Home improvement shows are pushing some Canadians to opt for the “reno” of their dreams instead of a project more in tune with their financial reality.
Recent surveys have found that 60 per cent of respondents who have renovated their home recently developed a budget before starting their project. However, 27 per cent of renovators spent more than they planned.
Maintaining a renovation budget can be challenging, especially when home improvement TV shows and magazines stir-up consumer appetites for the latest in home appliances and décor. Home renovators often have the best of intentions when it comes to sticking to their budget, but often the influence of renovation shows can force them into a ‘stretch’ situation, which can cause major financial headaches when the final bill is tallied.
The ability to anticipate extra costs through appropriate financial planning can reduce the stress of home renovations. Experts suggest securing financing prior to the renovation, such as a personal or homeowners? line of credit, which provides the financial cushion most home renovators require. Having a line of credit available doesn’t mean that you have to use it, but it does provide added security if you hit unexpected expenses such as re-wiring your home.
While the survey showed that 68 per cent of respondents use cash from savings or investments to pay for renovations, a lack of planning could mean financial challenges down the road. The survey also showed that 34 per cent of homeowners are borrowing to renovate.
Home Improvement Shows Could Spoil Your Whole Marriage
Attempts to emulate TV ?fantasy homes? could be turning DIY into D.I.V.O.R.C.E, according to a new study from British Gas? Web site http://house.co.uk. Over half of our DIY is now inspired by TV shows, but 80% of families admit to having had arguments over failed makeovers.
Two in three families cite disagreement over color schemes being the likeliest source of a break-up.
The research was conducted to assess consumer attitudes to DIY. http://House.co.uk features a national directory of ‘trusted tradesman’, provided by HomePro Ltd, the leading online supplier of screened trade professionals.
Calling in a tradesman could help families avoid not just a dispute, but also a massive bill. Householders spend millions fixing their DIY disasters.
Uncertainty over house prices means that 84% are taking tips from TV shows and redecorating instead of moving to another home.
Top Ten Reasons for DIY disputes:
1. Disagreeing over color schemes
2. The person doing the DIY didn?t want to do it in the first place
3. Thinking it will be as easy as it looked on a TV show
4. Jobs not being completed
5. Finding the time to do DIY
6. Mess /disruption
7. Stress
8. Costs
9. Lack of basic DIY knowledge
10. Male/female differences of opinion
Posts Tagged ‘Improvement’
A Woodworking Show Can Hurt Home Improvement
Wednesday, March 17th, 2010A Remodeling Contractor Is The Answer To Your Home Improvement Problems
Tuesday, March 9th, 2010Do you want to change your home? Thousands of people everyday think about just that. They decide that they want a change. So instead of buying a new home, they decide to remodel the one that they have.
Other people who consider remodeling have just outgrown the space that they have and need more. When you are planning a home remodeling project, it can be a very stressful time. There are so many things to consider. You can eliminate the majority of the stress of home remodeling by hiring a remodeling contractor.
A remodeling contractor is a professional trained in remodeling a room or an entire home. They have knowledge and expertise to complete the job quickly and to your satisfaction. He or she often has sub-contractors that they work with to ensure the job is done properly.
It is important that you find a remodeling contractor that you have something in common with. Finding someone who has the same tastes as you will lessen any stress that you may have. Take the time to talk to and get to know several different contractors. Tell them what your plans for the remodeling project are and listen to what they come up with. A good contractor will pick up on what you want even if you do not know how to describe it.
After you have hired a contractor for remodeling your house, he or she will design a very detailed plan for your home. The details will include estimates, introduce you to the sub-contractors that will be assisting on your remodeling project and how long the project should take to complete.
It can take a lot of pressure and stress off of you and your family to hire a remodeling contractor. When you hire a remodeling contractor, you have the final say and the contractor has the responsibility. You can ask the contractor to keep you informed of the progress that is being made and if everything is on schedule.
Contractors have a lot of contacts. You can benefit from this as the contractor may be able to get you special discounts on items you will need for your project. They may also be able to sell the accessories and fixtures that are removed from your home remodeling project.
There are many things that can affect the estimate that is given. If labor or supplies are not available, it could either delay your project or raise the estimate if the contractor has to go elsewhere for laborers or supplies.
It is crucial to your home remodeling project that you discuss everything with the remodeling contractor. Ask him or her if there are any hidden charges that will be added to the final bill. If they tell you that there are not, get it in writing.
Also, there are always hidden costs in remodeling that you need to be prepared for. However, if you have checked the references of your kitchen-remodeling contractor and have built up a rapport, you can trust him or her to do the best they can. Which means you can enjoy the remodeling experience and the finished effect!
Summary:
Remodeling you home is a big financial responsibility. Make sure that you check the references of the remodeling contractor you are hiring. Do not think that you are insulting the contractor, most are proud of the work that they do and enjoy showing it off.
Need Help Getting Started With Your Next Home Improvement? 5 Tips For a Stress Free Home Remodel
Monday, February 4th, 2008Great helpful Tips to consider for a stress free home renovation. Have fun with your remodeling process. Read these 5 tips before your next home improvement.
1. Have a Plan: Start with the end in mind (have a vision of what you want to accomplish) and do not get overwhelmed with all the details. Set a reasonable budget and an allowance for unexpected expenses on larger projects. Set a practical deadline as discussed with your contractor.
2. Get Recommendations: Talk to friends and family to see if they have any Home Improvement Contractor recommendations. Ask to see previous work (Pictures and if possible, ask to speak to previous clients). It pays to hire the professionals.
3. Do your research: Research the products you wish to add into your home and educated yourself with what type of design. When you choose the right Home Improvement Contractor, he/she will be more than happy to help in this early stage of the project. Now is the time to make critical changes to your project (look at different designs) and this will save yourself time and money.
4. Start with one project: It’s best to start in one area of your home if possible. This way your Home Improvement Contractor can finish one part of the home at a time. Unless you are undertaking a larger renovation, finish what has been started and then have your contractor move on to the next project.
5. Communication: Communicate with your Home Improvement Contractor. Set up meetings with your contractor as necessary within the critical parts of your remodel. Bring up points such as time-lines, budgets, etc. It’s your remodel; you should be entitled to know how things are going.
Most importantly, remember to have fun. Being a Home Improvement Contractor, I understand that this process is supposed to be fun for the client. Choosing different materials and shopping for products should be enjoyable and it is when you allow yourself ample time. Upgrading your home may seem like a daunting task now, but by following these 5 helpful tips, it will help with a Stress Free remodel.
Enjoy the results!
For more helpful tips and information, visit us online at http://www.travisrobertrenovations.com Visit our website to see photos of our work and to see how we helped our clients design and build their spaces, the stress free way. Feel free to contact us with any questions you may have on your next home improvement.
