Fueled by YouTube videos and the promise of cost savings, it can feel tempting to do your own home remodel. But is it really worth the risk? This article lays out some pros and cons of diy home remodel so you can decide for yourself.
Do-It-Yourself projects can be fun and educational, and there’s nothing like the satisfaction of seeing your work come to life in front of you. But there are also hidden costs to consider. For example, if you’re working on something electrical or plumbing-related, you may need to get a permit and hire a licensed professional to ensure the project is safe. These costs can add up quickly, especially if you’re not careful.
You can save money by choosing materials that are more readily available to the general public, rather than those custom-designed for your specific renovation. For instance, using plywood that comes in 10-foot sheets can save you time and money compared to building something from scratch, says This Old House plumbing and heating expert Richard Trethewey. You can also save by purchasing stock windows and doors that are cheaper than custom options, but still offer the functionality you need.
Another way that a DIY home remodel can turn into a money pit is when you underestimate the scope of work or the amount of time the project will take. If you’re planning a weekend project to spruce up the living room, for example, it might end up taking the whole week or dipping into your vacation time. Similarly, an overestimation of your own skills or the tools you have on hand can lead to overspending on your budget and potentially damaging your property.
If you’re tackling a structural change, make sure to consult an architect or engineer early in your planning process to help guide you through current trends, upgrades, and structural needs. This step can prevent costly changes mid-project or unexpected problems down the road, and it can also save you a lot of time and hassle by helping you avoid expensive mistakes.
Depending on the extent of your renovation, you might also need to upgrade your home’s systems. For example, rewiring an entire house can cost $4,000-$20,000, and replacing your old water heater might be in the $8,000-$15,000 range.
One of the most common reasons for homeowners to renovate is to increase resale value, and updating your kitchen or bathroom are the best ways to do that. But you should check with your local government to see if there are any requirements for these types of projects, like permits or inspections.
DIY home remodeling can be a great way to learn new skills, and there are plenty of resources online that can teach you everything from how to frame a wall to installing a backsplash. However, if you’re short on time and would have to sacrifice other responsibilities in order to tackle the project, it might be more cost-effective to hire a pro.