Solutions

What should I consider before renovating?

Should you renovate your home? Is it the sensible thing to do? Here are some handy tips to help determine whether you can afford to renovate - and whether it's worth it.

There are many things to consider when you’re thinking of renovating your home. Take stock and think about what you want to do with your home. Check your budget, plan your finances, contact any experts for quotes, and identify any problems in advance. Also consider whether you’ll need council approval if you’re making significant changes like extensions.

Here are some tips:

• Keep a scrapbook of the things you like when it comes time to plan what you want it can all be easier to show the architect or builder the look you are after.
• Research what sells best in your area, attend open houses in the area and see what sells well. Talk to real estate agents in the area about what attracts buyers.
• Ask questions, talk to anyone who has been through the renovation process, what went wrong? What worked for them? Which tradesmen were good, and bad?
• When finding tradesmen it maybe worthwhile getting at least 3 quotes and checking previous jobs they have completed in the area .
• Check that the house is sound; engage any building professionals you need to before you start to check that the house is structurally sound.
• Make the budget realistic. It is recommended that you allow for a contingency of 10 -15% and stick to it. Be careful of overcapitalising especially if the idea is to add value and sell the house.
• Plan for council approval; getting council approval for structural work, extensions, or additions can easily take 6 months or more so plan ahead.