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Crazy Money – Remodel

It’s Crazy Money Day!

Years ago, someone in Las Vegas spent nearly $20 million remodeling a home on the golf course. Apparently, no expenses were spared, as evidenced by a $42,000 chandelier. In 2015, it went on the market for 22 million. Last year, it ended up in a closed auction selling for $5.6 million. What a loss! Years ago, I worked in the housing industry.  To this day, Ann and I enjoy attending open houses and seeing the homes that come on the market. We sometimes watch home remodeling shows where we see beautiful ideas put into action. When studying new listings, we occasionally run across pictures that cause us to ask: “What were these people thinking?”

If you’ve ever taken on a home remodel, you know that inevitably, the unexpected arises. Whether finding water damage, termites or forgetting to include the cost of permits or demolition, most people aren’t prepared for surprise expenses. That’s why it’s always important to budget in extra money for any remodel. Here are a few tips I’ve learned through the years. If you have the time, experience, and organizational skills, consider being the general contractor. Find dependable subs through word of mouth. Do your homework before you start and be willing to invest some sweat equity. Increase the efficiency of your home without the cost of expanding it. Don’t improve your home more than your neighbors. You might not get your money out if you decide to sell. Steward wisely and remember we’re just passing through. God’s preparing a place for us that will never need remodeled.

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