Having completed a renovation in Albury, on behalf of a client who was living remotely, they needed someone to manage the process for them. I thought it was a good time to reflect and pass on some advice to all you would-be renovators who want to tackle it themselves.
1. Start with the end in mind
What I mean is that you are renovating to sell versus renovating to put a tenant in the property at a higher rent than before versus renovating to live in yourself, the budget, the choice of fixtures and fittings and the amount of work you will have do will vary.
In the event that you are renovating to live, you will likely make a lot more than either of the other two options, simply because you intend to live there and get the benefit of the money spent over a period of time.
Also, when renovating for sale or even rental purposes, you need to constantly consider whether I am adding more perceived value than actual cost. Am I getting a return on my money? Knowing where to draw the line is the key.
2. Have a budget
Don’t start renovating without having a budget in mind. You should have an idea of how much everything will cost and keep track of your expenses during the renovation to make sure you don’t run out of money.
It may be okay to leave a renovation unfinished if you live there (although not desirable), however if you are renovating for sale or to put in a tenant, it must be finished before you can sell or rent the property. Running out of money in the middle of the kitchen or bathroom is a sure way to get into trouble.
3. How are you financing the renovation?
If you have the cash on hand that’s great not many of us do but if you do it’s the easiest and simplest way to finance any renovation you know how much you have and can pay for materials and labor as necessary.
If you are using borrowed funds, make sure you understand the requirements for releasing those funds; If it’s a loan against equity, it could be as simple as the funds going into a clearing account until you need them. If it is a dedicated renovation loan, you may need to provide or pay bills and have it reviewed by the bank before receiving payment. There are many different ways this can work and you need to make sure you understand what is required to access the funds.
4. Quotes
It’s not practical to get quotes for every item, and in fact, in some cases, getting quotes will actually make it more expensive. If the job is a small job that doesn’t take much of a tradie’s time, if they have to come to the site, quote it, and then come back and do the job, you could end up paying more. Often for these smaller jobs, the best course of action is to find a reputable dealer in your local area and simply book the job to be done. As long as you understand your hourly rates and any calling fees.
5. Tiling in old houses
Almost without exception, in older homes, the walls and/or floors (especially if they are made of wood) are rarely square or straight. In the kitchen, for example, using larger format tiles for the backsplash can help hide these sins.
If a new kitchen is being installed it will be installed level and if the window is out 10mm from one end to the other, if you are using 100mm subterranean tiles for a backsplash you will notice. However, if you resize to a modern 300mm x 400mm backsplash tile, you won’t notice the 10mm that the old window is out of square (well, most of us won’t).
Likewise, old floors are often out. In the renovation I just completed for a client, the kitchen floor was out by 67mm along a 4m kitchen. We were able to deal with this by adapting the skid height throughout the kitchen, but these items are worth being aware of and planning for.
6. Replace versus repair
When planning a renovation, particularly one that includes a kitchen and bathroom, one of the first things you should do is evaluate your cabinetry and tile. Are they just outdated or are they really shabby? You may be able to refinish the cabinets or use tile paint on the tiles if they are in good shape. This could save you thousands on the cost of your renovation.
7. Electrical work
It may be a good idea, especially in older homes, to have an electrician come and look at the existing panel. Electrical legislation changes all the time and depending on when the last electrical work was done and what needs to be done, a complete upgrade of the board may be required to bring it up to code. This can be expensive. Also, legislation requiring safety switches is already in place in some states and will go into effect in others, it’s best to check with a qualified electrician to find out what to do about compliance.
8. Plumbing work
While all new homes are almost exclusively PVC plumbing these days, if you’re renovating an older home, be prepared to find some tile drain pipes that, in some cases, the plumber will have to make a connection to fit. Modern PVC sewer pipes.
It’s also worth being careful with demolition work around old plumbing fixtures, as it’s very easy to damage china pipes, and if they crack and leak, you could find yourself in for a much larger repair than anticipated.
9. Work planning
Once you’ve worked out the scope of your renovation, know the budget and what trades are involved, the next step is to schedule it. You need to think about the logical order of doing things so you don’t redo work or have trades damage the work of other trades.
Usually you want to do the demolition work first, then any new construction, ie walls, cabinets, etc. plumbing points for cabinets, etc.
It’s best if you can save the finishing trades like tile, paint, and flooring for last. In some cases, you may be able to have the painter start in another part of the house if there are areas that are not being completely renovated.
Always leave the floor to last, it should be the last thing you put on so the new floor doesn’t have a chance of being damaged by trade-ins or getting paint stains.
10. Check the renewal
Probably the most neglected stage of a renovation, but it is just as important as the rest. Check all your actual expenses, yes, including receipts from Bunnings, and add them up to compare with your budget. Did you stick to your budget? You need to know how much everything really cost you so you can determine its performance.
Don’t skip this step, even if you think you know the answer, or if you don’t want to know the answer because you know you missed it. Still, do it, as it will help you better plan the next one by seeing the area where your budget was spent.
No Comment