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Home Living : September 16 2008
2 HLW - HOME LIVING: WEST, 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 email@example.com HOMELIVING RENOBROTHERS Renovation experts Matt and Simon Judkins show you the way to make DIY easier PTY LTD Specialised in Shopfront & Domestic Security Shutters • Shopfront Shutters • Window Shutters • Security Doors • Window Grilles • Automatic Garage Door Openers • Automatic Gate Openers Master Lic: 408646770 5% off your lowest genuine price 9632 1111 Fax: 9632 1399 Showroom 77 Larra Street, Yennora www.burwoodshutters.com.au CUSTOM MADE 2073808i hlw wk15 2340843i hlc wk6 built-in WARDROBES Lifetime Warranty Free Measure & Quote Custom Design Built-in Wardrobes Renovation of existing Wardrobes Sliding Mirror doors in a variety of colour frames Hinged or sliding Federation Doors FACTORY & SHOWROOM Unit 1, 183-185 McCredie Rd, Guildford 9632 5444 Lic. No, 160400C www.waratahwardrobes.com.au 2156783i hlw wk1
September 9 2008
September 23 2008