The main reasons why people decide to manage a renovation projects is because they believe they can save money and do a better job. Managing your renovation project yourself can be a very satisfying experience. On the downside, self managing is a huge commitment and will cost you time, it will impact on your own work or business and put stress on your family. Being responsible for the finished renovation and meeting all aspects of the Building Code means that unless you know the building industry pretty well, you could compromise the resulting quality of the renovation.
If you have decided to take on the renovation and self manage you will be responsible for organising the inspections, the quality control, and supervise and co-ordinate the subcontractors and suppliers. You will need to keeping in close communication with the builder at every stage of the renovation. If the builder or subcontractors are kept waiting, they might go off to another job and it can be difficult to get them back. If you want to keep them on site you will need to pay them for doing nothing while you organise materials, other subcontractors and building inspections. You got to remember that without communication your renovation is dead in the water.
The first 2 steps before starting your renovation
Plan your renovation project carefully. You need to have a clear idea on what type of contractors you need to get in such as a plumber or electrician. Think about how much you want to do yourself and how much will have to be done by professionals.
Work out a budget and figure out how much you need to borrow. Go out and price up the materials. You should have a good idea what you will need for your renovation. Always add at least 10% onto your budget as there will be things you would not have considered. Approach the bank or other lending organisation to arrange a mortgage. Review your budget if necessary.
Final tips
Find a local contractor during the planning process. Make sure that they get organized and ready to start when you need them.
Run a site office with copies of plans, standard site equipment, a phone and shelter.
Start a diary of all events for each day. Get your quotations, certificates, plans, receipts and contacts organized well in advance.
Draw up a schedule for the renovation project. This will help you organize when the labour and materials are required. You don’t have expensive materials lying around in unlocked places.
Keep your site tidy. If you do this on a daily basis it will speed up work and minimize accidents.
Think ahead, find time to plan. Make decisions early and stick to them. Avoid making snap decisions about kitchens, flooring and design issues.
Include GST in your upfront cash-flow plans. You will be able to get much of the GST back in the months after the build has finished, but you will need to find the cash to pay for it upfront.
As you can see it is not a simple task to take on a renovation project. You will need a lot of time and commitment to finish a renovation project. The alternative to managing the project yourself is to get a project manager in to do it for you or hire a interior design firm that can do the whole project from the design phase right through to the finished product.
Finding a contractor or renovation firm can be hard but kluje.com can help you.
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