06 April 2016, 08:15

Renovating homes now had become a new trend as property owner tend to make their properties too be up to date. Renovating can cost a huge amount of money so it is an issue to be listed in a budget list.

Careful planning is an essential action before renovating a house because we don’t our money to be wasted. Cash now flows out like a strong current in a river so we have to plan genuinely and wisely. Houses should be maintained well because they don’t come cheap now and it is one of the property where the price never drops so good maintenance is a key to future.

Firstly, one should plan before they do something. This will prevent one from overspending. Making a list of what we want is a rational action because this does not only saves our time but also saves plentiful of time, we as a human tend to forget things after sometime so by writing down what we need will help us to remind us. We can go slowly by renovating one portion by one so that the amount doesn’t look huge and burdening. Each portion has a lot to be listed and planned before executing the plan.

Contractors don’t come cheap by the way so planning is essential. Secondly, we should not be scammed or cheated by false advertisements published by renovators. We should make a deal with only the trusted and the one who knows what he is doing. This will prevent many things such as budgeting over the limit, stopping the renovations halfway, extended duration of renovating and etc. So one should thoroughly investigate the quality of the contractors before making any further decisions so it is up to our expectations.

Thirdly, get the materials for renovating by our own effort. This is to avoid high priced material to be purchased and exceeding our budget list. We won’t be able to know where the contractors is getting their products from as it could be low quality materials. This is not new nowadays as many scams are spreaded all over the world. We are more vulnerable now to be cheated so careful inspection in everything is necessary. Low quality products will look new when bought but after few years it will show its colour.

Last but not least, make savings in bank for renovation because renovation are expensive and loans are very hard to get now. As a precautions having some savings might help us in future to deal with a few things. Minimum cost for renovating is as high as 10k depends on what is the size of the renovations. It is very easy for the budget to be exceed beyond our expectations as the living cost and prices are increasing steadily and not getting any cheaper. We must not forget to take note of GST ( 6% ) to be included in whatever we buy. Budgeting will help us to picture the amount of money to be saved for the renovations to be proceeded.

 

Written by : Dinesh A/L Selvaraj

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