Homeowners: Beware of These 6 Costly Mistakes

There are certain, costly mistakes that all homeowners should avoid. Let’s take a look at the top six of these mistakes.

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

When it comes to homeownership, there are six costly mistakes that people tend to make.

1. Going with the lowest bid for home repairs. Of course, cost is a factor where home repairs, maintenance, or upgrades are concerned, but the main focus should actually be on value. Look at reviews, talk to the professionals you might be working with, and ask for referrals from people you know can provide credible recommendations.

2. Making improvements without checking the ROI (return on investment). I’ve discussed this subject in a previous video, but it’s important to reiterate it. When you make improvements or upgrades to your home, you should check what kind of return they will actually bring when it comes time to sell. 

3. Going on a furnishing spree. When people first purchase a home, they sometimes become overzealous in their efforts to furnish the space. They get excited and end up purchasing more furniture than the home can hold. Sometimes, less is more.

“

Cost is certainly a factor where home repairs, maintenance, or upgrades are concerned, but the main focus should actually be on value.

”

4. Throwing away receipts from work done on the home. Receipts are a record of what you’ve done to the home, so it’s important to keep track of them. If you want to sell or refinance the home, these receipts will serve as a kind of report card. Also, these receipts provide proof of work done to the home in the event that an issue arises down the line.

5. Remodeling without doing research. This point is similar to the second one I listed, but remodeling is a much bigger undertaking and therefore demands a greater degree of careful consideration.

6. Buying cheap tools. I get it, you’ve just spent a good amount of money buying a new home. But when things eventually go wrong, it will be important for you to have high-quality tools available.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.