Home renovations can be rewarding, satisfying and give you a sense of “wow, aren’t I amazing?!” But, they can also be stressful, hard work and a drain on your finances if not correctly planned.
We have come up with 5 things to consider before you get stuck in.
- Want to go down the ‘Do-It- Yourself’ route? Be honest about your skills. Are you really the world’s best tiler or should you call in a favour from experienced friends or family to help with the trickier parts?
- Make sure you set a firm budget and have a contingency fund for any of those unexpected ‘surprises.’ You don’t want to find yourself in hot water or dipping in to the ‘after renovations holiday fund’ because you didn’t stick to your costs.
- Have a frank discussion with your partner about what you both want to achieve, or where you want to renovate. Arguments may arise if you set to work on the new home cinema they thought would be a guest room.
- Are you over-renovating? Sometimes the simplest, least expensive changes can give the best returns. For example, insulating your attic may recoup more costs than a new top of the range kitchen.
- Be realistic about the timescale of how long it will take to complete the renovations, especially if you are undertaking a BIG project. If you are hiring a contractor, make sure to discuss timelines so you know what to expect and when.