When it comes to home improvement, we’d all like to spend our money on attractive projects like transforming the master bath into one that belongs in a hotel suite or turning the backyard into an outdoor oasis that rivals the finest resorts, but chances are, you’ll have to spend some big bucks on unglamorous maintenance projects.
Homeowner Robyn Meslin isn’t posting pictures of her latest home improvement project on Facebook or Pinterest. After discovering her home’s previous owner had done of lot of electrical work himself, she had to call in a professional.
“The basement was pretty much a nightmare. He had finished it himself so there were open electrical boxes down there. There were switches that didn’t turn on and off anything that we could figure out,” said Meslin.
As Meslin knows, home ownership is unpredictable.
“Unfortunately, there are projects that have to be done around your house that you are never going to talk to other people about – updating wiring, replacing your roof, I mean, these are the kind of things that are required to keep your house in good condition, but they are not fun and exciting, but if you don’t do these things it’s really going to hinder the value of your home and it’s resale value,” Angie’s List founder Angie Hicks said.
Here are three unglamorous home projects you should never avoid. The first is repairing the foundation. You might crack up at the thought of spending hard–earned money to repair that slow–growing crack up the wall, but foundation issues are no joking matter. Have it checked out before it’s too late.
Removing mold is a second important home improvement project. Failure to remove mold can cause health problems. Make sure to hire a remediation company that pinpoints the source of the mold.
Updating electrical wiring is essential to maintaining a healthy home. Rewiring a home or modernizing an aging electrical system is not cheap, but you’ll sleep better knowing there’s a decreased risk of fire.
“You can’t brag out it. It’s like ‘hey, I got a new electrical panel! Woo!’ You know, so it’s much, much more fun to pick out drapes, to decide on colors, to say ‘oh, let’s put hardwood floors throughout the house,’ but really if it all burns down, what’s the point?” added Meslin.
Angie’s List says spending money on projects can be painful, especially when you don’t have an emergency fund. Financial planners recommend tucking away at least $5,000 for these types of situations. If you don’t have an emergency fund, start small. Have a portion of your paycheck automatically deposited into a savings account each month.