Fixer-upper Downer: Why HGTV renovation shows are leaving families with mountains of debt
LOS ANGELES, CALIFORNIA: HGTV renovation shows, such as 'Don't Hate Your House with the Property Brothers', give off this picture of home renovations being all so easy and profitable. However, most families end up in debt after following through with the glorified versions of home improvement that these shows present.
One of the major problems is the expectations of costs established by these shows. This develops an illusion that houses regularly increase in value beyond the renovation costs, an occurrence that may leave viewers with unrealistic expectations of the same happening in reality. In fact, most homeowners will not break even with renovation expenses, let alone profit from them. In addition, their budget is usually too inadequate in accommodating the eventuality of such renovation shows. The financial pressures and stresses from families may arise due to the underestimation of such renovation costs in materials, labor, and permits involved.
Another factor relates to dependence on free labor and discounted materials. Most popular renovation shows are made with sponsorship and in collaboration with contractors who provide their services for free. That may lead audiences to think they will be able to do the same thing when, in fact, they would have to pay full price if this were the real world. The other thing is that this type of show often promotes a DIY culture that can be very misleading at times.
Many viewers who get inspired by such programs take up renovation projects themselves, sans the necessary skills or experience. Many such attempts tend to go horribly wrong and result in costly mistakes that continue driving up expenses. The pressure for renovation is one of the major factors that have contributed highly to families falling into debt.
Shows do keep emphasizing that they must make huge renovations to sell a house or increase its value. House owners may plunge themselves into hasty decisions on renovations without being prepared to handle the impact financially in the long term due to the fear of losing big profits. More precisely, renovation costs are usually undercut by the true costs of television. In most cases, hidden areas come up during the project, such as mold, structural damage, or outdated wiring. These unplanned areas can be grossly costly, and most of them are never presented on the screen.
Finally, there are the hard facts of the housing market itself. Markets differ greatly on the local level; what works well for one neighborhood or area may not necessarily pertain to another. The HGTV renovation shows will entertain and inspire, but they rarely provide a realistic look at how renovations really occur. The families enticed into such TV shows often suffer financial burdens trying to redo what they have viewed on the screen.
Thorough research, realistic budgets, and a consideration of the local real estate market will become very important for every homeowner with plans for renovation projects, thus enabling them to avoid falling into debt. When understood, true costs and potential risks push the renovations from being a financial burden to a very rewarding experience.
Do people pay to be on HGTV’s renovation shows?
Usually, when individuals would appear in HGTV renovation shows, they would have to pay for their own renovations. This means that most of the expenses for materials, labor, and permits fall on them. While they get the opportunity to work with the show's designers and get some consultations regarding their renovations, for many participants the main attraction rather than enjoying free renovations is the exposure.
Most often, when a homeowner applies to appear on such shows, their selection goes via some sort of processing. They have to give information about the property with the changes they seek. They get selected and the production team generally gives them an estimate of how much they can spend for the renovation. Anything other than that may have to be paid out of pocket. The show sometimes picks up dollars-and-cents savings in a partnership with suppliers or through a discount on materials. Any other cost associated with the renovation-e.g., unexpected repairs or upgrades-is theirs to incur.
Why HGTV’s renovation shows are witnessing a decline in TRP?
Numerous reasons are causing renovation shows on HGTV to lose TRPs. Firstly, most of the series have repetition in formats, which bores the audience after some time. Secondly, with the rise of streaming services, binge-watching is happening anytime people want, hence tuning into live broadcasting less.
Moreover, many viewers consider the high cost of renovation, which also can be one more point of disconnection with the audience. Other viewers claimed that the drama added to it had taken away attention from the very renovation aspect of the show. Finally, increased competition due to the recent appearance of new home renovation programs offers new content and makes it harder for HGTV to retain an audience.
'Don't Hate Your House with the Property Brothers' will premiere on HGTV on Wednesday, November 13, 2024, at 9 PM ET/PT. It will also be available on MAX and Discovery+.
