"Extreme Makeovers" choosing to rennovate your home would be akin to winning the lottery. I had never considered that such luck might be a double-edged sword, until I read an article featured in the Florida Times-Union.
"The Harveys were on 'Extreme Makeover' in March 2005. The family was sent on a vacation to Niagara Falls as its termite-infested 1930s house, which was previously an Army barracks, was demolished and rebuilt by contractors, plumbers and others from the Northeast Florida Builders Association's nonprofit Builders Care group.As a result, utilities for the home jumped from $60/month to $400/month, and property taxes were hiked from $500 to $5,200 after the makeover. Ouch. The homeowners are behind on their mortgage payments and the house will be auctioned off after being foreclosed.
"The family went from a 1,300-square-foot home to a 4,300-square-foot home. The home is noticeably bigger than any other home on East Street."
The lesson I took away from this? Be careful what you wish for, or you might just get it.