Keeping Up With Renovation Costs

Keeping Up With Renovation Costs
Let us start by stating a fact: Your home renovation will cost more than you think. Renovations are typically variable, so if you don’t plan your steps carefully, the costs can easily add up. And next thing you know you’re faced with a bill you’re not ready to handle. It could become a major financial setback that could put your family and relationship into peril. In extreme cases, it could lead to marriage break-ups or even bankruptcy. Whether your renovation project is grand in scale or modest, success lies in smart planning. How to plan You usually take on a renovating project with a vision in mind. But when you start thinking of all the work involved, it’s hard to know exactly where to start. For this reason, it’s recommended to enlist the help of a renovation specialist early on in the process. A professional can help guide you through a project that is realistic for your budget, whilst taking into account your needs and priorities. If you plan to take on the project by yourself, make sure to spend as much time as needed to figure out the exact costs of the materials you need. Consider things like shipping fees and the time it takes to finish each part of the renovation. Take note that paint needs drying, cement needs curing, etc. Find out how much renovation costs in your area Materials and labour costs vary widely depending on location. As a rough guide, the cost to renovate per square meter in Auckland ranges from $1,800 to $2,500. Anything over $3,000 is a prohibitive cost, which means you...

Home Renovations With Highest Return At Resale

Home Renovations With Highest Return At Resale
With the increasing property values, many Kiwis prefer to put their money into improving their existing homes rather than buying a new property and relocating, which is costly in itself. As well as enhancing the aesthetics of a house and adapting its use to changing lifestyles, renovations add value when it’s time to sell. While all renovations boost a property’s value, some give higher returns than others do. So which projects exactly add the most value? Kitchens The biggest value-add in will come from the kitchen, which could rake in about $50,000-$60,000 in return. Understandably, kitchens have become the social spot of many homes in New Zealand. It’s become more than just a place for cooking and eating, but a focal point for gathering and family bonding. However, looking at the 2018 figures from Refresh Renovations, homeowners actually prioritise bathrooms (19.2 per cent) more than kitchens (14.9 per cent). This may be due to the fact that kitchens are expensive to renovate. In fact, a basic kitchen remodelling project can set you back by $10,000 to $30,000. If you don’t plan it thoroughly beforehand, the figure climbs rather easily and can get out of hand. Too often, the biggest cost there is manpower. If you think about DIY-ing to cut your expenses, think carefully. Going the DIY route may extend the duration of the job, and you may even pay more in buying or renting equipment for certain parts of the project. A lot of people don’t realise that time they spend on DIY renovations is time they could be spending in other money-generating pursuits. If you want to...

Renovations In Auckland Are Becoming More Affordable…

Renovations In Auckland Are Becoming More Affordable…
The news is out: New Zealand’s economy is taking a downturn as the global economic outlook continues to weaken. According to the official statement of the Reserve Bank of New Zealand released in late March 2019 (RBNZ): “The Official Cash Rate (OCR) remains at 1.75 percent. Given the weaker global economic outlook and reduced momentum in domestic spending, the more likely direction of our next OCR move is down.” The housing market has already reached a plateau and interest rates are staying low. That being said, now’s the best time to get going with the renovation plans you’ve been putting off for years. Home remodelling is becoming more affordable, so if you have the money, take advantage of this downturn to pick up remodelling projects you’ve always wanted to make. Yes, not too many homeowners would think about renovating during a recession. And that’s what makes renovating during an economic downturn cheaper. Top-notch talent like builders, plumbers and electricians will be more available. And guess what? They will be offering their services at lower rates. Not to mention, building materials like bricks, concrete and rebar will be cheaper than what they normally cost. When the economy bounces back, prices are going to skyrocket. Of course, if you are renovating in order to make more money in the end, you need to be wise about picking the projects to spend money on. Just last year, Stuff NZ shared a list of home improvement projects that make a good investment: Bathrooms – Big or small, bathroom improvements definitely has some of the highest return on investment. This is the area most...

Erson Avenue Royal Oak, Auckland Renovation

Erson Avenue Royal Oak, Auckland Renovation
What can you do when your budget simply can’t stretch to update your bathroom or kitchen but you want to renovate your home? The answer is simple – do the rest! But how do you incorporate older looking elements in your home to a fresh new interior scheme? Our project at Erson Avenue is a great example of this. Our clients at Erson Avenue did not want to change the existing kitchen or bathroom features but wanted to modernise everything else. As you look through the pictures from our renovation you’ll see that each room looks crisp, modern and bright. This can easily be achieved at your property with the right colour choices and finishes. The kitchen at Erson Avenue was not worn and was in good shape. As the kitchen was not a large space, and the clients finances did not allow for a new kitchen design or installation, we replaced the flooring with modern wood look vinyl and painted the walls, ceiling and window frames. A new tiled backsplash was installed behind the oven and bench to provide a more serviceable and easy to clean surface. A new air extractor was installed above the oven to reduce the amount of moisture in the air whilst cooking and to remove any food smells from lingering in the kitchen. The bathroom kept the original shower, vanity and toilet. But by replacing the flooring with new vinyl that had tan, black and grey undertones it helps to tie in the older looking features and make them look not so out of place. The fireplace was replaced with an air conditioning...