To Reno, or Not To Reno? questions.)

Is it really worth it?

Questioning your living situation?

The new year can bring many challenges, but one of the biggest is the question of whether your home and living space is up to scratch.

The renovation bug is dangerous one to catch. It can lead you down the slippery slope of over-capitalization and cause a lot of disruption and strife if you approach it wrong. To figure out if embarking on a large-scale home renovation is the right thing for you, we suggest you take a look at these questions and answer them truthfully.

Why?

If your honest reason for exploring this avenue are things like, space optimization, safety, functionality or necessary structural upgrades, then you are on the right route. If your answers hint at boredom, jealousy, lifestyle inflation (money burning a hole in your pocket) or simply wanting new shiny things, the it’s best of you proceed with care.

Will I be overcapitalising?

Overcapitalisation means that you will be spending more than the renovation will eventually add to the value of your home. Let’s say you bought a home in a pleasant residential neighbourhood, and you paid R1million. Now you want to embark on an interior remodel, without expanding the footprint of your home, and you budget R500k for this. The question is, – will this remodel now allow you to sell your house for at least R1.5million? If not – you might be overcapitalising.

Note: We are Homemakers, not economists or real estate moguls – for an in-depth discussion on the risks of overcapitalization, we suggest you make contact with a property expert in your area.

Am I ready for the invasion of the construction-monsters?

It’s no secret that home related disruptions are stressful and taxing on a household. Delays and mistakes are inevitable, everyday luxuries like easy access to bathrooms and kitchens might fall away, and even privacy could take a back seat while walls are knocked down and angle grinder dust gets everywhere.

Do I have a clear plan and budget?

One of the major pitfalls of embarking on a home renovation is the inevitable budget creep. No we don’t mean a creepy financial planner or banker telling you to spend less, we are talking about the way that hidden costs and unforeseen mishaps can greatly inflate the final cost of your project.

Top Tip: For a full breakdown of the ups and downs of renovations, builds or buys, take a look at our Weekly Fix about exactly this matter.

Note: If your renovations include major internal structural changes, it is imperative for you to get the right expert advice and certifications in place before you start the project.

Do I have a trusted contractor/builder?

This might just be the most important part of your decision to renovate. Your contractor needs to be your righthand man. You need to trust them, and they need to share your vision. There is nothing worse than realising you and the builders aren’t on the same page after the walls have been knocked down.

Unfortunately finding the right team can be a bit tricky. Fancy websites and well edited pictures can easily fool you into thinking the company is reputable. The best way by far, is to get a personal referral from someone you trust. This referral needs to be for work done recently that is in line with the plans you have. It doesn’t help to get a referral from a happy customer who only did a bathroom remodel when your plans include adding on a whole extra living space and creating a custom kitchen. So, word of mouth, in person inspections of RECENTLY completed projects and trusting your gut feel are all important.

Boots on the ground. (Will you be present, daily?)

“It is the eye of the owner that fattens the cow”

This Italian proverb is a truism. Without proper oversight, no project can be a real success. While you want your contractor on the scene at least a couple of times a day. The other important thing to remember is that your own eyes also need to be there. Daily inspections and immediate communication when you find something out of place, is the only way to ensure consistent and successful renovations. We aren’t making any promises, but being there and seeing the daily progress can also help to avoid the budget creep.

If you don’t feel up for this, consider getting a project manager or appointing a trusted friend or family member to be your eyes, and tongue on the ground.

In the end the question of renovation is largely driven by your appetite for risk and your ability to endure disruption. If you’ve honestly answered all these questions and you feal ready for this new project, then: Happy Homemaking! (Send us pics of your project for our Social Media shout-outs.)