The older the dwelling, the greater the likelihood of variations occurring due to unforeseen circumstances. When renovating it is necessary to bring your building up to current day requirements. For example, walls or floors may not be level or square, rotten timbers may need replacing, window and door openings may not be flashed correctly or to current day standards etc.
Chances are the older the building is, the higher the chances of some hidden surprises.
Your insurance company will require your builder’s details for this.
Your builder should carry his own public liability and statuary insurance polices which can now be combined into one.
Numerous times over the years we have received plans for pricing from clients who have told their designer they have a budget limit of, for example, $150,000.00. The client then receives the plans thinking that what they are looking at is achievable with what they have to spend. Sadly they then find out when prices come back from different builders that their home renovation ideas and plans are nowhere near that figure. They are then in a position where they have out laid a decent amount of money for buildings plans they can’t afford to build.
Make sure your designer understands your home renovation ideas, your budget and designs something that will work for you so you do not waste money on something you cannot afford to have built.
Lastly and most importantly make sure you are comfortable with the contractor of your choice and you are confident they can deliver what you want.
If the renovations are to improve your home, when considering the cost of the renovation you should also consider what effects the renovation will have on the functionality of your home and the improvements it will have on your family and lifestyle.
Consider how long you intend to remain living in the property and how everyday life would work better with the renovation. Ask yourself “what is that worth”?
If you are looking to renovate and the sell on to make profit, know your market and do not over capitalise by spending on renovation ideas that are too expensive.
We recommend you factor in 10% to 15% over the contract price as a safeguard, just in case it is required.
This will help make sure you don’t run out of funds and ensures your renovation job actually gets completed.
Eaves, cavity systems, weatherboards, brick, concrete tile or longrun roofing, to name a few, are products and systems that work well with New Zealand weather conditions.
Ask your designer and builder which building products are good to use and why they recommend them.
Different aspects of your renovation require producer statements, warranties, guarantees and certification: waterproofing, aluminium joinery, plaster work, gas fitting, electrical, to name a few, all need to be signed off and certified. Make sure your licensed building contractor issues you with copies of all the certificates you will require to achieve the final Code of Compliance at the completion of your renovation project.