Having completed a renovation in Albury, on behalf of a client who lived remotely, I needed someone to manage the process for them. I thought it was a good time to reflect and pass on some advice for all you aspiring renovators out there who want to tackle it for themselves.
1. Start with the end in mind
What I mean is you’re 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’ll have do will vary.
In the event that you’re renovating to live in, you’ll likely do 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 have to constantly keep in mind if 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 a budget in mind. You should have an idea of how much everything will cost and keep track of your spending 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 it is not desirable), however, if you are renovating for sale or to put up a tenant, you must finish it in order to sell or rent the property. Running out of money halfway through the kitchen or bathroom is a sure way to get yourself into trouble.
3. How are you financing the renovation?
If you have the cash on hand that’s great not many of us do it 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 having the funds go into a clearing account until you need them. If it is a dedicated renewal loan, you may need to provide or pay invoices and have it reviewed by the bank before you receive 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 is 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 require a lot of time from a tradie, if they have to come to the site, quote for it, and then come back and do the job, you might 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 call fees.
5. Tiled in old houses
Almost without exception, in older houses, the walls and/or floors (especially if they are made of wood) are rarely square or straight. In the kitchen, for example, using larger 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 outside 10mm from one end to the other, if you use 100mm subterranean tiles for a backsplash you will notice it. However, if you resize to a modern 300mm x 400mm splash tile, you won’t notice the 10mm that the old window is out of square (well, most of us won’t).
Similarly, 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 adjusting the height of the skid throughout the kitchen, but these items are worth being aware of and planning for.
6. Replace vs. repair
When planning a renovation, particularly one that includes the kitchen and bathroom, one of the first things to do is evaluate the cabinets and tile. Are they just outdated or actually shabby? You may be able to resurface the cabinets or use tile paint over 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 you need to do, a full board upgrade 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 consult with a qualified electrician to find out what you need to do with 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 earthenware 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 earthenware pipes and if they crack and leak, you could find yourself in 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 break the work of other trades.
Typically you want to do the demolition work first, then any new construction i.e. walls, cabinets, etc. plumbing points for cabinets, etc.
It’s best if you can save finishing trades like tile, paint, and flooring for last. In some cases, you may be able to get the painter to start on another part of the house if there are areas that aren’t getting a full facelift.
Always leave the flooring until last, it should be the last thing you put down so your new flooring doesn’t have the chance of being damaged by swapping or staining with paint.
10. Review the renewal
Probably the most forgotten stage of a renovation, but it is as important as the rest. Take all of your actual expenses, yes, including the 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 your return.
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, go for it, as it will help you better plan for the next one by seeing the area where your budget was overspent.