Helping to get your seller clients’ homes in their best condition before listing is an obvious and crucial aspect of your value prop. But it’s not always easy to figure out what to do, how to do it and who to do it. Jon Grishpul, co-CEO of GreatBuildz.com, a free service that matches homeowners with pre-screened general contractors, points out four home renovation myths and realities.
Myth: Every remodel increases a home’s value significantly.
Reality: Over-improving for the neighborhood or choosing highly personalized (rather than broadly appealing) designs can lead to a lower ROI. Focus on functional and safe upgrades, especially in high-traffic areas like kitchens and bathrooms.
Myth: DIY will always save the owner a lot of money.
Reality: While labor costs are saved, DIY often underestimates the cost of tools, the time commitment and the potential for costly mistakes. Complex projects are usually more cost-effective and safer with professionals, who will almost always do the work better,
Myth: The cheapest quote is the best deal.
Reality: Inexperienced or unlicensed contractors often underbid, leading to poor quality work, hidden costs and the need for expensive repairs down the line. A quote that seems too good to be true usually is. You usually get what you pay for.
Myth: Renovations finish on time and on budget if planned well.
Reality: Unexpected issues (e.g., discovering mold or structural problems behind walls), material delays and last-minute changes can significantly impact timelines and budgets. Contingency planning is crucial, because it will likely be needed.
