Almost 7 in 10 Aussie home owners planning renovations

Australia is fast becoming a nation of renovators, with the majority of home owners reporting their desire to renovate their homes in a National Australia Bank survey completed in April.

Around 68 per cent of Aussies said they want to renovate in the next 12 months and plan on spending an average $25,000 to do so.

More than half said they planned to renovate the bathroom or kitchen with the aim to increase the value of their property or make it more liveable through renovations.

If you are thinking about renovating these areas, here are a few tips to help you survive the process.

Planning

Whether painting, tiling or revamping a room entirely, renovations can be a drain on the entire family. So, make sure you are all prepared for the work that lies ahead.

Renovations to areas such as the kitchen and bathroom can be particularly disruptive, especially when small children are concerned, so it might be best to consider alternative lodgings while in the midst of these preparations.

On a more practical note, planning the work thoroughly will help you better stick to your budget.  Allocate your expenditure early on and you'll be less likely to splash out unnecessarily. 

However, sometimes even the most concrete plans can come unstuck, so ensure you also have some funds set aside for emergencies or necessary changes to the original plan.

Remember the end goal but know your limit

While renovations can be a stressful experience with the potential to strain even the most robust relationship, it is essential to keep the end in sight.

Remind yourself just what it is you are trying to achieve as this can help provide you with the motivation to continue. However, you also need to keep your budget in mind.

There's no point going overboard and exceeding your budget, but good planning can go a long way in creating your dream kitchen and bathroom without unwanted costs cropping up.

Don't cut corners

While it can be tempting to make small changes that will help speed up the process of your renovations, make sure you don't scrimp on the important things.

A dodgy renovation will cost you more in the long run as you will need to do more repair work over time, and if you are putting it on the market, this can easily be spotted by buyers and real estate agents trained to notice small flaws.