Planning a reno to finish on time

In a world where we are used to instant results, property renovation definitely sits up there as one of life’s most stressful experiences. With much of it outside of your immediate control, it’s like conducting an orchestra through a piece of music. You can’t get to the final chord if the flute section is waiting for the music. If you’re thinking of renovating and need the project to finish on time, here’s how to make it work.

Understand your goals
Know what the aim of the game is. Are you set on increasing the property value? Are you simply renovating for your own personal needs, or are you renovating for sale? All of this will help you make quick, time-saving decisions along the way – keeping your project well on track for completion.

Stick to the plan
When the architect or building company has finalised your plans, make sure any necessary council approvals are in place and you have a comparative set of builder quotes ready to go. Three is always a good number to work with. Remember, the price of materials can fluctuate significantly across a period, so have a contingency budget at the ready and be prepared to use it.

Project manage
The best way to keep a renovation on track is by using a project manager. This role acts as an impartial conduit between the owner, the architect and the builders. You can take on this role yourself, but having an independent buffer in place can help avoid direct conflict and potential delays.

Be realistic
There will be hiccups, there will be setbacks, and there will be dinks in the budget. The trick is to be adaptable, find solutions and keep the project moving. There is more than one perfect colour, or tile, or sink out there – just keep your sights firmly set on completion.

  • SHARE

Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.


© 2017-2024 MoneyQuest Australia Pty Ltd, Australian Credit Licence 487823