High-end renovations are often big undertakings with an equally big reveal waiting at the end. They can make a new luxury purchase truly feel like home or give a property a major edge on the luxury market. Unfortunately, many homeowners fall victim to these common mistakes:
Not choosing a contractor who understands your aesthetic. High-end properties have many styles, from rustic to modern and anything in between. When looking at doing a major overhaul, be sure you choose a contractor who has experience renovating a home comparable to yours in size and style. A contractor who works with luxury condos may not have the expertise required to outfit your Georgian Revival property, for example.
Having an unrealistic timeline. Television has convinced us all that a large-scale renovation can be done in a couple of months, or even a couple of weeks. In reality, especially with a luxury home, that doesn’t always happen. Keep in mind that unexpected items will almost always pop up and leave some wiggle room in your timeline. After all, if there’s one thing you don’t want to rush, it’s a luxury renovation.
Prioritizing finishes over function. While it’s true that luxury buyers often prioritize aesthetics, in reality, they care just as much about function and durability in a home as any other buyer. When choosing features and finishes, make sure they don’t come at the price of practicality.
Not evaluating other homes in the area. Don’t get too wrapped up in your own home’s improvements. You can learn a lot about what features other homes have, as well as the current market value. For example, if homes are selling at a certain price point because of a certain feature that you don’t have, maybe it’s time to re-evaluate your reno.
