DIY television shows can lead you to believe that a renovation can be completed over a weekend, but the reality usually takes a lot longer, and involve some stress before you’ll reap the rewards.
Here’s our guide to minimising the drama.
1. Do your research
One of the greatest risks with a renovation is overcapitalising, or spending too much in ways that cannot be recouped when you sell your home. To avoid this, undertake some disciplined research. As your agent, we’d be happy to give you an insight into the types of homes and features that are popular locally and where you might maximise your investment, especially if you intend to sell the property once the work is completed.
2. Consider an architect
A local architect might not be cheap but they can bring tremendous value to your project, delivering a unique design, guidance on the best materials and advise you on what the entire project might cost. They can also act as your project manager and are likely to know the reputation of local builders and guide you towards the best companies.
3. Choose your builder based on finished work
If you’re not using the services of an architect, word of mouth recommendation is a reliable method to select a builder. Don’t choose a builder based on finished work. You’ll have no idea of how the project rolled out and whether the client was happy with the work or customer care provided. Your research of builders is arguably the most critical factor in any renovation.
4. Understand the contract details
A builder’s contract will include the finalised plans, budget, completion deadline and caveats around issues for which the builder might have to increase their price. The Master Builders’ Association has a standard contract on its website. Once signed and the cooling-off period has expired, you’re locked in. In the contract, negotiate a minimum number of hours work per week that they will work on your project, and include a fiscal penalty if the job is not completed to deadline. It is common for builders to move teams to other jobs for days at a time, leaving yours dormant. You should use the contract to avoid this outcome as much as possible. This element of the renovation experience is arguably the source of a client’s greatest frustration.
5. Materials and workmanship matter
Be specific in the contract about the quality of materials and workmanship. This will require an intensive study of your contract. Double-down on the list of materials to make sure you are getting exactly what you want. If you change the spec, this will add to your costs. It pays to do your own research on the types of materials and finishes you expect before your quote. Don’t tolerate vague statements from your builder. Everything discussed should be specific. Take notes to avoid misunderstanding. If you feel unsure about what you are being told, put your concerns in writing and request a written reply.
6. Make sure you’re insured
Before work commences, inform your insurance company of the temporary changes occurring on your property. They will advise you on whether your policy needs a temporary adjustment to cover theft of building materials, which is quite common. If you are not living on the property during the renovation, be sure to make regular visits to check on progress and the quality of work. Tell the builder that you expect the project manager or foreman to be on site for your inspection.
7. Hire a certifier
A certifier will oversee elements of work that will require specific approvals from council and suppliers of water, electricity and gas. A certifier should ensure there are no short-cuts that could prove expensive to remedy down the track.