Home Improvements – 5 Things To Consider

By April 29, 2021 May 17th, 2021 Personal Loan

Performing home improvements is a popular pastime for many Australians. Everyone loves to spend time in a home that’s fresh and updated, and doing home renovations also adds value to the property if you ever sell it.

In this article, we’re going to be taking a look at some practical tips for remodelling your home and some things to consider, so it all goes smoothly and you have the money you need to complete the project.

#1 – Figure Out Your Project Budget First

It’s only appropriate to list this point at the beginning, because working out a budget for your home renovations should be done at the outset during the planning phase. Your budget doesn’t have to be set in stone right from the beginning, but you should at least have a fair idea of what the overall project is going to cost you before you commence.

Obviously, you’re going to need money to get those home improvements done. Whether this comes from a loan or savings depends on your circumstances, but the point is, you want to know what you’ll be up for before you even think about breaking out the tools.

You can always revise your budget as your project becomes more defined.

Another idea is to add about 10% to your final tally. This is to cover unexpected costs that you may not have thought of.

#2 – Book Tradies Well Ahead of Time

Unless you’re a licensed plumber or electrician, you’re likely going to have to hire tradies to take care of some aspects of your home improvements. First off, you’ll want tradespeople that are renowned for being reliable and offer fair rates. Once you’ve settled on some tradies, book them well in advance, so you can be sure they’ll be available when you need them.

This is a critical aspect of the home renovation project, and one that could bog your project down if you’re not organised in this area. You won’t be able to fully complete renovations until work that requires a licensed tradesperson is completed.

#3 – Have a Plan and Follow It

Having a plan isn’t all about having building plans, it’s also about things like timelines to finish various stages of a project, which stages are most critical and need to be done first, and even things like how you’re going to manage living in a home that’s in the middle of being remodelled.

Just like you need a budget for your home renovation project, you also need a general plan that includes just about everything you can think of that’s relevant to the remodelling process.

As you start mapping out your plan, you’re bound to think of more things to add to it as time goes by and the project becomes clearer. Also, be sure to get feedback from everyone living in the household as you put your plan together.

#4 – Be Aware of Local Building Regulations

It’s wise to check with your local council or governing body regarding any building regulations and inspections when it comes to performing home improvements in your area. You don’t want to get things underway, only to discover you’ve done something wrong or didn’t consult the council about your project.

Not only could this scenario stifle your project, if you go against any regulations that you were unaware of, but you may also be asked to make alterations after the fact, or be told your project doesn’t meet their approval and needs to be stripped.
It’s always best to check all of this first before lifting a tool or spending any money.

#5 – Get a Home Renovation Loan To Finance Home Improvements

If you don’t have the money on hand to commence work on or complete your home improvement dreams, then applying for finance is a good option to get your project underway.

Cashify specialises in helping Aussie homeowners finance their home renovation projects. We can tailor a finance package to suit your specific requirements so you can get your remodelling underway sooner rather than later.

We offer a range of competitive Personal Loans and Renovation Loans, so get in touch with us and have a chat about your project.

Disclaimer: Please note this content is of general nature only and does not take into account your personal objectives, financial situations or needs. For advice tailored to your financial situation, it is advised that you seek guidance from an accountant or financial advisor. The information contained in this article is correct at the date of publication.