Building a Home in New Zealand

Usually renovation of ones property is undertaken for one of two reasons. The first to improve the dwelling or bring it to a state that more suits the owners needs. The second reason for Renovating Your Home is to maximise the attractiveness of the property prior to putting the property on the market.

Whatever the reason, renovation must follow a simple set of Renovating Rules if it is to be successful. The renovation path is a little scary; it starts off with good intentions and high hopes but is carried out without rules can quickly become a nightmare that will put unnecessary strain on ones bank account and relationships.

The Rules

1. Do Some Research

You would not run across the road without first looking, the same applies here. Get out there and start looking around. Go to open homes of similar houses which have been renovated and get some ideas. Browse some of the hundreds of magazines that are on offer in the interior design and home improvement fields.

One you have an idea of the scale of your renovation get some builders in to confirm the costs you should have in your mind. You may be surprised at the difference in your estimate to theirs. Also if friends have had work done recently make sure to ask them for recommendations of tradesmen, a piece of advice can save you in the long run.

Remember that if you ask tradesmen for a quote for the entire job, they will add extra on for unforeseen situations. This could lead to benefiting you or the tradesman depending on how the job proceeds. If you ask for a charge-up, which is basically an pay by the hour rate, you will pay for every hour the tradesmen are there, this could be cheaper for you if the job runs smooth, however if there are any problems with the process this could end up costing you a lot more.

Also worth noting is that character houses tend to have more nastiness hidden behind gib board and floor boards than a younger house. So while it is nice to fix up and old character home, remember that building codes and codes of compliance are a recent thing and there is no telling what is waiting for you once you start.

Once you have your quotes and an idea of price and the budget that will be required, the length of time it may take it is time to see can you afford it.

2. Sort out your Money

Now that you have a ball park figure of how much the renovation is expected to cost it is time to get your money sorted out.

It is worth allocating at least 10% extra to your budget as there will be unforeseen problems that arise during the process.

Depending on the scale of the renovation it may be necessary to extend your mortgage or get a construction loan. If this is the case pay a visit to your lender and see how they can help you get the finances required to undertake the job.

You need to know how much money is available to you in order to make critical decisions in the renovation process.

3. Talk to the Experts.

There is nothing trades people like to do more than talk, let them, invite them around for a quote and ask their advice. They will be happy to give it. Get as much advice as you can, you never know what might be useful.

If you plan to do the job yourself ensure that you have some idea what you are doing. You may be amazed at the range of skills required for this sort of job and may cost you a lot more in the long run.

4. Fix your Budget and Stick to it.

The most important rule of all, set you budget and stick to it. You have done your research and added more in for the unforeseen so sticking to your budget shouldn’t be a problem. However there is always the urge to upgrade or go the extra mile, don’t stick to your budget, stick to you budget, do you need me to say it again? Stick to you budget.


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