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Home Living : September 16 2008
2 HLN - HOME LIVING: NORTH, Tuesday, September 16, 2008 Renovation wrongs Above: The cost of repairing structural cracks can run into many thousands of dollars. Inset: Ugly decorating will devalue a house. Renovating your home can add considerable value. However, personal taste, overindulgence on themes, and an incorrect assessment of the market desires, trends and needs can devalue your home considerably. Imagine spending $30,000, $50,000, even $100,000, on your renovation only to find that in doing so you have damaged the original value of your property. The fact is, many homeowners spend tens of thousands of dollars on so-called improvements only to find that their expenditures have not added significantly to the value of the property. In some cases, the value decreases. People have to consider the market their house is in. Renovations change the market for that house. Owners can go to great lengths to create detailed plans for their renovations, including fittings and color schemes, without taking the resale market into consideration. One of the biggest mistakes is when owners include more expensive fixtures and fittings into their renovation when mid-range products would have met the market's requirements. Some fittings, such as toilets, can range in price from $300 to $1500. When selling a home, renovators should consider whether the same -- or more -- dollar value will be added to the house value. A critical component in assessing the suitability of a home for renovation is the structural integrity of the dwelling. Money spent on re-stumping, re-wiring and re-plumbing, while essential to meet building standards, may not always be recouped. Costs in the range of $20,000 to $30,000 on these items alone can be incurred, in addition to the renovation costs. So what are the top five renovation wrongs that are certain to devalue your home? One: Over-capitalising -- makes the house more expensive than the market is prepared to pay. Two: Add-on -- the extension or addition looks like a poorly integrated add-on. Three: Ugly duckling -- personal tastes and themes that are not in keeping with market desires. Four: Do it yourself -- untrained people should not undertake works such as plumbing and electrical fitouts which should be done by tradespeople. Five: Jerry built -- poor quality renovations can show cracks between the existing and new work. So investigate, inspect and plan before you start renovating. Prepare budgets and stay within those boundaries and you'll renovate successfully every time. Details: Visit www.renobrothers.com.au or email firstname.lastname@example.org HOMELIVING RENOBROTHERS Renovation experts Matt and Simon Judkins show you the way to make DIY easier DETAILED JOINERY Plantation Shutters 24 Orchard Road Brookvale www.sarmax.com.au Just a few reasons to call Sarmax NOW for your free quote Privacy Noise reduction Ventilation Light control Insulation Low maintenance Cedar or aluminium Custom made High quality Local family business Your team that thinks outside the square Call us today 9905 8422 Save $ - buy direct from the manufacturer 2347884i hln wk5 TIME 4 TIMBER 24 Ada Avenue, Brookvale Fax 9905 3316 www.time4timber.com.au Phone 9905 3314 2083608im 12/8 wk7 We specialise in DETAILED JOINERY and TIMBER FIT-OUTS Do you need RARE, EXOTIC TIMBERS in your home? Mackay Cedar Raintree Lots more... River Red Gum Camphor Laurel Burls Australian Red Cedar Blackbutt Dining Tables Kitchen Benches VanityTops Bar Tops Boardroom Tables Custom-made Furniture Bench Seats Coffee Tables Slab Flooring Kitchens Entertainment Units SALE ON NOW... Showroom stock only cumberlandnewspapers.com.au 2189101 Inspiration, innovative products and practical solutions Each week Home Living provides you with the latest in renovation, interior decorating and design Introduce your business to over 1.8 million* prospective customers. phone 9689 5395 *Roy Morgan Readership Survey, September 2006
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