More than one third of Americans are planning to tackle a home improvement next year, according to a Liberty Mutual Insurance survey. But while many try to tackle doing it themselves, 32 percent of those homeowners fail, and end up bringing in a professional.
So, what’s the trick to a successful DIY renovation on an investment property? Fox News sat down with HGTV star, contractor and DIY-expert Chip Wade for the answers to three of our most pressing home-renovation questions, and here's what he said.
If we focus on just one aspect of the renovation, what should it be?
“The biggest thing you can do if you have a renovation coming up is to prepare. The plan I oftentimes call the 'master plan.'” Sounds simple right? But wade warns that homeowners often don’t think of the bigger picture before renovating. “People do one space, stop [to] save money the next year, and do another space without ever having connectivity between the mentality of what’s happening from one space to the next.”
Why would that matter?
“It’s an amazing marketing asset to cast a vision for a future buyer looking to buy your property,” says Wade. It’s all about the "sell-appeal," he says.
What home upgrades should you invest in?
This year, there looks to be close to 130 million smart home products sold. From smart thermostats, locks, video cameras, connected home tech is here to stay — it’s not just a fad. Investing in smart home technology is a good move in the long run. “It can actually save you money as well,” says Wade. “Now is the time where it breaks in to the category of a non-novelty to a real asset.”
Be sure to watch Wade’s full interview above for more advice, along with more insight into the current housing market.