Modern kitchen

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MONEY Magazine compiled four common traps homeowners should look to avoid when remodeling. Let’s take a look at their findings:

  1. Being a slave to fashion: Skip up-to-the-minute trends in favor of classic designs to avoid your home quickly seeming out-of-date.
  2. Skimping on the design: The payoff on a redo can diminish if it isn’t well-planned, so for bigger projects it might be worth it to hire an architect.
  3. Over-investing in the kitchen: Great kitchens certainly sell houses, but there’s a limit to how much you can recoup on some luxuries. Kitchens generally represent 5-15% of a home’s value, so limit your kitchen renovation budget to that amount.
  4. Counting on a big paycheck for going green: Greater energy efficiency alone hardly justifies an expensive remodel. For example, new windows may add value to your home and reduce draftiness, but don’t expect them to pay for themselves with reduced energy bills. (They generally account for only 15% of heat loss.)

If you’re interested in reading the full article, click here.