Page 9 - Smartline eBook - Upgrading your home
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by making it look ‘cheap’. It is estimated that only around 20 per cent of homeowners get the balance right.
You can generally avoid both problems by ensuring your renovation is in line with the market value of your property and those around it. The level of design and quality of fittings, fixtures and appliances you choose shouldn’t differ wildly to what you see in other properties in your area. Compare the value of your property in its current condition to its probable value fully renovated, and ensure the full cost of your renovation is less than this price gap. Experts advise against spending more than 15–20 per cent of the property’s original value on a renovation.
 Where should you live while rebuilding or renovating?5
Living in the home while you extend may save you money, but it can also be a massive inconvenience. Major building work means that your home may temporarily be without running water, flushing toilets, electricity, walls and/or a roof. There is also the potential for dust or other airborne particles to cause respiratory health problems.
Temporary accommodation options include short-term rental properties or serviced apartments, renting a caravan or cabin at a caravan park, staying with relatives or even house-sitting. Depending on the needs of your household, it may be worth arranging temporary accommodation despite the extra cost.
  5. www – Where to live while renovating Upgrading your home 9

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