Renovating a home for the first time can be a daunting yet rewarding task. Buying a property
which could do with some renovations can help get you onto the property ladder, enabling
you to buy at a low, affordable cost. However, unless you’re careful the cheap renovation
project you thought you’d gotten into, could soon break the bank!
If you’re looking at renovating your first property, below you’ll discover some essential tips
you’ll want to follow.
Budgeting for the renovation
Budgeting is one of the key things people underestimate when they start a renovation project.
Home renovations always go over the expected budget, so it helps to make savings wherever
To cut your renovation budget down, pick up things you need from car boot sales or charity
shops and learn how to do certain tasks yourself. DIY could save you a small fortune. You’ll
just need to make sure you have the right tools from a store such as Milwaukee, if you want
to carry out a good quality job.
Research and planning
Ideally, before you start the renovations, you’ll have researched and planned well in advance.
That way, by the time you actually come around to renovating, you’ll be an expert in it.
You’ll want to research the legalities, house prices in the area, resale values, local taxes and
The more you research, the more prepared and knowledgeable you’ll be. This will go a long
way at helping you to make sure the renovations are done correctly and at the right price.
Do it right, or don’t do it at all
It’s easy to think that any renovations will make the property more valuable. Experts claim
that the right renovations can add anything from 5% to 30% value onto a property. However,
if the renovations aren’t done correctly, it can actually have the opposite effect.
So, as tempting as it may be to try and cut corners and get away with the cheapest renovation
possible, you need to make sure you do it properly. Otherwise you’re unlikely to make any
profit and there’s a good chance you might lose money if the job isn’t done right.
These are some of the most important aspects to consider when renovating your first home. It
will be stressful, but providing you do plenty of research beforehand, you should be able to
avoid any major issues.