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Now that you finally bought the house of your dreams, you just can’t contain the excitement of settling in. Though you loved it upon first sight, there are just so many plans to make it look like how you desire it to be. You want to start getting those renovations going as soon as possible because it’s one of your greatest investments. Thus, personalizing it just seems to be a practical move on your list. However, experts in the real estate industry suggest putting off the idea of home improvements or renovations until much later. Here are some of the reasons why.
More ideas will come the longer you stay.
When you stay at your new home first before the renovation, you will get a feel of the house as is. As days go by, you might realize there are certain areas that don’t need renovating contrary to your initial plan or it could be the other way around. Or while waiting, you saw a particular theme on TV, on a magazine, or even from a friend’s house that you’d like to adopt in your own home.
Spending a couple of months to a year will allow you to think about your renovating plans and see which of them will add more convenience and comfort to you and your family in the long haul. It will also give you time to take a breather from all the moving-in preparations and make sure you are settling in just fine.
All the clutter and hassle of new renovations are stressful.
Since you just moved in, it will take time to unpack all the items for your new home. You will be unpacking the things you will use most of the time first. If there are ongoing renovations, this means more dust, more dirt, and more mess equivalent to more cleanup around the house. Give yourself and your family a break first from all the stress of moving in and make sure everyone has fully adjusted to their new surroundings. It will also be difficult to schedule everything such as meeting the contractors especially if you have a full-time day job, you have young children, and you’re still getting your way around the new neighborhood.
The more time you think over your renovation plans, the well-prepared you will be.
To make sure everything in your renovation plan will work out smoothly, it will require careful planning way ahead of the schedule. For one, consulting with contractors and engineers about your ideas can take up at least an hour. As you discuss your plans with them, more new ideas and suggestions will come up, which can make you reconsider your original project. Renovation planning would then need longer time on your end to brainstorm the new ideas for the final output to come out perfectly.
You can save more for an even better renovation plan.
Renovations will create an additional strain on your finances. In cases where somewhere during the renovation period you aren’t satisfied with the result, it will be additional costs on your end to have that particular portion re-made. When you extend the timeline for your renovation project, you can adjust the budget accordingly making sure you have enough funds to keep the project going regardless if priorities shifted or there were necessary repairs needed. You also need to consider that you might buy new pieces of furniture or discover decoration ideas that you would like to incorporate in your new home, which might affect your initial plan for renovations.
Priorities can change.
Buying a new home is already a major dent on your finances. An emergency situation may happen wherein you would need more money and it’s just unsightly to see renovation work in your home put on hold. Some of the priorities that can take precedence over your renovation plans are your child’s educational expenses, an unexpected illness or accident, and the death of a loved one. These are circumstances that can happen any time and if you’re caught unprepared, the renovation will have to be cut short until you have recovered financially. What if it’s a major section of the house that you renovated? The circumstance might force you to avail a loan just so the renovation will be completed as soon as possible and avoid all the hassle and inconvenience.
Minor repairs can be done prior to moving in if there are necessary fixes required. But as much as possible, take the time to enjoy your new home first. This way, you will avoid the possibility of home upgrades that will cost much but are really unnecessary in the end.
SOURCES: Business Insider, Leighton Realty, Forbes, Bank Rate
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