Don't prepare to fail
We live in a quick-fix world. Too often would-be renovators watch a couple of episodes of the latest DIY TV show, or some Youtube clips, and run head-long for the tools.
Put simply, any renovation deserves the proper attention and planning if you hope to bring it in on time and on budget. Create a detailed plan and price ceiling and if you’re hiring contractors or a project manager, make sure all parties are in agreement before breaking ground.
Fail to prepare – prepare to fail. Simple.
Meet issues head on
Once you start to get your hands dirty, it’s possible you may hit a few snags. Whether you’re trying to juggle multiple suppliers and contractors, or you’re just trying to spruce up an older property with decades old plumbing and wiring.
The worst thing you can do when these issues arise is stick your head in the sand. Putting off something today is only going to cause your schedule and budget to blow out.
The old analogy is truer than ever when renovating – a stitch in time saves nine.
1. Identify
Take the time to find the actual root cause of the problem facing your job.
2. Strategise
Meet with your contractors and/or project managers, find out how best to resolve the issue.
3. Implement and review
Put your solution into practice and re-assess your project timeline and budget.
Get the right mix
It’s vital that you carefully consider who’ll be doing the lion’s share of the work on your project.
There’s no harm in wanting to get involved but think carefully.
Do you DIY?
If you know your way around a sledge-hammer, or you’re just feeling ambitious, then by all means step up and have a go at some of the jobs you realistically think you can cover off.
Most of us should steer clear of any specified work, though, like cabinetry, tiling and carpentry. Painting, sanding and demolition on the other hand are easily learned, and are fun to boot…
Use licensed tradespeople
There are some jobs that are not only beyond the skills of the average DIY warrior, they can be dangerous or illegal to attempt.
When it comes to electrical or plumbing work, or asbestos removal, always consult a professional, get a couple of quotes to find the best deal, and ask friends to recommend someone with a solid reputation.
Don't cut corners
Your initial planning should give you a realistic idea of how much you’ll need to get your job done, so don’t skimp and cheat yourself out of the final product you deserve.
1. Discover your borrowing power
Calculate your budget and find out how easily you can finance your project. Our handy Borrowing Power Calculator lets you see at a glance how much you can access.
2. Get your finance right
We've helped customers own and revamp their dream homes since 1945. We get that you want to renovate and add your personal touch to your property.
Make an enquiry and start a conversation with a Greater Bank lender today and find the right fit for your needs.
Update your insurance
All too often we see it.
The proud renovator puts the finishing touches on their new pool, or pool-room, and forgets to update their Home and Contents Insurance accordingly.
You’ve put your heart and soul into making your patch that little bit better, so make sure you give it the protection it deserves.
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Interest rate
5.94
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p.a.
Comparison rate
5.95
%^
p.a.
~Discount variable rate, owner occupied, principal and interest
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Interest Rate
6.13
%#
p.a.
Comparison rate
6.50
%^
p.a.
~Discount variable rate, owner occupied, principal and interest
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Interest rate
8.80
%
p.a.
Line of Credit home loan base rate
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Interest rate
6.19
%#
p.a.
Comparison rate
6.56
%^
p.a.
~Discount variable rate, principal and interest
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Interest rate
6.09
%#
p.a.
Comparison rate
6.10
%^
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~Discount variable rate, principal and interest
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