With property prices higher than ever, it often makes more sense to renovate a home rather than upgrade to a new one. If your home is a good fit for you, but you’d like a bit of extra room or the layout doesn’t work as well as you’d like, a renovation project could save you money while still giving you the home of your dreams.
Decide What You Want from the Project
Only fools rush into home renovation projects. While it is easy to get excited about paint swatches, interior design, and home furnishings, it’s also easy to lose sight of what you are trying to achieve with the project.
Sit down with the family and discuss what you are hoping to gain by renovating some or all of the property. Do you need more living space? An extra bedroom? Or is the current décor hopelessly outdated and in need of a style refresh?
Make mood boards and spend time on sites like Houzz to see what inspires you and what turns you off. Speak to a Luxury Interior Designer in London if you think professional help is needed. An interior designer could come up with ideas you would never have considered or provide solutions to tricky layout problems.
Have a Budget and Stick to It
Any fan of Grand Designs will know common it is for people to blow their budget while renovating a property. It takes time and effort to manage all the many expenses and a lot of willpower to avoid being seduced by pretty designer furniture and stylish appliances.
Have a budget and stick to it. Don’t be tempted to spend more than you can afford. Build a contingency fund into the budget to allow for unexpected expenses, as something will inevitably come to light you haven’t planned for.
Make sure at least one person in your house is good with numbers and willing to manage the budget. Alternatively, hire a project manager to do it for you.
Be Prepared for the Disruption
Renovation projects are messy and cause a lot of disruption. Even when you think it will only take a few weeks, invariably, something goes wrong, materials are delayed, the weather is terrible, or a contractor lets you down. If you expect the worst, you don’t be disappointed!
Ideally, have somewhere else you can stay while the renovation project is taking place. Put everything out of the way in a garage or rooms unaffected by the work. Check with the contractors to make sure they are doing everything possible to minimise the mess, such as fixing plastic sheets over doorways and only using one entry point.
If you do have to live in the property while work is being carried out, be prepared to set up a temporary kitchen or ask a friend to look after your pets. It won’t be easy but there is light at the end of the tunnel!
Quality home renovations can add value and make a home more liveable. It’s a great idea to consider a renovation project if your existing home already ticks most boxes.
