How to successfully plan for your renovation
Every successful renovation starts with a strong plan.
In this article, we list the top renovation tips to ensure this exciting new venture is a success.
To begin with, set yourself a budget and have a clear reason for renovating. Few of us have unlimited funds to put towards a home renovation, and the best way to prevent over-spending is to decide early on how much money you’re willing to commit to the project.
Setting a budget will help you determine whether you have enough money in savings to fund your renovation, or whether you will need to refinance your mortgage, access equity, or apply for a personal loan.
The other benefit of setting a budget is that you will be able to prioritise how you spend your funds when renovating. Would you prefer to save on furniture and splash out on fittings? Or perhaps you’d like to attract tenants by renovating your investment property. There are endless options as far as budgets are concerned, and as long as you approach your renovation with a strategy, you should stay within your means.
During this stage, you should have an idea of the scope of your project, the aesthetic you want to achieve, and you should have tangible plans. During the preparation stage, you should also check to see if there are any restrictions to renovating your property. Are you in a conservation area? Is your home heritage listed? You will also need to submit your plans to council, apply for work permits, pay fees and organise alternate living arrangements if your renovation renders your home uninhabitable. Keep in mind that you will need to account for moving expenses should you need to leave your home during the renovation period.
Once you’ve decided how much you can afford to spend on your renovation, you’ll need to start getting quotes from contractors to see if your vision can be achieved within your budget. Don’t stop at one quote, approach at least three contractors to find the most competitive price.
There are an abundance of apps you can download to help you plan for your renovation. From tracking your budget to helping you measure and design. So make sure you get tech savvy and take advantage of all the various gadgets at your fingertips.
Be cautious with this step. We’ve all heard disaster DIY stories from ambitious and often inexperienced home builders getting themselves into trouble by taking on more than they can handle. The key here is to take on smaller tasks that will reduce the overall cost of your renovation. Painting and polishing are small, relatively risk-free tasks you can do to relieve your contractor and your hip-pocket.
Choose the right time to start your project. The amount of time it will take to complete your renovation will vary drastically depending on the scope of work. Keep in mind that different times of year will impact construction. Be mindful that rainy seasons will likely delay your build. And, you may find it difficult to lock down a contractor during summer.
If you follow these tips, you should be able to enjoy a seamless renovation process. Good luck and happy renovating!