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10 Things To Keep In Mind Before Going For Renovation

10 Things To Keep In Mind Before Going For Renovation

May 03, 2023 in Blogs

home-apartment renovation

From the sweltering afternoon heat to the Floody rains, a house or an apartment faces the wrath of periodically changing weather conditions. In the long run, these affect the strength and quality of the construction material used. 
 
This is even truer when you live in an old house that was built long ago you think either to sell it or to buy a new place to live. But wait we have got something new for you. If you are looking for renovating your place not only with a beautiful architect but by providing it with a really good strength lustrous and waterproofing you are in the right place because at KNOX our team with a knowledgeable approach, notable performance, outstanding service and excellence redefined. 

 

Many homeowners choose to renovate their homes to give them a whole new look or simply to attach more value to their property by enhancing its interiors. An increase in the number of family members is also one of the basic reasons why homeowners add more floors and rooms to their houses. Before you decide the time and the budget to renovate your house, a thorough inspection of all the areas inside and outside the house or apartment is a must. Here’s a checklist to follow so that you don’t miss out on anything important.

  • Seepage of water lines laid 
  • checking dampness in the kitchen sink/cabinets
  • Fungal/termite growth in damp areas
  • Cracks in the walls
  • Leaky pipes in the kitchen/toilets/wash areas
  • Broken tiles
  • Waterproofing of the terrace
  • Peeling paint from the plastered walls
  • Faulty plumbing like a leaky faucet, water tank overflow
  • Safety locks/doors
  • Balcony renovations
  • Furniture and fixtures 
  • Electricity lines 
  • Interior architect 
  • Positioning 

Last but not the least, as the rainy season is gradually approaching, it is advisable to inspect your home for the above-mentioned flaws and get them rectified with KNOX. Once the monsoon hits its peak, it is difficult to carry out construction or renovation work. 

You should also consider your budget before committing to the house renovation work. It is a task that might attract some extra cost as the process of renovation goes ahead.

 

KNOX also recommends you consult a professional architect, an experienced contractor, a mason, an electrician, and a plumber before you set out on the job. Since monsoons are round the corner, here’s an interesting piece on how to waterproof your house, from our experts at KNOX. We all know Renovating a home is a huge task that requires a serious amount of attention to all the details. But, if you set yourself up correctly with a clear plan in mind, you can spare yourself some of the headaches. 

Whether you're planning a quickie DIY bathroom reno or inviting an army of tradies into your home, here are the top 10 most important things to think about before you renovate.

 


 

Figure out what you want out of your renovation.

Are you renovating to flip or are your intentions more long-term? It's important to know what you want to achieve with your renovation and why. If you're renovating to avoid moving, the work you do now should still service your needs in a few years. Think about how many bedrooms and bathrooms and how much living space you'll need in the future, particularly if you have a growing family.

Improving your own home to enhance its livability for your family will generally entail a very different approach than fixing up a rental property.
In the former instance, it's about comfort more than cost and compromise. Of course, you don't want to over-capitalize, but it's not as critical that you have a significant financial margin between what you spend and what you stand to make. However, if the plan is to grow your rental yield and increase the equity in your property, you must focus on the financial considerations first and foremost.

The process must be based on hard facts and logic rather than emotion. Before you start stalking kitchen showrooms, figure out what you want out of your renovation. Let the big picture guide your decisions along the way. Homeowners planning to stay somewhere long-term might consider premium materials, to make life more comfortable.

Those planning a quick sale should aim to make the home attractive to the broadest range of potential buyers, without breaking the bank.

Even if you're not planning on selling your home immediately, still consider how a reno could increase its value. A good rule of thumb is to spend around 10 percent of the value of your home on a kitchen reno and approximately five percent on a bathroom reno.

 

Do you have the necessary knowledge?

Maybe you've spruced up your own home and feel confident taking on a project that's all about the profitability. But one DIY job does not make an expert. If renovations were so easy to cash in on, why do so many people walk away no better off at the end of a very exhausting and stressful experience?

Firstly, you need to be aware of which jobs you plan on undertaking, if any, require council permits, and how to go about the application process with your local government authority. Then there's due diligence to measure the project's viability, risk assessment and mitigation, time and cost management and contingency planning, coordinating tradespeople and various building processes to work through.
 

Engaging a suitably qualified builder or project manager to oversee your renovations is advisable and we here at KNOX help you with the best of our highly qualified professionals to serve you.
 

Realistically assess your budget.

Understatement of the day: renovating is expensive.

Be realistic about how much you can afford. Get quotes in writing from at least three builders and be clear about what these do or don't include. You can expect to pay around 45-50 percent of the cost of materials, 30-35 percent on labor and 20-25 percent on fees, taxes, GST, and levies. 

Remember to include additional charges such as storage and council permits. It's good to know whether you're biting off more than you can chew. And whether it's worth chewing even harder. Obtaining an estimate of costs from a builder or quantity surveyor before making any big decisions.

