4 Questions to Consider Before Starting Major Home Renovations

Are you envisioning a significant home renovation? Maybe you’re picturing a sleek new kitchen, an open-concept living space, or that spa-like bathroom you’ve always dreamed about. However, before grabbing a sledgehammer and channeling your inner HGTV star, take a moment to evaluate your plans. Significant renovations often come with surprises, costs, and moments of second-guessing.

To ensure your project is a sound investment, ask yourself these 4 questions to consider before starting major home renovations:

1) How long do I plan to stay here?

Before you knock down walls or build that second story, think about your timeline in the home. If you plan to stay forever, go ahead and create your dream space! But if you expect to move within the next five years, it might be wiser to scale back your plans.

Spending a fortune on renovations and enduring the stress only to enjoy the upgrades briefly can feel like a waste—especially if the changes don’t significantly boost your home’s resale value.

2) Will the renovation add more value than it costs?

Don’t assume that every dollar spent on renovations will come back to you when you sell. While most improvements increase a home’s value, they often don’t generate a positive return on investment. For example, only a few projects—like replacing the garage or front doors—consistently provide a strong return on investment. These practical upgrades might not be glamorous, but they’re effective.

Whatever you decide to improve, remember that even beautiful upgrades might not significantly increase your bottom line when it’s time to sell.

3) Am I okay if the renovation doesn’t turn a profit?

Not every project needs to be about financial gain. If a renovation will enhance your quality of life and you plan to enjoy it for years, the investment can still feel worthwhile.

A home theater may not boost your property value much, but if it means countless movie nights with friends and family, the personal value can outweigh the financial. Ensure you’re content with the upgrade’s enjoyment rather than expecting it to pay off at resale.

4) Does moving make more sense?

Sometimes, buying a home that meets your needs is better than renovating. If your dream kitchen or bigger backyard costs as much as a down payment on a new home, consider house hunting instead of remodeling.

Moving can feel like a hassle, but living in a construction zone for months isn’t exactly a picnic either. Weigh the pros and cons carefully to decide which option makes the most sense for your situation.

By answering these questions to consider before starting major home renovations, you’ll approach your plans with clarity and confidence—setting yourself up for a smoother path to achieving the home of your dreams.