Planning a summer-time reno?
Nov 13th, 2017 | Louis Metson
With only 18 days until the start of the Kiwi Summer (hope we get one this year), many Kiwi home owners will look to be looking to begin renovations on both rental properties and owner-occupied homes. Renovated property can breathe new life in to a home but before you go tearing down walls or ripping up carpet, have a read of the following 5 points.
These will enable you to complete your renovations with as little stress as possible and will make you think twice before starting your summer renovation.
#1 – Timeframes
Having clarity around renovation timeframes will allow for reduced stress for all parties. Before you begin, make sure you have factored in potential time-delays into your renovation schedule. Poor weather conditions, material delays as well as council consents and permits should all be considered. Realistic and achievable time-frames means less worry.
#2 – Using cheap materials
The old adage of ‘you get what you pay for’ could not be truer than in the context of renovating homes. For a finish that is polished and long lasting, using good quality materials for your summer renovation is key. Now, this may not mean you have to use the most expensive materials on the market, but it may simply mean using materials which are better suited to your particular property. If you have no renovation experience and are not sure which materials are best for you, talk with a specialist / professional.
#3 – Allow for some wriggle room in the budget
Its more common than not for the budget on a renovation to be stretched. For this reason, it’s best practice to factor in cost over-run into your budget. If unexpected costs arise, will you be able to complete the renovation?
#4 – Renovating to sell? Don’t over capitalise.
I get asked this question a lot from people who are looking to complete their first renovation on a property. “A new $15k kitchen means my house is now worth $15k more right?” The short answer is no.Yes, in principle you have added $15k with this addition, however the removal of the existing kitchen which, for arguments sake had a value of $5k means you have effectively added $10k to the property. When renovating to sell, if may be financially beneficial to leave the big-ticket items such as bathrooms & kitchens to the new buyers.
#5 – Vetting your tradespeople
Renovating is stressful and time-consuming enough and this is only compounded by substandard workmanship. Before employing any tradesperson make sure you ask if they are completely qualified and request examples of their previous work. Remember, cheap tradespeople can end up costing you a lot more in the long run!