So you’re thinking about renovating?

Living Room before and after

That’s great! Especially in the current real estate market where it’s extremely hard to sell the house you’re living in and purchase another house quick enough that you can have a seamless transition. If you love where you live, and you have the budget, then renovating is a great way to make something old new again. If you’re not too sure where to start, I’ve listed below my five top tips on where to start with a renovation. This is by no means comprehensive, but it will help to get you started.

1. Know your ‘why’

Before you start talking to trades, really be clear about why you want to renovate and what your renovation goals are. Renovating to enjoy your home for years to come and renovating to sell are two very different goals. If you are renovating to stay in your home you will be designing and selecting based on how you use your home and your own specific style. Renovating to sell is normally to meet the masses both from a function and style perspective. If you are renovating to sell, then consider whether you need a full structural renovation or just a cosmetic renovation.

2. Have a realistic budget

It’s super important for you to be really clear on how much you are happy to spend on your renovation and to also be realistic about what you can get for your budget. If you have $20,000 and you want to do a whole house structural renovation, then you’re most likely going to be quite disappointed. At a very high-level average estimate, you are looking at the following costs for the more expensive rooms in a house:

Kitchens - $20,000 to $50,000

Bathrooms - $15,000 to $30,000

Laundry - $10,000 to $25,000

Then you’ve got all the structural work (if you are doing a structural renovation), other bedrooms and joinery for those rooms and the exterior of the home.

3. Don’t over-capitalise

Have a chat with your local real estate agents to see what the market is like to help you decide how much you want to spend on your renovation. Renovation experts believe you should spend no more than 10% of your home’s value on a cosmetic renovation and no more than 40% on a structural renovation. But of course, you should seek expert advice from real estate agents and your bank prior to making that decision to ensure you are not going to overcapitalise.

4. Engage the experts

If you need help with pulling together the design of your home, consider engaging an architect, building designer and/or an interior designer to assist you with this. Not only are they good at making sure your house flows from the inside out, but they are also aware of National, State and local building regulations which they incorporate into their design decisions. Also make sure you engage a builder you are comfortable with and who has the appropriate credentials from the State regulator.

5. Know the building regulations

If you are thinking of extending either out or up, then make sure you are aware of your local government area regulations, such as how far you can build to the boundary and how high your house can be.

Need more help?

If you are thinking of renovating and need help with planning, then feel free to reach out to me for a consultation. I’m always happy to help.

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