We often have clients come to us asking for quotes to renovate and or put a home extension or top storey home addition on to their existing home. The same clients, months later after going backwards and forwards with communication, let us know they have decided to sell their home.
We understand that in some cases, selling your existing home is better than building a home renovation or adding on a top story addition or home extension. It comes down to many different factors, for most people the key driver is to not over capitalise on the home they are currently in.
Over capitalisation assumes that the cost to do renovations or a home addition add more cost on to the value of the home than the actual home is worth- example- your home is valued at $750,000 you spend $450,000 on a renovation and extension and the value of your home after the renovation is $1,150,000. This results in spending $50,000 over the value of your home. If you were to sell your home in the next year you would potentially lose money!
However, before you do go down the selling route you should consider the below factors:
The costs involved in selling your home
Most importantly- Consider the overall cost of selling your existing home and buying a new home.
In Western Australia these costs will include:
As an example of costs see below:
Existing homes value: $750,000 (typical value of an older home within 5kms-10kms of Perth CBD)
Total: $59,500-selling and moving costs!
However, costs are not the only things to consider when considering selling your home vs renovating your home.
The mental stress of moving is enough to prevent most people from selling. It is not a small job to move all your belongings from one house to the next! With a renovation in most cases our clients will remain in their homes while the renovation takes place (this depends on the extent of renovations).
The main reason why most people do not move is the neighborhood they live in, relationships with neighbors can go back 20-30 years in some instances and moving to another suburb or on the other side of the suburb will mean your neighbors are no longer close to you.
SO-What IS the cost of a FULL Home Renovation and Extension?
As an example, a 2 bedroom and 1-bathroom older home including the below upgrades would cost between $250-350,000+ depending on your specifications
The key to renovating or extending comes down to not over capitalising on your existing home via high renovation and extension costs. On the other hand, many people are happy to over capitalise on their “forever” home, as they have no intention of selling in the short term, and just want to live in a lovely home designed by themselves to fit their lifestyle and family needs.
The above example is only relevant to homes in the price bracket of $750,000 or above if you were in a suburb with lower priced houses you have to be mindful that your renovation will be significantly less on cost and will more than likely only include a smaller extension of a bedroom and ensuite and simply updating the existing kitchen or bathroom.
Conclusion- Renovate or Sell
Cost is not everything to consider when thinking of selling or renovating your home. The mental stress of moving is top of mind for most people, as well as leaving their neighbors.
Whatever you chose to do, bathroom renovation, kitchen renovation, top story home extension or whole house renovation- Distinct Renovations are always here to help with your home renovations and home extensions.
We help lots of clients build their dream home from what they have, and we always stay mindful of their budget. We understand that over capitalising on your home is not the goal, the goal is to love the home you live in by renovating within a selected budget.
Let us know how we can help, email now.
Bathroom renovations are usually a top priority on most peoples list when they purchase an older home that needs some TLC.
Kitchen renovations can be a little costlier plus you spend a significant amount of time in your bathroom, so a good place to start with the home reno.
All our customers we speak with want to know how much they are in for when thinking about a bathroom reno.
Like any renovation, cost will depend on the fixtures and fittings you chose, size of bathroom and if you are moving the plumbing or keeping the existing where it is.
From our experience of renovating several bathrooms over the years, we believe the below to be a pretty good estimate.
If you are looking at a basic modernisation of an existing bathroom then your starting price would be about $10,000, however be mindful that you can spend upwards of $40,000 in a bathroom renovation also!
Some bathrooms are small, some are large. some involve two showers, two vanities and a spa bath! So, it’s hard to know a price without knowing what the specifications are.
In our experience a $10,000-bathroom renovation would look like this:
If you are looking at adding a bathroom by building a home extension, then your starting price would be $25,000.
When building an extension, you need a licensed builder in Western Australia, this also entails obtaining the right insurances. As you are adding on to the existing house foot print with a new slab, roof and frame this then obviously creates more costs above and beyond a simple bathroom renovation.
However, be mindful that adding a bathroom to an existing 1-bathroom home will add significant value to the home, more value that is, than a simple bathroom renovation would.
In most cases you will always add more value than the outlay expense to do the bathroom extension. In our experience with previous clients, it has always been the case.
At Distinct Renovations we do a lot of bathroom renovations, in fact most of the our bathroom jobs consist of a bathroom reno and a bathroom/ensuite home extension at the same time.
Doing a bathroom renovation and a bathroom extension at the same time can reduce the overall cost by getting the trades in at the same time to complete.
Further to this, if you get the home extension done first then you have a spare bathroom to use while the main bathroom is being renovated #winwin!
If you are interested in learning more about how we can help you with your bathroom renovation or any home renovation extesnion or new build, feel free to contact us here or send us a message on Facebook (direct from this page using blue "M" button), or email, either way we will get back to you right away!
