If you're working on an older house, it's important to go into the project knowing that you'll likely face a number of unexpected challenges. While peeling back a new layer, expect the worst but prepare for the best. Ed renovated a classic cottage from the 1930s, maintaining the original look from the street but adding a sloping roof and accent walls in the backyard for a more contemporary feel.
Rules Of Renovating
Factor For Budget Blowouts
The cost of everything is higher than first-time visitors had anticipated, and this is their number one complaint. Those who fail to account for the additional expense of making adjustments frequently go over budget. As a normal practise, contractors will tack on a ten percent to twenty percent surcharge for any changes made after construction has begun.
Choose A Trustworthy Builder
The effects of hiring a dishonest contractor or builder, such as subpar results, excessive costs, and a lack of responsiveness, can linger for quite some time. Costing an extra $200,000 over the next two years, the refurbishment was redone. Check that the builders' quotes include all of the same items and allowances, and make sure you get at least three quotes.
Keeping It Real
The late Victorian house in Sydney presented numerous difficulties, such as fibro additions and the need for six floor strata. Yet, the homeowners were familiar with historic properties and had planned for expenses and construction times that were significantly higher than expected.
Have A Contract That Is Watertight
Bad contracts and homeowners being trapped in unbreakable agreements are often at the root of horror stories. In its place, a contract ought to include absolute escape clauses in regards to lateness and quality of work. If not, the contractor might claim victory over an angled wall.
Anticipate Timeline Expansions
The builder is responsible for things like placing material orders and scheduling appointments for subcontractors, but the homeowner is responsible for making some choices. Don't delay the construction process by waiting to place an order for materials that require a six-to-eight-week lead time.
FAQs About Renovating A House
A look at the past proves that historical structures and buildings can last a long time, but what about when it comes to your new home? A house will likely be the largest asset you ever purchase, and you need to know that your home will be structurally sound and last many lifetimes. But, how long is that exactly? Not to worry, we have all the information you need on how long your new house will last!
So, How long will a new house last?
This is largely debated within the construction industry as it depends on the materials used, the quality of the craft, and the maintenance that is required and followed through on. A home's generally expected and acceptable lifespan should last at least 60 years. However, many believe that the lifespan of a home is much longer than that, reaching well over 100 years.
When answering 'How long will a new house last?', one important thing is that life expectancies are only averages. There is no way to know for certain that your home will last 80 years or even 150 years. This largely comes down to a few key factors that can drastically impact your new build's integrity and shorten that timeframe, in saying that many things can also prolong it.
Existing buildings should be renovated wherever possible because this will extend their useful lifespan, enhance living and working conditions, and reduce the energy required to keep the building functioning.
When it comes to prolonging the lifespan of your home, there are a few measures that you can take. It comes down to common and basic routines that can prevent disaster from striking. Checking regularly will allow you to catch any new damages, breaks or wear before it becomes too costly or repairs or replaced altogether.
Things that can prolong the integrity of your house include:
- Regular cleaning – This prevents the growth of bacteria, mould and fungus, which can compromise aspects of your home.
- Proper separation and disposal of waste
- Check for termites, pests, insects – This prevents possible irreversible damage caused by termites, insects and pests in and around your home.
- Look out for damp walls, water leaks and seepage.
- Check for plinth, foundations and bases of any structural components.
- The right material for the needs and requirements of your house
- Regular and proper maintenance
- Renovation Costs
A "cooling-off" time of one year should ideally pass between the date of move-in and the start of renovations, according to the recommendations of many industry experts. It may seem like a long time, but this allows you to carefully consider your options and better understand how they will impact how you carry out your normal activities at home.
Just because you can afford to renovate doesn't make it the right decision. Whether you're considering renovating a house or an apartment, you should consider all the pros and cons before committing your time and money:
- Added resale value.
- It can make your home more comfortable and improve your standard of living.
- It can save you time and money by renovating instead of relocating. You can avoid all the stamp duty, agency and legal fees that come with moving by remodelling your home to suit your changing needs.
- Potential to overspend and overcapitalise.
- May have to move out of the home while works are being completed (or live in dust.
Tips For Renovating
Don't Forget About Aspects That Are Unique To You.
There are many variables that might affect the final price of your renovation, so it's helpful to have a ballpark figure in mind. Suncorp Bank's recent lending data*, for instance, shows that the national average cost to renovate a property varies significantly by region. Yet, the average cost of a home renovation in Victoria was $71,067, whereas the cost in Western Australia was only $54,377. Tools like the Suncorp Renovation Calculator** can provide a more accurate cost estimate if you already have a good idea of the scope of your job.
