5 Renovation Mistakes to Avoid in 2021 Event

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5 Renovation Mistakes to Avoid in 2021

Many of us were happy to see the year 2020 go as it was a year fraught with difficulty thanks to the pandemic that we are all tired of hearing about. But the change of calendar didn’t end the pandemic – and while there is now hope in sight with the roll out of vaccines, it could be some time before things are back to normal. It looks like most of us will still be spending quite a bit of time at home this year, and as such many are thinking about making some home renovations.

Doing some renovations around the home can be a great way to upgrade your space and maybe even give your spirit a bit of a boost while you’re at it. But there can also be pitfalls if you’re not careful.

Here are 5 renovation mistakes to avoid in 2021.

1. Setting an unrealistic budget.

It is natural to want to get a lot done at a low price, but when you set your budget too low, the result will either be low quality workmanship that you might have to fix down the road anyway or you’ll run out of money part way through the project and things will be left unfinished.

No contractor is going to be able to give you a $20,000 renovation for $10,000 – and if you find one who says he can, you are best to avoid them. Besides that, you want to make sure you have some room in your budget for the unexpected. There may be trouble lurking behind the walls that you are unaware of and may need to repair before you complete your renovation.

2. Not knowing when to call in the pros.

Doing some of the work yourself is likely to save you some money provided that you have the skill and expertise to complete the task. But other jobs such as electrical work, plumbing, roofing etc. are best left to the pros. Unless you are a licensed tradesperson in these tasks, they should not be DIY.

3. Choosing style over substance.

Picture your completed renovation. You can probably imagine your friends and family complimenting your new granite countertops and hardwood flooring. It’s much more difficult to imagine them complimenting your upgrade in insulation or shiny new sump pump.

But these “invisible” upgrades to your home can be just as important – if not more important – to the upgrades that you can see – because they can be vital in helping to protect the health, safety, and efficiency of your home.

4. Forgetting about permits.

Failing to get the necessary permits for your home renovation could lead to your municipality ordering delays or issuing fines. They could even order that work that’s already been done be reversed. You may deal with the permits yourself or you can let your contractor handle them – either way though, you need to make sure they are in place before commencing with your home renovation.

5. Ignoring your insurance.

Finally, remember it is imperative to contact your insurance broker. Failure to do so might void your insurance coverage altogether as a home under renovations is at a higher risk of loss. It is also important to make sure that your contractors are adequately insured, it is common practice to ask them for a certificate of insurance prior to starting work on your home. 

Other renovations such as putting on an addition or adding a pool may increase your home’s value or risk of liability so your premiums will go up to give you the additional coverage that you will need.

If you have home renovations planned for 2021, contact us today to learn how those renovations will affect your home insurance policy and premiums.