TO renovate or not to renovate? That is the question West Australians are asking more than any other homeowners in the country. For those wondering whether a quick, cost-effective update will add value to their home, the experts share their tips on what to do and what not to do. Claire Bickers reports.
WA homeowners are the keenest renovators in the nation, a new survey says – but they also tend to go over budget and over deadline.
A survey last month showed almost half of the WA homeowners (46 per cent) were planning a renovation compared to 43 per cent nationally.
Survey spokeswoman Belinda Williamson from Mortgage Choice attributed the trend in “renos” to the popularity of reality-TV shows and the fact Perth’s home prices may be encouraging more people to renovate rather than move.
Despite the popularity of renovations, a survey by the Commonwealth Bank last month revealed that less than half of its clients’ projects had gone to plan, with many forced to cut corners or compromise in order to complete the work.
A survey last month showed almost half of the WA homeowners (46 per cent) were planning a renovation compared to 43 per cent nationally.
Survey spokeswoman Belinda Williamson from Mortgage Choice attributed the trend in “renos” to the popularity of reality-TV shows and the fact Perth’s home prices may be encouraging more people to renovate rather than move.
Despite the popularity of renovations, a survey by the Commonwealth Bank last month revealed that less than half of its clients’ projects had gone to plan, with many forced to cut corners or compromise in order to complete the work.
Of these, the average renovations nationally went over budget by nearly $3000, while in WA the average blowout was more than $6000.
Projects often took up to 95 per cent longer than expected, proving frustrating for the 81 per cent of homeowners in the west who stayed at home while renovations were being carried out.
The extra time and costs meant that 56 per cent of WA respondents were forced to make compromises to their projects, such as simplifying their designs (20 per cent) and postponing parts of the renovation (14 per cent), while some had to skimp on the quality of the materials.
The survey also showed most homeowners had not planned for extra costs, with only 21 per cent seeking financial advice.
No comments:
Post a Comment