Home Renovations & the “I’ll-do-it-later” Philosophy …
Actual Client Renovation
Listen, I get it. You just spent a lot of money to buy a new home. You want to make some improvements, and you have some money set aside, but as you start getting bids and opinions, you’re realizing that your initial budget may have been a little light when it comes to creating the finished product you desire.
Sure, there are ways to cut back by using different – but still fantastic – materials; there are options to receive more than one quote or to use buying power to your advantage. So should you forge on with the renovations you had in mind, or do a portion & finish the rest later?
Almost resoundingly, if you have the funds or can create the funds (through a loan, gift or otherwise), my advice is DO IT NOW.
One of the comments I hear most from renovation clients after the process – besides how much they love their new kitchen, open concept living room or addition – is that they wish they would have just done the additional X,Y,Z that was in the initial plan. This could have been knocking out an additional wall, doing a small addition to really open a room, or finishing off the master bathroom and walk in closets. Once you go through the (worthwhile) pain of a renovation, most people aren’t eager to do it anytime soon. And, like everything else in life, future renovations will come at a cost higher than they do today – sometimes by leaps and bounds like we saw between 2021 and 2024. Back in 2021, a kitchen remodel of a luxury level with the bells and whistles and premium finishes, was around $75k+. Now, most custom renovation companies will quote $150k-200k due to labor and inflation.
The bottom line? You don’t need to gut your entire home to create your dream vision. But do look at your home as a whole and decide which projects are your priorities. If you can finance, save or pay for these items, the pain will be less now and the joy far greater for you. And I’m always here to help guide and act as a sounding board. Trust me – and my clients! – when I saw that you will look back and be glad you did it.
