Five Expert Tips on Renovating Without Breaking the Bank

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Five expert tips about renovating without breaking the bank This story was published: 1 MONTH AGO

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NOVEMBER 06, 2013 2:45PM

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CASSIE WHITE

RIGHT NOWIN LIFESTYLE If you want your home improvement to be successful divide each job up into small tasks. Source: News Limited

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YOU'VE watched a few seasons of The Block and reckon you can take on a home renovation.

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But before you start knocking down structural walls to add an indoor Zen garden, experts say there are plenty of ways to give your place a Mo ët makeover on a VB budget. Professional renovator Cherie Barber says the first thing you need to do is work out if you're going to be a structural or cosmetic renovator. "You can't really be a structural renovator unless you have a minimum of $500,000 equity behind you, whereas most people can afford to be a cosmetic renovator," she explains.

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And to avoid overcapitalising, she says an important rule of thumb is to never spend more than 10 per cent of your property's current value on the work. 1. Break it down To avoid getting overwhelmed, renovation expert Barry Du Bois, from Channel 10's The Living Room, suggests you divide each job up into small tasks. "If you're doing the whole house, break it up into rooms, then break it up into the jobs within each room," he says. "Otherwise, it can become too big and you'll lose track of where you're headed, then lose motivation and enthusiasm." 2. Get kerb appeal

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At a bare minimum, you need to get a $2 return on every $1 you spend on renovations, stresses Barber. This means investing in things that give your digs the "wow" factor. To do that, she recommends heading outside. "Cement rendering the outside and external painting will typically give you a $10 return for every $1 invested," she says.

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"So if you have a limited budget, you need to do those changes. It'll transform your property and jack up its value. "The great Australian dream is a big back yard, but unfortunately the front and rear yards are the most neglected areas of most properties."

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She's on the money: 81 per cent gardens and outside projects are left unfinished by Aussie home improvers, found a survey by Masters Home Improvement. "Install new garden beds and plants, rejuvenate old concrete pathways and driveways with a gurney and paving paint," says Barber. "These are all tricks you can use to make people think you've spent more money than you actually have." 3. Little things, big difference

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You don’t even have to get the tools out for some minor cosmetic procedures. Source: News Limited

Small jobs and finishings, such as cleaning dirty exhaust fans, updating doorknobs and handles, and painting doorframes, are all things potential buyers notice, says Peter Bushby, president of the Real Estate Institute of Australia. "They're critical. Cleanliness and presentation are paramount to people liking the property and seeing themselves living there," he says. Having said that, Du Bois says if you're going to strip off skirting boards and architraves, only to replace them with the exact same thing, you're wasting your time. Instead, give them a fresh lick of paint. "But don't buy cheap paint," he says. "You're saving about 30 per cent by doing it yourself, so buy good quality." If this is your first DIY reno, Du Bois says the first room you attempt should be the laundry, rather than the kitchen or bathroom. "Not many people see it and it's not really an extension of your personality," he says. "If it goes wrong, it's probably the most inexpensive area to fix. It's also a great way to try out all those little skills: tiling, joining, painting." 4. Look the part If you want to get discounts on hardware, appliances and contracting work, don't do it while wearing your polo Ralph Lauren, says Barber. "Like it or not, sales people judge you on your appearance," she warns. "If you walk into a store to negotiate wearing designer bling, they're going to try and extract every single cent out of you - so actually look like a tradie." And if online shopping is more your speed, Barber and Du Bois both recommend graysonline.com for discounted supplies for the entire house, from tools to furniture. 5. There's an app for that Save cash - and frustration - by downloading these popular home fix-it apps. Paint My Place: Never buy sample paint pots again. Trial more than 30,000 colours from best-selling brands, by taking a photo of the area you'd like to paint and virtually changing its colour. DIY Handyman Toolbox: Performs common handyman calculations; converts between metric and imperial measurements; calculates in square or cubic metres, which is useful when buying materials for floors, concreting, gardens and painting.