Renovating a home or property takes a lot of time and organisation.  It’s going to mean plenty of planning ahead!  Therefore, it also makes sense to know when it’s the best time to renovate.  Whether you are interested in renovating, extending or merely bringing a property up to code, there are a few factors you’re always going to need to bear in mind before getting started.

Your Personal Circumstances

Renovations will vary in terms of costs from job to job.  However, it is a good idea to ensure you are solvent enough to plan for such work before you dive right in.  It is common for people, even seasoned renovators, to under-budget for big projects; therefore, financial safety is a must.

You should also consider busy periods in your life.  If you have children and are looking after them during school holidays, you probably won’t have much time free to spare for a renovation project.

One of the best things you can do while planning for renovation is to budget time, not just money.  Think as far ahead as you can.  Consider all the tools and materials you may need, and who you wish to approach for help and support.  The best time for home renovation will be when you have plenty of your own time to give – as well as financial solvency.

Starting a Renovation

Home refurbishments and renovations can take time.  Thinking about starting a new property renovation soon?  Concerned about getting the timing right?  The team here at Period Extensions & Designs are always here to help you.  Call us directly on 03 9882 5255 to learn more about how we can start putting renovation plans into action for you.

So, you’re about to embark on an exciting journey of refurbishing your home and giving it a fresh new look to fit your current needs and lifestyle.  Not to burst your bubble, but renovating a home is not as simple as ABC.

Probably the most important thing to consider first is your budget. Here are some smart tips to help you develop a home renovation budget that you can afford and stick to without overspending.

Tip #1: Set your parameters.

Determine the scope of your home renovation project by deciding which areas of your home will be included and what your desired outcomes are.  Apply the “MOSCOW” technique to set your priorities by making a list of your “must haves”, “should haves”, “could haves” and “would haves.” By clearly setting your parameters early on, you will be able to plan for a more realistic budget and have a benchmark for when you need to choose between what to keep and what to let go.

Tip #2: Seek advice from the experts.

It pays to get some help from industry experts to guide you through the process. Get someone to design a plan for your home makeover. Seek advice from architects, designers, builders, and quantity surveyors on renovating costs and the best approach to getting the best value for your money. Your plan will answer some of the key questions such as what work will be involved, in what order they are to be done, and what it entails in terms of materials, labour, and time frame.

Tip #3: Develop detailed cost estimates.

Now that you know what you want, it’s time to develop a detailed budget plan. This is where your Excel skills will come in handy. Create a spreadsheet of all elements of your home renovation project and their estimated costs. Start with the big-ticket items such as permits and fees, insurance, warranties, valuation fees, utilities, labour costs, and others. Then move on to the cost of materials, fixtures, fittings, finishes, and furniture. Make sure not to miss the small items that could add up to your costs.

Tip #4: Add a buffer for unforeseen costs.

Once you have decided on a contractor, share your plans with them to check for anything that you may have missed. You can then adjust your budget using cost estimates your contractor has provided. Add a 10 to 20% buffer as contingency for any unforeseen costs or changes in the renovation process.  Keep track of how you are doing against your set budget by adding columns for actual costs and variances in your spreadsheet.

Now that you’re armed with these smart budgeting tips, you can start planning and get cracking!

When doing a home renovation, everyone you talk to will have their own opinion about how to do things in the right way. We’ve put together our list of 7 expert rules of renovating a house that will help keep the renovation process smooth and efficient.

1. Plan for all costs.

Putting together a budget means that you will be prepared for any and all expenses that might come up during your renovation. You’ll need to consider valuation fees, council taxes, legal costs, reconnection costs, building regulation fees, insurance, internal and external repairs, general building costs, interior design and decorating costs, warranties and all preliminary costs.

2. Be realistic with your budget.

While many of us want the look and feel of a multi-million-dollar home, most of us simply can’t afford it. You may need to cut back on some of your ‘wants’, or make compromises on design ideas so that you can stay within your budget. It is best to be upfront with the designer regarding your budget so that the designer can design for you according to your budget.

3. Stick to a schedule.

Planning a home renovation, what needs to be done, and by when will help you along the way. Working as a team with the builder ensures a smooth build.

4. Allow some room for delays.

Even though sticking to a schedule is key, you should always allow some buffer time in case one part of the renovation takes longer than expected. Delays can be caused by weather, late deliveries or an emergency, so have a contingency plan in place.

5. Don’t make rash decisions.

Your renovation is your renovation. If you are not sure about an idea that has been presented to you, don’t feel pressured to say yes if you are not happy with it.

6. Make notes of all of your ideas.

Working with our design team, we will want to hear all of your ideas for your dream home. Our designers are experts at taking ideas and turning them into workable plans.

7. Don’t micro manage your design and build team.

It can be difficult not to micro manage a renovation project but put your trust in the professionals, and know that they will get everything done correctly. Have regular update meetings but otherwise feel free to let them do what they do best.

Need a hand with your home renovation?

The design and build team at Period Extensions & Designs will be delighted to work with you on your next renovation project. Give us a call on 03 9882 5255 to find out more about how we can help.