Whether we are flipping a property or creating our dream home, Australians have quickly become the renovating nation, and since more and more are trying to tackle DIY style, we wanted to address some of the essential topics.
These are the ultimate questions to ask yourself before even getting started.
- Why do you want to renovate?
- What is your budget?
- What are the core items that you refuse to compromise on?
- Is it a structural renovation, a cosmetic one or both?
- How much of the work do you plan to do yourself?
Are you renovating to increase the value of the property?
If so, design or structural changes tend to create the best-added value; however, the smaller projects can also help increase the value of your property quickly.
If you’re looking to complete the more minor things first, here are some ideas:
- Fresh paint! Everything looks good with a fresh coat of paint, indoors and outdoors.
- Minor remodels in your kitchen, bathroom or bedrooms. Something as simple as upgrading the lights, adding a smart home system or adding a feature.
- Replace or upgrade the old windows. Sometimes they need a minor cosmetic update, and other times replacing the whole window adds to the home’s appearance.
- Do up the garden, front and back.
- Update the flooring (for example, you could rip up carpets and replace them with floorboards).
- And so much more!
Things to keep in mind when renovating
- Stay on top of your budget.
- On that note, are you using your savings, equity, a loan, offset or redraw to fund the renovation?
- Keep an eye on the market within your area; sometimes, spending less on your home renovation is for the better, as doing too much may not increase your selling price due to the area having a lower price average.
- Double-check all your measurements; there’s nothing worse than getting a measurement wrong and sending it off only to have the item not fit.
- Plan, plan and plan. Yes, planning can be tedious, but if you have everything planned out, there is a slimmer chance of something going wrong.
If you’d like extra tips on getting a top-up on your home loan for your renovations, book a FREE initial call with us today or request a copy of our November newsletter here in the contact form. The newsletter covers this exact topic about how to gain a quick top-up.
