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Planning a renovation in 2023? Here are 4 tips for smooth sailing

Husband and wife painting the wall

Having a spruced-up home feels great. And it can also boost your home’s value. But, as exciting as the prospect of rolling up your sleeves and getting on with a reno can be, there are certainly pitfalls to avoid.

Renovating your home? Here are 4 tips to help you avoid reno horror stories.

Renovating your home can be an exciting and rewarding experience. However, it's important to be prepared to avoid any potential headaches. Here are four tips to help you get started:

1. Plan ahead.

Before you start any renovation, it's important to have a plan in place. This includes creating a budget, getting quotes from tradies, and checking with your local council to see if you need any permits.

It's also important to have a clear idea of what you want to achieve with your renovation. Do you want to update the kitchen? Expand the living room? Add a new bathroom? Once you know what you want, you can start to put together a plan.

2. Hire reputable tradies.

It's tempting to go with the cheapest option, but it's important to hire licensed and experienced tradies. This will help ensure that your renovation is done correctly and that you don't end up with any unexpected costs.

Get quotes from several different tradies before making a decision. Be sure to ask about their experience, their qualifications, and their references.

3. Have a contingency fund.

Even the best-laid plans can go awry, so it's important to have a contingency fund in place. This will help cover any unexpected costs that may arise during your renovation.

It's a good idea to set aside 10-15% of your total budget for unexpected costs. This will give you peace of mind knowing that you're covered if something unexpected happens.

4. Be flexible.

Things don't always go according to plan when you're renovating your home. Be prepared to make changes to your budget or timeline as needed.

For example, you may find that the scope of work is more extensive than you originally thought. Or, you may run into unexpected delays due to weather or other factors.

It's important to be flexible and adaptable so that you can adjust your plans as needed.

Here are some additional tips to help you with your renovation:

  • Get everything in writing, including the scope of work, the timeline, and the cost.

  • Be clear about your expectations with your tradies.

  • Be present during your renovation to make sure that the work is being done to your satisfaction.

  • Don't be afraid to ask questions if you're not sure about something.

Here are some additional tips to help you avoid reno horror stories:

  • Check the tradie's references before hiring them.

  • Get multiple quotes before making a decision.

  • Be clear about your expectations with the tradie.

  • Inspect the work as it's being done.

  • Don't be afraid to ask questions if you're not sure about something.

By following these tips, you can help ensure that your renovation goes smoothly and that you avoid any potential reno horror stories.

Here are some common reno horror stories to watch out for:

  • Shonky tradies who do shoddy work.

  • Budget blowouts.

  • Permit nightmares.

  • Supply chain disruptions.

  • Unexpected costs.

By being aware of these potential problems, you can help avoid them and make your renovation a success.

If you're looking for help financing your renovation, we can help. We have a team of experts who can help you find the right loan for your needs.

Contact us today to learn more.

Get your pre-approval today!

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.


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