Most people overspend when building or renovating. We all start off with the best intentions of not extending spending over that magic number, but it is so hard to not to go down that designer rabbit hole given the immense influence of glamorous social media accounts that lure you into a world most of us can only dream of living in.
Research and keeping emotions at bay will help the spending from skyrocketing into the universe above.
Find out what is selling, and what buyers (or renters) are looking for. For example, a 2nd bathroom will likely be more appealing than the previously much lusted after butler’s pantry.
Alice Stolz, Domain’s national managing editor says, “there will be an expectation that along with your bulter’s panty you have a 3/4 bedroom home, multiple bathrooms, maybe a pool." And if you can't follow that same level of luxury throughout the rest of your home, you're better off not doing it – “there's no point having a butler's pantry and not having an ensuite off the main bedroom," says Alice.
Fixtures & fittings also can send you into an out-of-control spiral. The amazing selection in the market now boggles the mind – tread carefully. Spend the $$$ on hardworking items like tapware & good quality appliances (there is always a SALE somewhere)! Choose finishes throughout carefully selecting simple, neutral & timeless tiles, flooring & joinery. If colour is your bag the local paint shop will be your best friend -economical and easy to change if the next owner of your property hates the cerulean blue you have painted the loungeroom.
Whether you are improving a property for potential sale or building your forever home, it is so important in these days of ever-increasing costs you are patient, do your homework and enjoy the journey.