How To Plan For A Home Renovation
The devil is in the details when it comes to pulling off a successful and stress free home renovation, so what factors should the planning stage cover?
By definition, to renovate is to refresh, reinvigorate or restore. As such, the spectrum is huge when it comes to applying this term to property, and can include anything and everything from a fresh coat of paint to a brand new kitchen.
Once upon a time, renos were predominantly embraced by long term homeowners looking to give their abode a face lift or to include more modern features. These days, many people have also embraced the concept of renovating to sell as a means to increase the value of their property, and to ultimately present the home in question in the best possible light to potential buyers.
Regardless of your motivations, a home renovation can be a stressful, time consuming and expensive experience. However, the good news is that with some careful planning, it doesn’t have to be.
A Guide To Planning For A Home Renovation
The golden rule with most home renovation projects is to avoid overcapitalisation. If you have spent $200,000 on renos, but only made a $100,000 profit in the event of a potential sale, then your home renovation will have effectively cost you money instead of making it.
Instead, experts indicate that you should allow 10% of your property value for your renovation budgets. An example of this is if your home is valued at $700,000, your renovation budget should be $70,000. Apart from some in depth budgeting, other planning tactics that should be embraced before you start your home reno generally include the following.
Embrace Mood Boards – A physical mood board allows you to touch, feel and rearrange your choices in order to help execute decisions on what types of inclusions you would like to see in your home’s new interior design. It’s a great way to gather inspiration, and can even be used to communicate your vision to third party contractors that may be helping with the reno.
Make An In Depth Budget – Like it or not, the average renovation budget blows out by 80%, and the average slippage on timeline is a whopping twenty months. To minimise your exposure to these unexpected surprises, make an in depth budget from day one and track it as you go. If that means making a project management spreadsheet as well, then do it.
Check If You Need Permits – Depending on the nature of your reno, you may be required to get a planning permit from your local council, followed by a building permit. Failure to do so can result in hefty fines and even having any amendments demolished, so be sure to do your homework first. If you’re unsure, this handy guide can be used as a quick reference.
Sort Your Finance – In 2021 alone, one in three Australians renovated their homes with an average spend of $26,000 per project. If that’s not the kind of cash that you readily have lying around, then a trip to the bank or your local broker should be given priority before you even think about proceeding any further.
Calculate DIY vs Trade – While there are many aspects of a home renovation that a relatively handy homeowner can tackle themselves such as floating floors or a new coat of paint, other aspects that require a specialised tradesperson such as a plumber or electrician need to be factored into your timeline and budget.
Allow 6-8 Weeks For Materials – In the world of home renos, not all of your supplies or tradespeople will be able to arrive on your doorstep at the snap of your fingers. Don’t shop as you renovate, and instead aim to have any building materials ordered six to eight weeks in advance to accommodate for any delays, particularly for custom orders.
While upcycling materials is a great way to keep your cash in your pocket and stick to your budget when undertaking a home reno, sometimes purchasing new materials is simply unavoidable. In order to ensure they are best suited to your individual needs and matches in with the overall look and feel of your home, it’s always worth speaking to the professionals before you start shopping – but where do you find them?
Sourcing Flooring Materials From The Professionals
While your options for carpet, timber and tiles are almost limitless, selecting the right type for your home certainly isn’t an easy feat. With each space, comes a different preference or priority: are you chasing style, functionality, or simply want to stay within the budget?
In operation for over 25 years, at Tile Wizards we pride ourselves on getting you more – for less. We pioneered the warehouse format, and our stores are purposefully designed to make your selection easier, and ultimately offer our customers quality, price and the right advice.
Even if you are just after some honest and friendly advice – please don’t hesitate to get in touch with us at Tile Wizards today for a free quote. We’re able to work with you in order to bring your dream flooring solution to life.
