The first common Mistake people make when renovating…..
1. Not Planning Your Budget!
So before you speak to anybody, you need to know your budget. Know what you can afford and what you would like to spend.
Keep in mind that these two numbers are never the same, so decide on your limit for the redesign & construction of your existing home.
Once you have decided on a budget, it’s in your best interest to share this information with everyone involved in the design process.
The single biggest mistake people make when renovating their home is when they either understate their budget or refuse to set one.
A professional will make sure they design your home to suit your lifestyle and fit in with your budget. Contrary to popular belief, you will not pay more for a home just because you disclose a larger budget.
You are not negotiating the price at this stage of the process!
By discussing your budget openly with the designer/builder at the beginning of the project, you’ll be able to find out if what you’re after is achievable. If it’s not and the size of the renovation is not within your budget, a professional designer can make recommendations on where to cut back based on your priorities.
It’s important to establish the fundamentals before the design work commences otherwise you will find yourself constantly redesigning your home and struggling to hit the target budget.
If you are in the fortunate position of not being restricted by a limited budget the design brief should focus on lifestyle and quality of finishes.
However, if budget is your #1 priority, capping the overall size of the renovation along with the architectural flare of the designer will be important aspects to take control of early.
Stay tuned for the next mistake….