Blog How to project manage your home renovations

How to project manage your home renovations

14 February 2018
How to project manage your home renovations

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Finding design inspiration is the exciting part of planning for your home renovation. However, once you need to execute the plan, it gets quite challenging. Problems may arise along the way and, without proper management, you may not get the desired results of your home renovation idea.  

Renovation project management is essential to the success of your house renovation. These five tips will help you be accomplish your renovation project smoothly.

#1 Set a goal and a budget

When setting up a goal and budget, you need to know the reason why you are renovating. Are you renovating because you want to increase the value of your house when selling, or are you renovating because you want to refresh and add comfort to your home? Each one will need a different approach to project management.

When renovating for the purpose of selling, you don’t want to over-capitalise. This is when the cost of renovations outweighs how much value it will add to the property. Also, you want your design to be appealing to many people so it’ll be easier to sell the house.

#2 Be communicative

You want your renovation idea to be as close to what you hoped or imagined it to be. To do this, you need to communicate properly with your tradespeople and builders about your plan. Never assume they know what you want. Tell them every little detail about your renovation project and be very specific about the colour, texture, and materials.

#3 Hire the right people

Tradies, builders, and contractors will play an important role to the success of your home renovation. To ensure you are hiring the right people, look through to their portfolio, and ask for reviews from their previous clients. Getting the right professionals will give you confidence in your renovation project.

#4 Know your timeline

When doing a major renovation or building a house, setting up a timeline should be part of your renovation management plan. When you finance your renovation project through construction loans, your project will be financed at each stage of construction. This means, your lender will only release funds one stage at a time, not as a single lump sum. 

#5 Check for council approval and building permits

Before you start your renovation project you should be careful to comply with your local council’s regulations and guidelines. Additionally, you should obtain any necessary building permits. You must meet the basic requirements for health, safety and structural soundness as specified by the Building Code of Australia.

Managing your home renovation project can be handled easily and successfully when you integrate these tips into your plan. Are you starting a home renovation soon? You can check out our construction loans to get you started building or renovating your dream home today!