With so many people quarantining at home right now, there are a lot of people thinking of taking care of those DIY home renovation projects that have been sitting on the back-burner for months (or even years!) waiting for the right time. But before you go online and start ordering tile and grout or hardwood flooring, let’s take a look at some of the risks of doing renovation work yourself.
Your Renovation Budget
- Too many people underestimate the total cost of their renovation project
- There are many unseen materials to be accounted for with any project, large or small (painting is not just the cost of the paint and a bathroom renovation is not just the cost of the tile, vanity and mirror)
- Too few people remember to include a “buffer” or “miscellaneous” line in their budget; this is to account for unforseen circumstances or changes you make along the way
If you don’t properly create a budget for your renovation you run the risk of running out of money before the project is complete, which means you’ll likely spend more than you can afford, or not finish the project until you can afford to.
Underestimating the Time Your Project Will Take
- People tend to overestimate they time they have available to work on a project
- People also tend to underestimate the amount of time a project will take
- If a project goes on too long, you can get discouraged and frustrated at the mess and disruption to your household
If you don’t correctly anticipate how much time a project will take, you run the risk of either rushing the last part of the project or letting it trail off and remain 90% complete in perpetuity!
Materials Ordering and Taking Measurements
- “Measure twice, cut once” is a handy saying carpenters have. Many people are not adept at calculating exactly how much of a particular material they need and often end up on the side of not having enough
- Considering the timing of ordering certain materials and pieces is also important; for example, a custom countertop can take several weeks to arrive after it’s been ordered
If you don’t accurately order materials or consider the timing for deliveries and custom pieces, you run the risk of having too many materials piled up in your space that you aren’t ready to use, or having long gaps of time where you can’t work on the project at all while you wait for something to be made or delivered.
While some home renovation projects are manageable and would cause little stress, financial hardship or frustration to complete, a lot of projects are bigger than they first appear. Setting realistic expectations for what you can manage and what should be better left to a professional can ultimately save you time, money, and mental stress. Ask yourself if you fully understand the scope of the project, all the materials required, and have experience doing the work for your specific project. As with all risks, you have to ask yourself, “Is it worth it?”
