Revisiting a post from many years ago, after I had finished my first full house renovation and uncovered many old mistakes that had just been waiting to happen again.
Begin With The End In Mind
Is this place going to be a rental or your home? Structure your spending based on what role the property will be fulfilling, you only need a functional and not a dream kitchen if the place is going to be tenanted.
Don’t have the electrician getting in the way of the painters. Ripping out the vanity after the tiling is not a good idea.
Be aware of what a large task you are undertaking, from the purchase details through to the moving address issues. Plan expenditure and be aware that it can be more expensive than you first thought.
When the new shiny tiles are in place you are really going to need to replace the old stove and vanity as well as they are now very out of place.
It’s better to pay an expert than to waste time and do a poor job yourself.
When negotiating the power of cash can talk, near money is dear money.
Warn The Neighbours
Noisy renovations can be a pain for neighbours, a word or warning can go a long way towards understanding.
Look After Your Health
Renovating is very stressful. Be aware of the changes in diet and role of stress in your life, from the takeaway food to the lack of sleep, it all adds up.
Work Out Where You Can Cut Costs
A new kitchen or just a touch up with paint? Saving money in one area can allow you to spend it on something more important elsewhere.
Learn Some Lessons
I’m fond of this quote about life….. Try stuff. Some works, some doesn’t. So what?
Refine & Repeat For Wealth Creation
I can see the value in renovating. Done with skill renovating can be a fast way to transform a house from undesirable to valuable and inject extra equity into your portfolio.
…. All these lessons are personally verified from my own mistakes…
Signed…. Improving renovator!