Pros and Cons of Refurbishing your home
To own a first home is an exciting phase and you will always give in your full efforts in building and decorating the house. But when it comes to re-modelling, is it worth for for re modelling the house or is it good to spend in extra bucks and buy a second home. Buying a new home is an exciting prospect, especially if it is your first home. Regardless of what you like to do, it is always good to understand the advantages and disadvantages for everything to take an informed decision. Let us see the pros and cons of re-furbishing your first home.
Pros of refurbishing your home
Design from mistakes
As this is your home where you have lived in the past years, you not only have experience you have enough knowledge of pros and cons of the space what you have. And with that knowledge, you can refurbish it better than last time. You can start from room to room and check your designs. Plan efficiently and o it on your own. Let us see some examples where it is remodeling was successful for few ideas.
Take advantage of existing Designs
If properly planned, it can be you can reuse the things in the home effective to reduce your cost as well. Let us see few examples to reuse the same things to elevated design approach for refurbishment.
Increase your home’s value
The value of your home increases after the refurbishment is done. Especially, these external renovations adds values while selling the property in turn giving you a good ROI.
Plan on a budget
You can plan your budget and work according to your budget. If properly planned, it can be you can reuse the things in the home effective to reduce your cost as well. You can decide to dwell upon the budget
Sense of accomplishment
When you remodel your own home, you have a sense of accomplishment and that can never go away. As that is your first home, you always are slightly connected with your home emotionally, and taking it to your own hands to refurbish your home can give you a emotional connect as well. Sometimes, even the simplest of modifications can improve your life significantly and consider this an opportunity to reinvent yourself along with the home.
Now that we have spoken about pros, well, there are cons as well and they are here!
Cons of refurbishing your home
Beware – Under-construction Zone
If you are planning to stay in the same home while remodeling, assume you go one room at a time, you might be stuck on a under construction building for a long time and that might a feel of frustration. Beware of that while planning.
Two rents at same time
In case, you are planning to rent a place until the remodeling is done, in such case, you might be paying rents twice. You own a property but still you must play rent as well. This might be challenging and needs to cater to budget.
Budget might be little more than you had planned
This is a common scenario during a renovation: you obtain quotes and sign off on the work but most of the times, you may overrun the budget because there might be ad-hoc changes. This is not only applicable for new homes, but also for remodeling home.
Timing of the re-modelling project
The timing of the project is an interesting factor to cater upon as most of the cases, it is going to overrun your estimated time and that will in-turn affect your budget as well.
What do you think about re-modelling your house? What are your opinions, we are happy to hear them!
