Home Remodelling & Renovation
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trend now. In earlier times, this idea probably wasn't much popular. But now – a – days,<br />
building a place for recreation in houses is in trend. Building swimming pools, indoor games,<br />
Gyms, home theaters etc. in houses serve the purpose of recreation in home.<br />
VI.<br />
Major renovation mistakes<br />
1: Not researching<br />
Many renovators base their property price research on causal searches on real estate<br />
websites. They see that similar homes in their area are selling for good prices, but they fail<br />
to take into account that different streets within suburbs can have very different price<br />
thresholds.<br />
Neighbouring homes can have an effect on your final sale price, especially if they have very<br />
poor street appeal. Always think about your intended market and the demographics within<br />
the local area.<br />
2: Underestimating costs<br />
One of the biggest mistakes many renovators make is underestimating their project costs.<br />
Getting quotes on the cost of building materials is a start.<br />
But have you factored in architect's fees, local council fees, labour costs, professional fees,<br />
the cost of unexpected delays, additional contingency costs for problems found during<br />
renovations, GST and other taxes? Most people don't think about these elements, which can<br />
cause them to blow out their budget.<br />
3: DIY projects<br />
While DIY projects can be a good cost-cutting tactic, it’s important to remember that there<br />
are some tasks that are best left to the professionals. If you undertake DIY projects yourself<br />
and aren't competent, you may have to spend money fixing faulty work further down the<br />
track.<br />
4: Not sticking to a budget<br />
A shortage of funds may mean that you’re unable to finish the project. If your renovation<br />
isn't completed you won't be able to sell the property at the profit you initially anticipated.<br />
While it’s tempting to opt for luxurious fittings or finishes, try to stay within the parameters<br />
of your budget.<br />
5: Renovating the wrong elements<br />
A common problem with many renovations is that the owner has spent money renovating<br />
the wrong elements, and chosen options that are unlikely to add value to the property type<br />
and location. To avoid this, ensure that you engage in thorough market research and consult