Property Project Priority Problems??
– Property Project Priority Problems:
Chances are if you are the kind of person who owns a home, at some point you will be considering renovating, extending, remodelling or just plain cleaning up!
All of the above can be a painful experience, depending on how you treat it. We think everything needs to start with a plan and we have definitely found that forming a priority list and a plan of action for each stage is definitely the key with long term goals such as renovating and extending..
There’s a few things to look at before you decide where you’re going to start, and it will be different for everyone depending on your personal priorities but there is always a few points everyone should consider because well, smart business is smart business regardless of wealth. Although if you are well off financially, you might be able to start wherever you please, but if funds are stretched or you’re trying to save money where you can, there’s definitely a list to consider before making the jump.
It might not sound so bad, but when you’re walking through 5 unfinished rooms to get to your place of sleep, a few fun loving tasks can turn into a walk through hell.
But all that aside giving yourself a list of options will definitely help!
When you look around im sure there’s a list of things you consider and a list can easily turn into an essay when you actually get to pen to paper.
First consider what avenue you are going to take in order to have labour started.
Are you going to employ contractors to do the work?
Are you going to do the work yourself?
If so, how many people do you have to help you?
Do you have the time to complete the jobs?
If you don’t, consider minimising your ‘to do’ list as much as possible. Again, you don’t want a clutter of materials and 5 half finished rooms sitting around for 24 months longer than it has to. Believe it or not, that can put a lot of strain on yourself and your relationships.
The easier you make this for yourself the easier it will be as a whole. No body finds renovating their own place, especially when they haven’t much time after the hours they spend at work, a walk in the park. Assumed that’s the case because of the majority, this plan is for you.
The first step would be, ask yourself questions of this nature:
Who is going to do the work?
How many people are there to contribute to this work?
If you don’t have any idea about any forms of renovations or developing on house or property but this is something you want to do. Find someone to help you with points of reference. For example, calling a local builder and asking him to come and assess a job for you, in both time and cost would be a great start to being able to get past your first step! Offer to pay the builder for his time of course, that way he will justify spending his time thinking about a beneficial plan for you. Or if you are well organised and know where to look, do some research yourself online. The answers are easy enough to find in order to get a good look at some of the following points!
Once you have established a mental break down of who is doing what work and when a start date could be, start thinking about what area of the house takes priority. It’s not a great idea to take on multiple sizeable jobs unless you have things clearly planned with labour and budget to get the work done. Certain areas of the house, depending on their current quality can be put on the back burning while taking care of other jobs of importance are what you should plan to take on first.
Jobs that involve possible water damage, outdated electrical issues or possible power threats (the first two should never meet), and plumbing issues which would over time see your property damaged, are the first jobs that should take priority. Depending on if you seek council from a builder or qualified trade, you should run through a check list that involves inspecting waterproofing from the outside of your house to the inside. Insure there are no water leeks or holes in the external area of your buildings. Ensure that certain area’s (if in question) are pressure tested to consider if there is leaking internally in the pipes and inspect the roof area, to insure there are no cracked tiles or torn sarking causing leaks into the ceiling.
With these things checked off, you can make way for the next part of your planning, which being of the cosmetic kind.
Depending on which stage your personal needs and wants are at, the next step would be identifying the longevity of your ownership to the property. If its your first home and you’re thinking down the line you might up ship and move on, concentrate on achieving a more cosmetic plan to the work you do. This way the over all look can considerably increase the chances of sale, trying to make sure whatever work you do you try to target a broad audience for sale. Although an ROI should always be considered, achieving a higher amount for your property done in evaluation.
If the house you own is a few down the road on your life’s journey and its something you are planning on keeping, you might want to start your renovation work in areas such as the kitchen, bathroom, living areas or family rooms to increase the practical use of your space and achieving a more homely feel. You can achieve financial benefits from working like this apposed to more cosmetically based but it really depends on what area’s are appealing to the real estate and general home buyer and what kind of work has been done. Even though this is a stage plan towards getting your jobs underway without too much burden and stress, thinking ahead is the key in anything you do and considering what you want before you start is definitely a key to success. It will save you a lot of time and potentially a lot of money!
If you are keeping the house, consider what you and your family’s needs are (if you have a family). Certain rooms like bedrooms, storage, living rooms and play rooms can be a great way to make good use of the effort immediately and might just allow you some of your own personal space while you continue your renovation work on other areas of the house. If you are living the single life or you have tenants renting, that don’t need such attention then you might have the freedoms to use your space a lot more care free, in turn giving you greater freedoms with how you personalise your space. Great ideas can be things such as spa baths, hobby rooms, home theatres, and nearly any personal touch you can think of! Al thought thinking ahead should always be practised, if this space is a place you might possibly move on from in the near future try to minimise the work you that would minimise your audience, this way you have a higher chance of appealing to a broader audience, giving you a greater opportunity for sale and increased value. If its where you think you will spend the rest of our life or at least a few many years than go nuts. The choice is really up to you and in this case, where it won’t come back to haunt you! But regardless of where you are in life, remember the key is to plan ahead. Renovating can be taxing on your time and your back pocket, try to ensure that whatever plans you make they don’t clash too much with whats going on around you! Renovating can be exciting, giving you a new lease on life. Just make sure you plan to keep it that way!
After all this, its now time to sit down and plan your budget, its important that you consider what money you can allocate to you renovations or extensions before the prior points but once you have made a concrete plan in terms of physical abilities and time you can start, start allocating what money you can place into what your priorities might be. Renovations can always be a little tricky when considering unseen overheads, especially if you aren’t a qualified builder, but seeking professional advice from an architect or designer would be your best bet in getting a ball park figure, enabling you to further you planning stage and getting closer to commencement.
Finally, considering your ROI (Return of Investment) should be one of the top things on your priority list. This might completely change your personal priority list, but is of the upmost importance when considering investing sizeable amounts. Most of the upgrades you do will ensure you a return of investment but doing some research near the very beginning of your planning will help you identify how you can get the largest return for your money. Planning this way will also ensure that depending on what’s involved with your work ahead, that you complete the most important things on your list in case you run into problems or have a change of heart. Engaging with a real estate agent is a sure safe way to get a good understanding on what is going to see you the largest ROI, just make sure an inspection is done because you don’t want to waste too much money at the start of your job if there isn’t much to improve. For example, re tiling a bathroom isn’t going to see you a large ROI if the bathroom in the first place was considered of good value.
With all that said and done, you should by now have a clearer picture of what lies ahead. Ensure you make use of the steps as they are laid out, working backwards can sometimes leave you with problems and ensure that above everything that you plan ahead and have fun. Renovating can be an exciting time, and we wish you all the best!
Do not hesitate to contact us directly for any advice, we would be happy to help you with any information you need or any questions you might have. Good luck, and happy renovating!