You already have the plans, you have your eyes on the right builder, and you have the money. You’re excited about the renovation, and that’s understandable. However, diving into a home renovation with loose ends can potentially end up disastrous.
That said, if you see any of these signs, it is highly recommended to postpone your renovation plans in the meantime.
1. You have to borrow a huge amount of money
Whether you’re planning something small like a brick stone patio installation or something as huge as a home extension, a clear sign that you’re not ready for it is if you have to borrow a boatload of money. Not only do you have to pay for the loan itself, but there’s also lender’s fees and closing costs to consider. In this case, it may be better to wait until your savings can cover a good chunk, if not all, of your renovation expenses.
2. You are too busy right now
Do you have to finish a major project at work? Are the kids on vacation and staying at home all day? Are there birthday parties, vacations, and family gatherings coming up? If there are a million other things to do at home and a million other events coming up, it’s best to postpone the home renovation at this time. Keep in mind that even if the contractor is handling the renovation itself, your presence is still essential.
3. You’re expecting another big expense
Tying your money down in a home renovation is not recommended when you are expecting to make another significant yet essential expense in the near future. Unless you already have the funds set aside for that expense, pushing through with the renovation can be cutting it close. Remember that home renovation may not always stick to the budget, and there are a lot of unexpected expenses that can pop up during and after the construction.
4. You’re not sure which builder to pick
Selecting the right builder can make or break your home renovation. Thus, if you are still having second thoughts about which builder to pick, postpone your renovation plans until you come up with a decision. Don’t be pressured to make a hasty choice just because you want to start the construction as soon as possible.
5. The weather isn’t right
Postpone construction until the rainy or winter seasons are over. Otherwise, your house could end up with leaks, insulation issues, structural damage, and electrical risks.
6. You can’t afford delays or mistakes
In any home renovation project, delays and errors are almost always inevitable. If you can’t afford the project to become delayed whether by two weeks or a whole month, wait until you have enough funds to proceed comfortably. Delays won’t always result in exorbitant additional expenses, but it’s better to be prepared either way.
On the other hand, delaying a home renovation may not be ideal if doing so will pose safety issues in your home. In any other case, these signs might mean you are better off postponing your project to secure your finances, avoid potential problems, and ensure your peace of mind.