BUILD? RENOVATE? EXTEND? TIP #6 – HIDDEN COSTS

“Should we sell up and build new, or renovate or extend? How do we know what will work best?”

The Darling Downs is full of cute-as-a-button “character” homes. Real estate agents describe them as “Classic Toowoomba Gables”, “Workers Cottages” or “Post-War Chamfer on Brick”. They are often filled with extraordinary features like high ceilings, ornate plaster work, and beautiful timber floors. They also have their drawbacks; one bathroom, one (or no) car accommodation, draughty windows, and ZERO storage! 

There are options when your lifestyle no longer fits your home. As mentioned above you can:

1)      build;

2)      renovate; or

3)      extend.

How to choose what suits you best? There is no one-size-fits-all, no average cookie-cutter answer. There are several considerations to sort through when looking at this choice.

#6 HIDDEN COSTS

“We’ve heard horror stories about renovations blowing out of budget. How can we avoid this?”

You’ve done your homework, you have your finance, you have your plans, but do you have a finance buffer? Not to scare you, but renovations can uncover things about your house you did not realise. Rotting floorboards, faulty electrical wiring, or damaged roof trusses – we’ve seen it all.

As a general rule, but certainly with older homes it is wise to expect your builder to conduct a thorough inspection, and also with their plumber and electrician when obtaining quotes. A good builder will communicate with you regarding potential issues such as asbestos, lead paint, electrical and plumbing issues prior to quoting on the scope of works. This can help stem any nasty surprises while working on the build! 

Additionally, make sure you share the specifics with your builder. It will help them give you the most accurate quote so there are no hidden costs you weren’t expecting. It’s important to get every question answered! Tell us all the very nitty-gritty details, it helps us make your dream come to life.

Leave a Comment

Your email address will not be published.