Renovation "Training Wheels" - is there a series of steps I should follow when renovating?

1mmy1mmy on 20/07/2020 - 20:03

Hello

Hoping to hear people's recommendations for steps to follow when considering and planning and completing renovations.

About 18 months ago we bought a small worker's terrace in inner Melbourne (yes, I know we paid the premium and homes would be cheaper now). It's so small that we would like to add another bedroom at some stage (current 1 bed) and our kitchen needs some work… See the 90 year old stove (second image - https://australianfoodtimeline.com.au/metters-early-kooka/ - surprisingly funtional by the way).

So my questions are:
- when you get quotes, where do you look and what do you ask?
- do people get annoyed if you ask for general ideas regarding options and quotes? I read on a builder's AMA that just adding a room can be 50-60k and I seem to have researched to see that a kitten will cost about 15k (small, not moving plumbing).
- do you use and recommend architects or draftspeople?
- is up or out better for renovations?
- how do you work out if you're over capitalising?
- is it better to rent out a 1 or two bedder?
- what do I not know? What questions am I NOT thinking about?

I have been through the Oz Bargain and Whirlpool forums but it seems like there is a base level of knowledge that I don't have yet I would appreciate any other site recomendations.

Many thanks

Home & Garden

Comments

  • highon2str on 20/07/2020 - 20:06
    +1

    WP forums are always a great place to start!

  • oscargamer on 20/07/2020 - 20:13

    What's your budget?

    • 1mmy1mmy on 20/07/2020 - 20:16

      We'll save what we need to spend but I think it'll be 15-20k for kitchen and I don't know how much it costs to build another bedroom. Someone told me you shouldn't do little renos along the way and you should just save for a big overhaul at some stage but that would be such a long time away..

      • websterp on 20/07/2020 - 20:20
        +1

        Don't forger the current government handout for renovations. Not sure if you could hit the $150k minimum threshold but if you are doing both the kitchen and a new bedroom in one hit I'm sure you could get pretty close.

        • 1mmy1mmy on 20/07/2020 - 20:26

          Thank you for thinking of that! Unfortunately/fortunately(!?) we aren't eligible for that delicious pot of free cash form Scotty from marketing.

          • oscargamer on 20/07/2020 - 21:20
            +1

            @1mmy1mmy: The reason I asked for your budget was to see if you could spend some money on getting professional advice.

            Sometimes spending up front can save in the long run.

            • 1mmy1mmy on 20/07/2020 - 21:35

              @oscargamer: I see thank you. So do you mean you pay a builder or architect for their advice? Have you done that before/know anything more about it?

  • timthetoolman on 20/07/2020 - 20:21
    +1

    Few things, ask around with friends for trades etc, better to have a proven track record.
    They say roughly 1% of your property value to renovate your bathroom and 2% for your kitchen.
    Obviously will make more renting out a 2 bedder ( although not at an extra 60k)

    If youre living there, and you want stuff done that will improve your house and how much you enjoy it, then you cant really overcapitalise ( not literally obviously).
    If you're planning on renting it out, then no need for all the luxuries etc.

    • 1mmy1mmy on 20/07/2020 - 20:29

      Ah I haven't heard the 1% or 2% rule. Helpful - thank you. Also good advice about over capitalising/living there. I hadn't really thought of that. I'm scared about the property market diving but maybe I need to work on that.

      Don't really have any friends and family who have renovated in Melbourne as we're from interstate and our friends either rent or bought a new place. Maybe I could ask my neighbours though…

  • ssquid on 20/07/2020 - 20:50
    +3

    a kitten will cost about 15k

    Plenty of strays around that won't cost you anything.

    • 1mmy1mmy on 20/07/2020 - 20:58
      +1

      Until the vet bills! (Yes oops, my bad.)

    • Daabido on 20/07/2020 - 21:23
      +1

      Cheap tail always comes with a price.

      • 1mmy1mmy on 20/07/2020 - 21:37

        Yes, it comes back to bite you in the… Tail.

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