Tag Archives: renovation

Beware of Value-Killing Home Renovations

Posted on May 25, 2012 | Leave a comment

That old adage should be a warning for homeowners. What you do to a home — in terms of renovations, furnishings and additions — is all well and good while you sleep under its roof. But if you plan to sell, your efforts could diminish rather than boost its selling price.

Contact the appraisers at www.scappraisals.com for your value questions. Remember appraisers determine value and real estate agents sell homes.

A miniature backyard skate park, indoor basketball court or basement lounge complete with a stripper pole and smoke machine are the sorts of extravagances that may not directly push down your home value, but could nevertheless drive away prospective buyers or provide room for them to haggle down the price.

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Like the Location but not the House – Rebuild vs. Renovate

Posted on May 5, 2012 | Leave a comment

BEFORE

Buying a property is an act of compromise. You might like the house but not the location; the living area might be lovely but it faces the wrong way; the first two bedrooms might be big but the third is a study nook. Those were the issues that came up again and again when Hilda and David Drake were looking for a new house.

Before doing any major project contact the appraisers at www.scappraisals.com to discuss your value issues.

AFTER

The couple, and two grown-up children, started looking for a house with three equal-size bedrooms, was close to a train station and had enough room for entertaining. They failed.

What they did find, however, was that they didn’t have to compromise after all – if you build new, you get exactly what you want. So, for those who don’t want to compromise, here is how they did it, step by step.

Step 1: Find a good spot

After looking for six months, the couple came across a three-bedroom brick bungalow and picked it up for $500,750. Although it had charm, the property was in a very shabby condition.

Hilda says: ”It was very rundown, the ceiling was falling apart and the roof needed to be redone. It would have cost $20,000 to fix just that.

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Sound Advice for the DIY Renovation Novice

Posted on April 26, 2012 | Leave a comment

Broken pipes, sagging ceilings and bruised egos are some of the lesser casualties of projects gone wrong, and if you believe the stats, around half of all DIY projects end in disaster.

Paying to fix a botched job – and dealing with smug tradies – will quickly wipe out any potential savings and brownie points.

So question whether you really have the time, tools and ability to pull off a major DIY project or renovation before you reach for the sledgehammer. And heed the following advice from those who have survived it.

1. Planning and managing

It’s a fact: your planning and project management skills will make or break a renovation – as well as a marriage. So quit now if you don’t think you’re up to it. Research should be exhaustive and your plan as detailed as possible. Divide your wish list into three categories: essential, optional and desirable. Then get out the red pen.

Work out a time line and budget, allowing for a 20 per cent contingency. Make sure you get any required planning approvals and owner-builder certificates.

You’ll have a better shot at domestic harmony if you divvy up the major tasks: one manages the budget, the other oversees the tradies and timeline. And both share the drudgery of chores and daily clean up.

Disclaimer: for information and entertainment purposes only