Homeownership Gone Wrong: 6 Key Mistakes to Avoid

There are many pitfalls new homeowners must avoid. Today, I’ll be going over six tips to help you avoid these mistakes.

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If you’ve recently purchased a new home, there is something important I want to share with you today. I hate to say it, but there are a number of ways you can really mess up as a new homeowner. 

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Remodeling projects don’t always add value.

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Today, I’d like to go over a few tips to help you avoid these major mistakes. 

1. Don’t go with the lowest bid for repair or remodeling projects. Just because an estimate is cheap doesn’t mean it is your best option. When remodeling your home, it’s always good to ask around. Find out which professionals in your area will truly do the best job for the best deal. 
2. Be careful when submitting insurance claims. Records are kept of every claim, so be careful not to submit every little thing. Doing so could hurt you in the future if you ever plan to sell.
3. Don’t make improvements without professional advice. Remodeling projects don’t always add value. Sometimes, they can even detract from a property’s value. Speak with a professional before making any renovations. 
4. Keep a record of all renovations. When you do make changes, repairs, or updates to your home, be sure to keep your receipts. This will be important for tax purposes and also later in the event you sell your home. 
5. Make repairs before you start renovating. It is important to take care of key maintenance items before moving on to other projects. If there are any issues with the home, fix those problems first before making any additional renovations. 
6. Avoid DIY improvements. Having a professional take care of improvements and repairs will ensure that they’re done correctly. Or, if you insist on doing things yourself, make sure you at the very least enlist the guidance of a professional. I’ve seen a lot of DIY projects go wrong.

If you have any other questions, would like more information, or know anyone who needs help buying or selling a home, feel free to give me a call or send me an email. I look forward to hearing from you soon.