5 expert tips to help you prevent a summer renovation disaster

Ceyda Erem   |   07 Dec 2018

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If one of your new year's resolutions is to finally get started on that new kitchen or walk-in wardrobe, then you’ve probably already started doing the research on things like colour swatches, wood grains and how you're going to pay for it all.

And while you may have got the colour scheme locked down, there are a few other things you’ll to consider to avoid a reno disaster.

We sat down with Mozo’s Property Expert, Steve Jovcevski to get his expert tips on how you can kickstart your summer renovation the right way.

Know when to DIY and when to step back

Depending on the size of the job, there will be plenty of opportunities to roll up your sleeves and get to work.

But while there’s no better feeling than doing something yourself, Jovcevski advised it's still important to accept that sometimes, some jobs are best left up to the pros.

“For smaller scale tasks, like patch up jobs it’s not a bad idea. But again, it depends on the confidence level of the person. If you’re a practical person who does things around the house all the time, then go for it. But just keep in mind some jobs are a lot harder than they seem,” he said.

“But if you’re doing anything that involves electricity or plumbing, you have to get someone who knows what they're doing.”

Find the right people for the job

Speaking of pros, it’s critical to find the best person to do the job, so you’ll need to do your research when picking tradies and electricians.

Jovcevski suggested talking to previous clients of tradies you are interested in and find out if they were satisfied with the result, as well as what they were like to work with.

“Get references and read reviews online. You need to know whether they’re able to do the job and do it perfectly,” he said.

However, Jovcevski has reminded Aussies of the importance of being clear with design when it comes to hiring builders.

“This is one of the biggest problems homeowners go through - you need to be specific in what you want. If you want tiles put in, specify the type you want,” he said.

Have the right insurance ready to go

While the last thing you want to think about is an accident or your home being broken into, having the right insurance in place is a non-negotiable.

“Before you start renovating, you need to let your insurer know so they’ll still cover you if something happens during the work,” said Jovcevski.

“If you’re temporarily moving out, you’ll need to have proper building insurance ready. And it’s also important to be on the safe side and make sure all your builders are insured before demolition starts.”

But according to Jovcevski, it’s not just your insurer you should worry about, but the local council.

“Approval from the council or certifier is also a must. They need to come down and inspect the area before you start and during critical inspection times.”

Sort out your budget before starting

Whether your budget is small or large, it’s important to work out your spending limit and schedule before you start knocking down walls.  

“Planning ahead is essential, especially when it comes to your budget. You’ll need to know well in advance the materials that need to be bought as well being prepared to pay your builders,” he said.

“The last thing you want is to overspend because you didn’t have everything you needed in the first place.”

Pick the right personal loan

Taking out a personal loan to fund your renovation is a popular tactic, but Jovcevski has reminded Aussies about the value in shopping around.

“Don’t accept the first offer you see, take the time to shop around and compare your options. The first thing you need be aware of is the interest rate - if you think it’s too high, chances are it probably is,” explained Jovcevski.

“Having a low rate and minimal fees is essential, but keeping an eye out for extra repayments and a redraw option is also a good idea because it can reduce your interest bill in the long run.”  

So if you’re ready to give your home an upgrade, make your first stop our personal loan comparison tool, or you can check out some offers down below.

5 personal loans to kickstart your summer renovation - rates updated daily

  • Promoted

    HSBC

    HSBC

    Unsecured Personal Loan (Fixed)

    8.50% p.a.to 16.99% p.a.

    9.06% p.a.to 17.53% p.a.based on $30,000
    over 5 years

    $150.00upfront and $5.00/month

  • Promoted

    Harmoney

    Harmoney

    Unsecured Personal Loan (Fixed)

    5.95% p.a.to 28.69% p.a.

    6.64% p.a.to 29.55% p.a.based on $30,000
    over 5 years

    $500.00upfront and $0.00/month

  • Promoted

    Australian Military Bank

    Australian Military Bank

    Unsecured Personal Loan - Excellent Credit (Variable)

    7.88% p.a.to 18.82% p.a.

    8.72% p.a.to 20.22% p.a.based on $30,000
    over 5 years

    $100.00upfront and $10.00/month

  • Promoted

    ANZ

    ANZ

    Unsecured Personal Loan (Fixed)

    12.45% p.a.

    13.32% p.a.based on $30,000
    over 5 years

    $150.00upfront and $10.00/month

  • Promoted

    NAB

    NAB

    Personal Loan (Variable, Unsecured)

    12.69% p.a.to 18.69% p.a.

    13.56% p.a.to 19.53% p.a.based on $30,000
    over 5 years

    $150.00upfront and $10.00/month

^ The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms below, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. ^ Based on $10,000 over 3 years ^^ Based on $30,000 over 5 years

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