Deciding to renovate your home is a huge decision, and can be an expensive one depending on the form of renovation to be done. As with many parts of society, home renovations can generally be separated into the ones that we need, and those that we want. They are slightly, almost imperceptibly, different – and one definition is generally much more important compared to other for the design when contemplating how you can spend their hard-earned renovation budget.
We quite often imagine a home renovation as something which brightens up our living area, gives us more room, or makes us more comfortable. Consider an addition, or a fresh coat of paint, or perhaps a new bathroom. These renovations fall squarely into definition number two. They may be restoring life to our own home, and also have the ‘wow’ factor which we love to talk about with the family and friends. These renovations also tend to increase the value of the cost of a home, and folks will talk about the return that accompanies them i.e. what the price of the renovation is compared to the boost in price if the house were to be sold.
However, there is sometimes a a lot more important home renovation that need considering, which, unfortunately, falls into definition number one. It will be the maintenance renovation, the “restore to your former better state” renovation, the boring renovation – and the ratio of financial cost to “wow” factor absolutely stinks. This type of renovation includes things such as a new roof, foundation repairs, pointing, insulation, and wiring – normally renovations you can’t see – and tend to be the top priority for any home owner, whatever situation these are in.
Consider the case where design is happy within their home and they wish to stay there to increase a family – they love the community spirit from the neighbourhood, it’s close to work, there are ample facilities nearby. What exactly is more important long term? Stopping the basement from leaking, or acquiring a new kitchen? The answer needs to be obvious obviously – renovating (restoring to your former better state) the basement is not merely a necessary preventative measure from potentially significant harm to your house, but is another requirement for peace of mind.
What about when the home-owner is selling their house? It is well known that the new kitchen has the best return on investment and may boost the need for a home significantly. It might be tempting to renovate this little profit maker first to get additional money and also to make the house more appealing, there is however a downfall – if there are any outstanding structural or major maintenance issues, the potential buyer, should they have any good sense, will discover them if they have a structural survey performed. Based on what the problem is, there might be among several outcomes: a request for a decrease in price, a request the work to get completed and re-inspected in the homeowner’s expense, or, as is also quite often the situation, a permanent retraction of the offer. It’s a difficult pill to swallow for your seller, because typically a realtor’s price evaluation with their house has not taken into account the expense of this additional work, nevertheless with the job done, there appears to be no benefit when it comes to enhancing the house value. Actually, obviously, there is – it’s just that the evaluation was too high in the first place.
Nevertheless, there will always be house buyers who will not do the proper ground work, and so the required maintenance renovations are missed when the property is purchased. The seller, if they knew about the issue (as they often do), has g.ambled and “gotten away with one”, and the buyer has foolishly adopted someone else’s problems in the interests of the cost of a structural survey. A note to potential buyers: always, always, get a full structural survey done except if you are an expert yourself in these matters because the short-term additional cost will likely be far less painful than finding significant issues and dealing with the associated heart-ache (and anger) following the purchase is finished.
So how does the typical homeowner determine there are maintenance renovations that need attention? There are some ways to learn, and sticking your mind inside the sand will not be an alternative. That could be similar to not getting a regular check-up on the doctor or dentist – if no-one tells you there’s a problem, there is no issue, right? Wrong.
The first thing to do is to call upon your gut instinct. You almost certainly use a suspicion when the electrics may be an issue (there’s a spark when you plug appliances in, for instance), or if there’s damp within the basement, or if the attic insulation is insufficient; after all, you’re the one who lives there. Take a peek round the outside the house for any signs of worsening damage – are cracks bigger than you remember them? Does the roof look patchy? Do you possess a powerful water management system – one which drains run-off water from the house foundations?
Back this up by pulling the home inspection you had done when you initially bought the house and groing through it again (after you’ve blown off of the dust). Compose a list from the possible issues and prioritize them into the ones that are urgently needed and people it is possible to accept. An extremely basic risk assessment would look at each item and provide it a score of high, medium or low for that two classes of likelihood and consequence. The ones that come out high-high, high-medium or medium-high are definitely the most urgent and really should be handled first.
The next step is to ensure your suspicions. It might be that you don’t should do this if the problem is obvious – for example, if each time it rains you do have a bath since the bath fills up from a leak in the ceiling, (a high-high issue in many people’s books), a telephone call to your roofer sooner rather than later would be to be able. On the contrary, there might be issues that you are unsure of like visible cracks within the brickwork possibly because of a sinking foundation. This would rate within the medium-high category where the likelihood is unknown but has some supporting evidence (the cracks), as well as the consequence is financially significant (your house falling down). In a case similar to this, or whatever your case may be what your location is puzzled by the reason for an effect, it’s time and energy to check with others. You could consider speaking with family or friends who may have had similar issues, but this is likely to leave more doubt as people’s natural reaction is always to guess and err on the negative side. It is much better to speak to a professional in the field you might be focused on – if it’s the rooftop, speak with a roofer; the brickwork, speak to a stonemason; an electric issue, an electrician. Go about the procedure just like you were intending to get hold the work done (you may well must) – get three quotes and thus three separate opinions, and get plenty of questions. It may end up that lqbott cracks inside the brickwork are merely superficial and turn into a high-low case, which is, the cracks are certainly there, and can cause no further problems. The reduced significance cases, regardless of the likelihood, are typically aesthetic and can be resolved at any future time you desire. In terms of low likelihood cases, they need to, generally, not reach your list.
A note regarding the risk assessment: if there is an effect you might be observing you will have to think about each of the possible causes and rate them accordingly. For example, a stain on the ceiling might be due a leaky roof, however it may be due to a leaky pipe. Be sensible though (you have to stop somewhere) – it could also be spilled tea from the squirrel tea party, however it is quite unlikely.
When it ends up that there exists a significant issue, don’t panic. Focus on a plan as well as a time-frame to obtain it done. Speak with the renovations you choose to determine whether the circumstance is extremely urgent or could be sat on for a couple of months or perhaps a year roughly. Understand that the cash you might be spending is buying you peace of mind and helping you save long-term financial heartache, and realize that there’s always time to have your gâteau once you’re certain you’re breathing properly.