Truly one of the most innovative ventures that you can take on is the challenge of home renovation. It is an exciting process that gives a complete overhaul to your living spaces and transforms them into something remarkable, something that is functional, something that is also aesthetically pleasing. However, it is easier said than done. So how do you give your home a complete makeover? Let’s dive into the basics.
Defining the Goal for Home Renovations
Like with all good projects, this one too needs to start with a plan. So, before diving into the logistical details, it is critical to clarify why you are renovating and what are your expectations from it. Start by deciding which rooms of the house need the most attention. Gather inspiration from magazines, or online platforms to have a mental image of how you want your home to be after renovation. Make sure to not only prioritize looks but also the functionality and the long-term value it is going to be adding. Whether you are looking to modernise your outdated home, add extra bedrooms, or create a more open living area, having a clear vision helps to prioritise and plan effectively.
Set Your Budget Straight for Renovating Your Home
No matter your home renovations plan, a non-realistic budget for renovating your home is going to get you nowhere. Establish a budget to work with since having a comprehensive financial plan ensures that you are prepared for the expenses without any unpleasant surprises.
Research the typical costs of renovation in your area. Now, allocate up to 10 to 15 percent more of the budget as a contingency fund. In case your savings are not enough to cover the cost of the renovation, you can also consider refinancing or other low-interest home renovation loans.
Hire the Right Professionals.
We do not suggest to try and DIY the entire process and it is important to seek professional help. Bennic Homes and other major brands in Australia ensure that the job is done on time and to a very high standard. We suggest to vet potential builders in your areas to find the right one. Once you have a few shortlists, request itemised quotes to get a clear understanding of the cost breakdowns.
Note: If the renovations involve structural changes, hiring a licensed designer or architect is a must.
Get the Right Approvals
In Australia, many renovation projects require approval from the council to ensure compliance with the building codes and regulations. However, in most cases, the hired professional is going to take care of all the necessary approvals. Check on the official website of the local council to confirm if the project needs development approval. Extensions, second-storey additions, and major alternations in the house structure often require permits.
Finalising the Design and Materials
With the approvals and the design finalised, the next thing to focus on is selecting the materials. Selecting the materials can be a very critical junction in the entire process of home renovations. This is important because you will need to choose the right materials suited for the Australian conditions. Choose weather-resistant finishes for outside areas or use energy-efficient windows to reduce the overall cooling costs. By incorporating eco-friendly materials and energy-efficient appliances, you can reduce the overall carbon footprint and long-term bills. Fixtures, furniture, and other materials can be properly advised by your builder. If you’re looking for more guidance on style and functionality, interior designers in Perth can provide valuable insights to help you select materials that match your vision and needs.
Sign the Contract and Prepare for Construction
Once the design, scope, and costs are agreed upon, formalise the arrangement with a detailed contract. Do not shy away from negotiating a better price during this stage since once the contract is signed and acknowledged, it can be very hard or even impossible to alter the terms of payment. For the contract, remember to specify timelines, and payment schedules and ask if there are any warranties applicable. This should also be mentioned in the contract. This is very important as it can protect you from any surprises.
Handover and Post-Completion
As the renovation work wraps up, focus on the finishing touches and the final inspections. Do not overlook this step. To do this properly, conduct a complete walkthrough to check that the work aligns with the agreed design and standards. Also, ask your builder if they are going to provide you with a defect liability period. This helps to protect you from any issues that arise after the completion of the renovation works.
Frequently Asked Questions
How much does it cost to renovate a home?
Based on available data on the internet, an average renovation cost is around $63,000. The cost generally falls between $40,000 to $300,000 depending on the level of home renovation.
How to use equity in a home for renovations?
With a good enough credit score and enough home equity, your home’s equity can be a great low-cost option to finance your renovation project.
What should I consider before starting a home renovation in Australia?
Before starting any renovation in Australia, it is important to set the goals of the project and fix a budget. This allows you to contact potential builders for the project and ask for price quotes.
Do I need council approval for home renovations in Australia?
Depending on the severity of the renovation effort, council approval might be needed. In case, there are structural or other significant changes to the original home, it is important to get the modifications approved by the council.
How long does a typical home renovation take?
There is no straight answer to this. The time required for a home renovation depends on the size of the house, the scope of the project and its complexity. On average, it can take anywhere between 3 to 9 months.
What are some common home renovation trends in Australia?
Major renovation trends in Australia include the high priority towards energy-efficient renovations and open-plan layouts. This has proven to be a popular choice since it allows for lesser energy bills and also creates a more roomy feel in the home.
How can I budget effectively for my home renovation?
Plan, prioritise, and research. These are the three pillars that should be able to help you calculate the budget for your renovation. Consider adding 15 percent of the overall cost as a contingency fund.