Research finance options to ensure the renovation is as cost-effective as possible. And don't underestimate the pressure a huge mortgage can place on family life, especially with young children. If you're short on cash, talk to your bank or financial advisor about extending your current home loan, refinancing your mortgage, or getting a construction loan.
 

If you've hired a project manager at KNOX, you won't have to keep track of costs and timelines. As with Keeping invoices, receipts, and contracts we plan safe and organized, and make notes in your calendar about deadlines you need to meet so the project will run smoothly.

If you're managing the project yourself, KNOX recommends you to write a diary of what's happened on-site each day. This helps ensure the renovation is on track and also gives you specific dates to refer to if problems arise with tradespeople or deliveries.

 

At last we just suggest you be aware that if your project becomes a more significant scale undertaking and you need to seek additional funding from your lender, you may have to do a bit of debt restructuring to make the figures work.

 

What's your Motivation?

If your renovation is motivated by increasing the value in your property, you can contact KNOX agent. Ask what sort of features are sought after in the area and what you could do to improve your home. If you're restoring an old property to give it a new lease of life, remember that these often hide major structural issues. Allocate a good portion of your budget for any surprises that might be unearthed.

 

Consult the experts at KNOX

If you're planning a DIY renovation, contact KNOX to learn about any relevant regulations. For bigger jobs, it's essential to ensure your house can support the work you have in mind. Experienced builders and qualified building inspectors at KNOX can advise on this. If you're engaging a builder, they should be able to guide you through the council process to get planning and building approvals in place. Don't forget to check their references or view examples of their work.

A KNOX interior designer will make sure your home looks flawless, but they can be pricey. If you're on a budget and are willing to trawl the shops (and the web) to find the materials you're looking for, an interior designer might not be an essential part of your renovation.

Architects traditionally act as project managers. You can also engage the services of a KNOX specialist project manager if you're not going to oversee it yourself.

 

What about Tradespeople?

What makes a good tradesperson?

You need to answer this question before you even start scouring the Yellow Pages for the professionals you'll require on-site.

Quality workmanship at a reasonable price is the first thing that comes to mind, but availability and reliability are just as important.

Some of the ways you can source good people for your project team include:

  • Referrals from friends or colleagues
  • Ask at your local hardware store – they'll often have ongoing relationships with tradespeople and come to know who's more reliable
  • Stop at nearby worksites and ask for business cards
  • Chances are you'll end up working closely with the various tradespeople you employ, so make sure you can sustain a good relationship and effective communication with them.

 

Who's going to live there?

 

The number of adults and children who will live in the house, and how long you plan to stay there, affect decisions about how many bedrooms and bathrooms you'll need. If you're considering adding two or more bedrooms, think carefully about whether you'll be overcapitalization. 
Some experts believe you shouldn't spend more than 10 percent of your home's value on a renovation, but if you're planning to live in the house for ten years or more, this may mean overcapitalization in the short term.  

 

How do you find 'the one'?

We are talking about a property that presents with ideal development potential to realize a beneficial return on house property. To recognize a 'renovator's delight,' you need first to determine what type of profit it might deliver. Ideally, you should aim to achieve $2 in added value for every $1 spent on cosmetic improvements.

You don't want to overcapitalize by paying too much for the dwelling before you even get cracking on the Renos, so it's critical to know the location and get a good handle on comparable values.

Consulting KNOX real estate agents to find out what buyers and tenants expect from the property in the area is advisable to determine if the investment you're considering will deliver a profit.

How much time can you spare?

If, like many, you work upwards of 50 hours per week, can you expect to take on a significant renovation project all by yourself?

To complete refurbishment on time and to budget, the reality requires someone to be on-site to direct proceedings and make sure things run as smoothly as possible. If you can't commit to the necessary hours and days, employ a KNOX-qualified project manager. Although their fees may add another ten or so to your overall renovation costs, it is likely to be a worthwhile investment. Remember, the longer it takes to complete the renovations on your asset, the longer it will take to start generating that all-important cash flow from your rental property. Furthermore, failing to schedule the appropriate trades at the right times and working toward a well-thought-out schedule often means lost opportunity. In short, while one project drags on indefinitely, you are potentially missing out on other investments that could see you grow your portfolio sooner.

 
   

Get the timing right.

Delays can be infuriating and costly. That's why it pays to think about timing before you revamp your home.

Ideally, you don't want your shiny new floorboards installed before the cabinetry. Or your Caesarstone bench put in before the new ceiling is in place.
Also, decide whether you need to move out while the work is underway – especially if the bathroom is going to be out of action for a while. Picture all the elements of a room before you start.

 

 

If you're going to shell out big bucks on a renovation, you want it to look fabulous. That means deciding from the outset how you want each space to look. A KNOX interior designer or decorator can help. They will take you through a process to draw out your style and bring it to life, giving you guidance along the way.

This includes working to a budget, and using drawings, mood boards, and samples to craft the look you want. 

 

 

If you're going it alone, scour magazines, books and blogs for inspiration. Start a file or board on Pinterest to store your favorite images. Look for recurring trends in your selections. Pick one or two essential items and build your design choices around them.