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Home Renovation – Things to Keep in Mind

Renovating your home is probably one of the biggest financial commitments you’ll make, aside from buying your home in the first place. Done right, a home renovation can last you for many years and allow room to grow as your family does. When you are considering renovating your home it is very important you keep in mind both your current needs and any foreseeable needs for the future. Perhaps you want to expand your family, or perhaps you might like to have a ‘granny flat’ for one of your partners to live in as they age. It is hard to predict the future for certain, but being mindful of it can help you best prepare for a home renovation that will last the test of time. There is a lot to keep in mind when renovating your home, from making it more efficient to being aware of the costs involved. Here are some tips for a seamless home renovation:
1) Be Realistic About the Cost

Usually people go into home renovations thinking it will be cheaper than it really is and they find themselves stressed out because they have gone way over budget. There are a few ways to minimise this; get a thorough quote or two to ensure you know what is in store. Secondly, you can make sure you have enough access to money that will cover any extras that might crop up. When you’re renovating your home, you might use savings or a mortgage or a combination of both. Many people these days are buying ‘fix up’ homes where they purchase them and set to renovate them to their standard straight away. If this is of interest to you, you might like to look into low deposit home loans from Homestart so that you can save more money for renovations to get started straight away.

2) Be Energy Smart

One of the biggest costs for your home in the long run will be energy costs. From heating to powering all your electronics, electricity is not really something you can just miss out. Consider installing solar panels so that you can collect free energy from the sun, or be mindful about the type of windows you get so you can minimise your heating or cooling costs. Although these features tend to be a big outright cost, over their lifetime (and yours) they can save you a considerable amount of money, so you can spend it on the things you love.

3) Be Realistic

The truth is, we all have budgets. It is more important that you are realistic when you set out to do a renovation so that you do not put too much financial strain on yourself. You might find it better to do the house in stages, e.g. focus first on the kitchen and then update the bathroom and so on. It doesn’t all have to happen at once! Many people get really wrapped up in the renovation process and in turn end up putting substantial financial strain on themselves, so this is something you should be mindful of from the very beginning.

Home renovation is one of the greatest adventures you will embark on, so spend a little time thinking about it properly so that you only have to do it once.