Renovating – is it as easy as it looks?

Renovating – is it as easy as it looks?

Reality shows like ‘The Block’ set off DIY trends where suddenly everyone thinks it’s easy to renovate.  What typically ends up happening is the renovation comes in over budget, late and with an ordinary finish.  Here are just a few pointers that DIY renovators need to think about:

  • If you select tradespeople who haven't worked together before it often results in a hotch-potch job with one tradesperson blaming the other for an ordinary finish.
  • The renovation usually takes longer than you expect. For investment properties time is money so for every extra day the renovation takes it’s a day you go without rental income.
  • The stress involved in undertaking a renovation project including managing 'tradie' personalities and negotiating with them can be quite challenging for the uninitiated.
  • There is a real skill and art to knowing what to do beyond just colour selection. Design, space creation, textured finishes, style and so on are all vital to ensure that the look and feel intersects with the maximum value being created for each dollar invested.
  • If it’s a substandard end result then it’s likely you will under-capitalise and achieve a lower than expected rental return. Unfortunately it’s just as easy to go the other way and over-capitalise. 

Many people think that they are saving money by taking on a renovation project management role themselves but in reality the cost of getting it wrong is significantly more costly than hiring a professional to arrange and oversee the work.

Would Australia’s top business minds undertake a renovation job themselves or would they hire an expert to deliver the best results? Exactly! Do what the smart money does and hire a professional to ensure you end up with a professional result.

Categories: Renovations