The Do's and Don'ts of Home Renovation

Found a great family home that would be perfect with just a few modifications and updates? When it comes to renovations it can be easy to get carried away in the excitement, especially if it’s your first time. We have created a list of do’s and don’ts to help ensure that it's a successful renovation. 

Do set a realistic budget

Setting a realistic budget helps you understand your financial limitations and not get carried away with spending money you don’t have. Having this budget will also help to prioritise what needs to be done as well as what will add actual value to your home and allow you to get a good return on investment. 

It is also important to build in a buffer amount for those unforeseen and unexpected expenses that there always are when renovating. It’s never the goal to come in over budget and over time so it is best to allow some room for the unexpected from the start. 

Don’t over-capitalise for your area

One of the goals of a renovation is usually to increase the value of the property. However, you also want to ensure that your expenditure does not exceed the value you will gain from the renovation. Therefore don’t spend more money than the value you would expect the property gain if you were to sell. 

Another thing to consider is unless you are renovating to simply turn around and sell (flipping) following market trends may not give you the best return on investment. If this is going to be your home for the foreseeable future you should prioritise what will work for your family in your living space. 

Don’t cut corners to save money

When undergoing these renovations it’s important to not cut corners just to save a few dollars. Using cheap materials and poor workmanship will more often than not only lead to bigger problems in the future. 

If you're working with tradesmen, be sure they are reputable professionals qualified to carry out the work. Word of mouth can be a great way to get good recommendations so talk to friends and read reviews online. 

Not cutting corners may cost you more upfront but it will be worth it in the long run to avoid issues.  

Don’t skip the planning stage

Undergoing renovations is a huge task, mentally, physically and of course financially. A key element of a successful renovation is the planning stage.

Start with 

• Which rooms are you wanting to renovate?
• Is this renovation designed to improve functionality or aesthetics?
• What will be needed for the renovation?

These questions will help clarify what your goal is for these renovations. You can then move on to practical planning such as: 

• measurements, 
• locations of fixed objects or 
• potential obstacles and 
• floor plan. 

Spend the time doing lots of research, and have a look at what options are out there to help you achieve your desired results. Quite often there is more than one way to achieve what you want to do. In this technological day and age, there is so much information online and many different resources available to help you plan and even give you visuals of what the finished project will look like.

Also, plan for the logistics of the renovation. What will the impact be on the living space? 

Are you just looking at painting walls where you will just have to move furniture away from walls? Or are you looking at redoing a complete room like the kitchen? If this is the case you may have to account for losing access to that space and facilities for the period of the renovation. 

Do plan for the long term and consider future needs, this will help save costs and avoid renovations down the track. 

Prioritise the necessary and high-value renovations

You may be lost with where to start so it could help to make a list and then have a look at what needs to be done. Don’t just focus on updates that you think will dazzle. There is no need for those types of renovations if they are going to eat a large chunk of your budget and don’t add to the functionality. Look at what will add the most value and prioritise those. 

It is just as important to keep on top of day-to-day maintenance to show that you have looked after the property on an ongoing basis. There is no point in putting all the effort into a large renovation if you don’t pay attention to the small details. Taking care of the small details will allow the bigger projects to shine. 

Small details such as 

• Landscaping 
• Clearing gutters 
• Ensure the entryway is clean, even just applying a fresh coat of paint to the door can make a difference

Undergoing renovations can be exciting and add great value to your home when successful. We want you to avoid some of the common mistakes people can make. 

If you're looking for a property that you can turn into your ideal family home, or getting ready to sell and wondering what improvements and updates you should make before you put it on the market, talk to the professionals. 

If you are thinking about selling and are overwhelmed by what may need to be done to get the house ready to place on the market, then enquire about our EzyList package. It allows you to list your property easily with zero upfront investment.

It includes

• essential renovations & repairs
• landscaping
• home styling package
• marketing & advertising costs

NXTGEN Property has over 35 years in the industry and can answer any questions you may have so talk to our team today.