money in the long run, good luck.
