Have you started thinking about renovating your house? Planning those changes to your home can be exciting, but it can also be an overwhelming task. Renovations require a lot of time and effort, from the budgeting and planning, right down to the actual modifications.
There’s a few things you should know before you undergo your renovation project. So sit back, and take note of these important ones.
1. Understand what your options are
Before you decide to renovate, it’s important to understand what your options are, along with the costs associated with them. If your house just isn’t cutting it for you anymore there are three main options you’ll have – moving houses, renovating, or tearing your house down and rebuilding. Figure out which option is better for you in terms of budget and lifestyle, then plan accordingly.
2. Know your budget
This one’s a biggie. Before you start planning the details on what you want to renovate, make sure you know how much you can spend. You’ll also want to think realistically about how long you will be staying in the house. If you’re renovating for sale, you should be careful not to spend more than you can regain from the sale. If you’re planning to stay in the home long-term, you’ll want to account for the costs of high-quality materials that are built to last. As with any renovating project, it’s also helpful to have a contingency fund, just in case things go a little awry.
3. Know what you want
Since you’ve been thinking about renovating, you’ve probably got tons of ideas of what you want for your renovation. However, now’s the time to get specific. You may have a bunch of ideas, but it’s important to narrow them down to your wants and needs. Having a ‘wants and needs’ list will help you determine the things that are an absolute must, and the things that are on your wish list that you may need to set aside budget for. It’ll also help your builder understand what you want out of your renovation.
4. Know your council regulations
We know, council regulations can be a bit of pain! But it’s important to know what they are before diving into renovation so that you aren’t in breach of any regulations (as it may result in you having to pay a hefty fine!). Your builder should have an understanding of council regulations, but you’ll want to observe that they adhere to them. Experienced and professional builders will obtain planning and building approvals and will be in contact with your local council to ensure your renovation meets regulations.
5. Think about your property’s value
Whether you’re renovating for sale, or simply renovating to improve your home, it’s a good idea to keep your property’s value in mind. Making major changes to the appearance of the house that might make it stick out from the rest of the houses on the street can have negative effects when it comes time to sell. On the other hand, updating your kitchen and bathrooms can help add value to your property for a bigger sale price.
It’s important to keep these things in mind when renovating to ensure your home reaps the benefits long term.
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