When you have lived in a house for a good number of years, you can’t help but come across the idea of a renovation or makeover to counter the effects of wear and tear.

But mind you, a house renovation is no laughing matter. 

It can turn up to be a costly proposition especially when not everything that you can plainly see during an inspection can end up worse than expected. There could be structural issues hiding in plain sight that could end up costing more when having it done.

Question is, up to what point do you consider renovating your home? 

You want to see your house back in great shape but don’t know where to begin. Unless you find out which areas of your home need fixing up, you’d be scratching your head and going around in circles not knowing what to do.

This is a problem that hounds many homeowners all over Australia. But don’t worry because you are not alone. An industry survey found that almost 83% of homeowners often neglect the value and benefits of preventive maintenance services for homes such as waterproofing, plumbing, pest and termite control, etc.

There are two prevailing reasons behind this such as putting off repair plans another day due to other pressing priorities or those who believe they do not have enough money to spend on such repairs.

So, what do you do? First, weigh your options and evaluate if a home renovation is a practical move or one that can be remedied or addressed by fixing only the problem hotspots

Here are some tips on how to assess your property and weighing your options.

Inspect and assess the need for repairs

Conducting a thorough inspection of your home could help you assess any damage and determine whether these are still salvageable and preserved longer.  Make a list of those areas and try to break it down by item as it will help you see the extent of repairs needed to help you come up with a budget.

Inspect thoroughly and by sections

Once you have your list ready, itemise and calculate your needs based on materials such as concrete, wood, etc.  Next is to carefully allocate a budget for each of these materials by researching the cost. 

Most hardware stores carry a complete line of construction materials and would be happy to provide you with costing to help you get started on your budget plans. Don’t forget to include costs for labour and anticipated incidental expenses.

To spend or to save money

After making your estimates, you may be able to see how much your renovation could cost you. However, should you find it too difficult to consider spending thousands of dollars on repairs why not weigh your options and see if you can still get good value by consulting a real estate agent?

You can save a lot by selling it instead of going through a major renovation without having to spend a dollar on costly repairs. You can even use your sale proceeds as seed capital for a new house. 

Try getting in touch with licensed and reputable real estate agents so you can get a good deal for your property whether to sell and make the most out of its value or you can get sound insights if it’s worth spending money to have a total renovation.