Major renovation mistakes

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I have made many mistakes, as you have seen everything from a purple feature wall to the expensive second toilet. The truth is you will too, however the secret is not to make the same mistake twice.

Major Renovation Mistakes

• Overcapitalising, you do not want to own the best house in the worst street
• Decorating to your taste, remember the purple feature wall
• Poor workmanship, the cheapest quote may cost you more in the future
• Delays, everything from tradespeople who do not turn up on time too wet weather
• Getting emotional and confusing the wishlist with the to do list, renovating for profit is an economical activity don’t forget this

Biggest Costs

• Roof (leaks, rotting areas, insulation)
• Stumps (sloping floors and walls)
• Rewiring and replumbing (old circuitry and copper pipes)
• Moving bathroom drains etc and waterproofing
• Pest (particularly white ant) damage
• Anything Structural
• A paid professional who can do a pest and building inspection before purchase should identify all of these issues

Surprising Costs

• Doors, invest in quality not cheap hollow doors
• Removal of rubbish
• Not factoring in your own time
• Holding Costs, mortgage costs especially when there is no rental income coming in and therefore no tax deductions for that time
• Costs of Delays
• Subdivision, DA’s, council permits
• Surprises pest, plumbing, electrical, structural