Your home's layout should also factor into your financial planning. When renovating a home, the cost might vary widely depending on the design aesthetic being reworked. Typical Queenslander homes, for instance, were not erected until after 1946. This is due to the fact that all of the materials necessary to construct these homes—timber—are significantly more labor-intensive than the materials needed to update a home constructed even just 20 years ago.
Ensure That Your Budget Is Bulletproof.
When doing renovations, it's important to keep an eye on the budget. Though professional builders' estimations are usually spot on, you should still set aside some extra money. The question of how large this emergency reserve should be is not always easy to answer. Experts recommend setting aside 3 percent of the total contract price as a contingency. This support is needed when you run into hidden problems, like rotted wood or rock during the earthworks phase. When your home is many decades old, further savings are well worth it for the piece of mind they provide. It's to be expected that certain oddities will crop up over the course of restoring an older home.
Small Rooms Don't Often Mean Low Prices.
Making assumptions is risky business at best. When comparing the costs of various room types, even little projects, like bathroom renovations, can easily outpace those of more prominent rooms. This is due to the fact that the focus of a refurbishment is not the surrounding environment as much as it is the quality of the materials used. In order to finish a bathroom, eight to ten different tradespeople are usually needed. Sheeting, tiling, tapware, vanities, and shower screens are only a few examples of the many different building supplies that will be needed.
Rooms like the bedroom and living room will not require the services of professionals in the plumbing, waterproofing, or tiling industries during a renovation. Even for large examples, the cost of renovating these spaces can be kept to a minimum by using fewer specialists.
Slow And Steady Does Not Win The Race.
Homeowners often try to make their money go farther by renovating just one room at a time. Kieran acknowledges that a piecemeal approach could make sense on paper, but he advises against it in practice. If possible, it's preferable to wrap up all of the loose ends at once. So that they don't have to make as many trips to the site, you can save money by taking advantage of economies of scale with the trades. It also means you just have to pack up your entire home's worth of furniture and things at once, reducing the amount of disruption to your daily life throughout the construction process.
There are a number of less obvious ways in which waiting might drive up your prices. Construction expenses, to give one example, are consistently on the rise. In the next six months, we anticipate a 10–20% increase in the cost of all woodworking supplies.
- Affordable custom work is quite unusual.
- It's true that custom work can boost the aesthetic value of your home, but it can also swiftly drain your bank account. If you are trying to save money, it may be worthwhile to investigate stock solutions.
When renovating an older property, expect fibro expansions and six-floor strata. At least three builders' quotes should cover the same services and allowances. To avoid horror stories about faulty contracts and homeowners trapped in unbreakable agreements, include absolute escape clauses for lateness and quality. Delaying a six- to eight-week supply purchase will hinder construction. Suncorp Bank financing data shows substantial variation in national average property remodelling expenses.
The Suncorp Renovation Calculator can estimate renovation costs, but homeowners should always track spending and prepare an emergency reserve. If you compare the costs of renovating different rooms, you may be shocked to learn that minor projects can quickly outpace larger, more noticeable ones. Employing fewer professionals and trade economies of scale can lower bathroom remodel costs. Waiting can increase prices owing to building fees and rising woodworking supplies. Stock solutions can save money.
- If you're working on an older house, it's important to go into the project knowing that you'll likely face some unexpected challenges.
- Check that the builders' quotes include the same items and allowances, and ensure you get at least three quotes.
- Many variables affect the final price of your renovation, so it's helpful to have a ballpark figure in mind.
- Suncorp Bank's recent lending data*, for instance, shows that the national average cost to renovate a property varies significantly by region.
- Tools like the Suncorp Renovation Calculator** can provide a more accurate cost estimate if you already have a good idea of the scope of your job.
- Your home's layout should also factor into your financial planning.
- When renovating a home, the cost might vary widely depending on the reworked aesthetic design.
- When doing renovations, it's important to keep an eye on the budget.
- Experts recommend setting aside 3% of the total contract price as a contingency.
- When your home is many decades old, further savings are well worth it for the peace of mind they provide.
- When comparing the costs of various room types, even little projects, like bathroom renovations, can easily outpace those of more superior rooms.
- To finish a bathroom, eight to ten different tradespeople are usually needed.
- Even for large examples, the cost of renovating these spaces can be kept to a minimum by using fewer specialists.
- Homeowners often try to make their money go further by renovating just one room at a time.
- It's preferable to wrap up all of the loose ends at once.
- So that they don't have to make as many trips to the site, you can save money by taking advantage of economies of scale with the trades.
- It also means you have to pack up your entire home's worth of furniture and things at once, reducing the amount of disruption to your daily life throughout the construction process.
- Affordable custom work is quite unusual.
- Custom work can boost your home's aesthetic value, but it can also swiftly drain your bank account.
- Investigating stock solutions may be worthwhile if you are trying to save money.