Are DIY Renovations Worth It? Here’s the Verdict, According to Real Estate Agents

The endeavor of taking on a DIY home project is exciting: the weekends spent planning, the trips to The Home Depot, and the feeling of pride while admiring your own work. DIY renovations are a different story. After looking at Pinterest or reading about the latest interior design trends, it’s natural to have the urge to completely remodel your space. If you have the proper tools, what’s stopping you from taking on building a sunroom?

Most likely experience (not to mention money and time). Here’s what to consider before assigning yourself a DIY renovation project that’s out of your reach. 

What to Consider Before Putting on the Hard Hat

Taking on renovations can come down to a personal preference or self-imposed challenge, but more often than not, it’s because it’s expensive to hire someone. Before deciding to try your hand at a long-term renovation to save money, remember that professional contractors usually have a host of resources already in their possession. They have contacts to get cheaper materials and tools that make the job much more efficient and affordable. Buying your own equipment might end up costing more than hiring someone to do it for you. 

And it’s not just your money that you might be risking—it’s your (very valuable!) time. A contractor makes it their primary job to complete your remodel. You, on the other hand, have other duties, like your full time job, taking care of your family, and social engagements. You’ll likely only be able to make progress on the weekends—risking stretching out what should be a month-long project to half a year.

The experience you have with previous remodels or renovations is also important to take into account. According to a survey of BHG real estate agents, 80% reported some projects do not add significant value to a home compared to their cost, including DIY projects with subpar craftsmanship or unprofessional installation.  

Maybe this isn’t your first renovation rodeo—you’ve developed confidence in some of those medium-difficulty DIY home projects, like tiling the floor and installing drywall. Eight-five percent of agents agree that these renovations, if done properly, can provide a cost-effective way to increase a home’s value. But a beginner should understand they’re better off staying away from structural changes and sticking to cosmetic ones: painting, replacing carpet, and adding in new light fixtures, etc.

You can also share the sweat equity in a renovation to cut down on labor costs. Maybe your kitchen needs to a revamp and you have to hire a contractor to take care of replacing the cabinets. You can definitely cut down the expenses by installing the dishwasher yourself.

If these time-consuming DIY renovations don’t go as planned, it’s ultimately a waste of your money and effort. Plus, all your hard work could end up being fruitless if the project doesn’t meet the standards of a worthwhile return-of-investment renovation. When in doubt: Call a pro.