How to make the most of the Corona Virus Lockdown to plan your reno.

We are all stuck inside for so much more time than we are use to. If you were planning to update your home with a renovation this is valuable time you can use. Here are 5 tasks you can start while you are in lock down.

1. Ask your council for your original plans. You need to have your original house plans so your architect can see what envelope we are working with. This will also confirm your land boundaries and any pits or council services that you can’t build on.

2. Start a crap book of ideas. These days you call them Mood boards but you can start one of these on Pinterest or Houzz. This gives you time to consolidate ideas about what you like and dislike. This will be very useful as you work through the design pallet and room functions.

3. Talk with your partner. We all have time together, but it is amazing how many couples haven’t totally agreed on the needs of a new renovation. Locking down those key elements takes discussion.

4. Contact your Architect. It takes time to build the plans for your renovation. You can use this 4-6months to get your plans done and finalise any permits through council. Most architects can still meet with you (all be it 1.5 metres apart) or can conduct zoom meetings online. Building 3D models allow you to walk through your project before it starts out on site.

5. Decide on a budget. The hardest step is often determining a realistic budget, but it is an important step. It helps define the design scope, finishes and sometimes timing of the renovation. By being transparent about your budget, your architect can work within that and provide a estimate of costs using an expert quantity surveyor.

So time is ticking. When you are bored at home, why not set up a Pinterest page and start collecting ideas. Ring your council for plans and book a time to talk with your architect to get started.

Celebrities share their renovation stories with Houzz

If you are in the mode of renovating then you will have heard of the Houzz app. The latest from Houzz is they are sharing celebrities stories of where the celeb has used Houzz to collect ideas and find the right architect, builder or designer. It is a great idea to share these stories as it show cases their service and makes the content extra juicy.

Here are a couple below that I liked:

Mia surprises her parents with a refurb of their apartment

Kristen surprises her sister with a house reno.

To sell or renovate?

With house prices falling flat over the past few months it is not surprising that growing families are accessing their need to renovate or move with more caution.

Some of the considerations around moving include:

1. The cost of stamp duty

2. Conveyancing ($800 to $1,300)

3. Marketing ($6,500 to $8,000)

4. Agent fees (two to three per cent of sale price – for example $15,000 on a $500,000 home)

5. Property styling your house to a sellable standard (property staging companies can charge up to $6,000 depending on the type of furnishings required and the length of time it takes to sell). 

6. expenses such as agent's commission, legal fees and stamp duty, loan fees and removalist fees. as listed above could be 10% of the property’s price

Some of the considerations around renovating include:

1. Overcapitalising - spending more on your home than you will make back. To avoid this get an appraisal from a local real estate agent. Let's assume your house is worth $600,000, and the average price in the street is $800,000: you could safely spend $200,000 in renovations. That's just over double the non-productive costs of moving house.

2. Better appliances and lowering energy costs

3. Builder doesn’t do a good job or finish the job

4. Cost of living somewhere while the build takes place.

What ever your decision make sure you do it totally informed. To understand the time, cost and functionality of your home renovation book at time with me to chat.

Victorian Stamp Duty costs