BE CLEAR ON THE REASON FOR THE RENOVATION
Having clarity as to WHY you want to renovate will assist you work out WHAT you need to renovate. In other words, if it’s to prepare the property for sale, compared to renovating a property to rent it out compared to renovating for the comfort of your family for the next 10 years. The type of renovation and the budget will be vastly different for each of these reasons.
The scope, type and size of your renovation has a huge impact on the cost.
Start with a list of items which are critical to achieving the outcomes you require and another list of secondary ‘nice to have’ items which are still focussed on achieving your outcome. Then, prioritising these lists in case you need to make comprises.
BEGIN YOUR INVESTIGATION
“Budgets are the one of the main causes of renovators’ remorse”
Speaking to a couple of local builders as well as architects, will quickly provide you an indication of costs and whether your budget is realistic. You can then begin to adjust your list of wants with a tangible and realistic scope for the renovation. You may even be at the stage of having plans drawn up which will provide you even more clarity as to the reach of your budget.
Many families who renovate their home, have years of regrets that they didn’t spend a little bit more to get exactly what they wanted. Once a renovation is complete, it’s unlikely you’ll delve into renovating an already renovated home so if you’re going to do it – don’t have regrets and do it properly.