If you can look past an unloved property's outward appearance and see its hidden potential, a renovation project could be the route to your dream home. However, when it comes to renovating a house, it's only too easy for a dream project to turn into a nightmare if you make just a few simple mistakes. Renovation projects do not start with a clean slate, after all, so you may find you inherit a number of issues with your home, especially with an older property, that can stretch your budget to its limits. Unless you're well-practiced in buying properties to renovate, it's only too easy to make a few mistakes along the way that can eat up precious funds, cause disputes and leave you living in a half-finished home.