We come across this question all the time when discussing building a timber frame home with our potential clients. So we took action and took a risk as some would think.... So that we could find out for ourselves and future clients.
If you have read any of our posts and scrolled throughout our website, you can soon work out that we love to build homes and home renovations using timber frame construction. We believe it is the best type of construction to use when building your home or home extension. This due to timber frame construction being great to the environment and a comfortable type of home to live in, there are many more reasons.
Just down load our free guide on the side bar here to find out more.
I have written a lot on this topic, in fact our most visited blog post is where I compare timber frame construction to double brick construction.
Now to the exciting part of the post...
We purchased an old house in Padbury Western Australia and knocked it over to build three brand new villas, two of which were constructed from double brick, as the standard goes here in Perth. We then chose to build the third villa from timber frame construction, excluding the boundary wall and double car garage which was built from brick.
Most feedback we get from existing clients is whether they will be able to sell their home and furthermore if it will fetch the price they need/desire.
As we are predominately timber frame builder’s we thought - why not test the market and see if Perth is ready for the ever-increasing demand of timber frame-built homes.
As it stands today, all three villas have been built and are on the market to sell, January 2018.
The initial valuation from the bank showed no issue regarding the construction method being timber frame, as this is the standard type of construction in Australia, albeit not here in Perth. 70% of Eastern states build starts are made up of using some form of timber frame construction, whether they are brick veneer or cladded homes.
The build time for all three took round 4 months from slab down to practical completion. They were completed in November last year.
The first home open was last weekend and up until this point we have had most buyer interest in the corner lot, unit 2 which was the biggest (double brick) and the timber frame home, unit 1.
As I write this blog, we have just accepted the FIRST offer which was above market price and happened to be the timber frame home!
The timber frame home had a lovely design with high raking ceilings which created a great openness and spacious vibe for what would-be considered a “small” home in the eyes of most home buyers.
We used the flexibility of timber frame construction to our advantage and used feature cladding on the exterior, added a small timber deck out the front and added a little study nook in the living space. These extra features and look and feel of the home are what won the buyer over we believe.
The cost to build all three were marginally different from the other even with the above added features. However, the timber frame one was built much quicker so borrowing costs could have been reduced had we sold that one first.
In case some are wondering the buyer was aware that this home was built using timber frame construction and was ok with the fact. He was a younger Gen Y and is more concerned about energy efficiency and style look of home and not too hung up on the fact that all homes in Perth must be built from the durable double brick construction.
People are slowly stepping away from the above Perth mantra that every home must be built using double brick, they are starting to see the benefits of timber frame as a real advantage to and enabling them to live in a well designed and ventilated home that they can reap the benefits from in years to come.
If you are interested in learning more contact us now and we are happy to answer all your questions for you next renovation or new built.
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Here in Perth Western Australia many people believe that timber frame construction is an inferior way to build homes when comparing it to double brick construction.
I am here to debunk the 4 common myths which we hear every day from our potential clients interested in finding out more about this mystified way of construction which is so foreign the people of Perth, Western Australia.
Let’s get into it……
Termites are a threat to all timber and wooden structures worldwide, however currently thanks to modern technology termite treated timber is a must when we build our homes. H2 treated timber is readily available at Bunnings and other timber suppliers in WA and is what all good builders will use to build any timber structures here in Perth.
Further to this all slabs poured or built have a per-treatment and post treatment for termites. Recent laws have changed which make such barriers impossible for termites to get in. All home owners of both double brick and timber frame homes are encouraged to get an annual pest inspection by pest companies, to ensure there are no critters lurking inside their roofs and walls.
Therefore, a combination of termite treated timber, rigorous initial pest sprays to the slab and barrier of homes, along with regular pest inspections should see that no termites will succeed in nibbling their way through the timber in your home.
There are very strict fire regulations to follow in the National Building Code when building on boundary walls to stop the spread of fire and even more intense code for builders to follow when constructing a home in a designated bush fire risk zone.
So, no your house is not going to burn down at the site of flame, if built using timber frame construction. The technology today allows us to build beautifully designed and energy efficient homes made from carbon friendly products like timber, that give back to the environment and don’t create a fire hazard.
Timber is a very flexibly material to build with and can become quite tough when manufactured to form timber beams.
These large and heavy beams can withhold hundreds of kilograms of weight as load bearing beams in the roofs of many homes.
The infamous knock on the wall to check what construction in a timber frame home will release a hollow noise which gives off the affect of weakness, this is not the case with timber, this type of structure is built to last 60 plus years.
Further to this, hanging pictures on a wall is NOT an issue and you may hang as many pictures as you like. Actually it is much easier to install a picture on a timber framed/plaster board wall. Then later when no longer needed, patching up the hole is much easier than patching in picture holes on a brick wall.
Technology is a powerful thing and has enabled the increasing use of timber frame construction when building homes, apartments and now some medium rise developments and hotels in Perth and worldwide.
At Distinct Renovations our choice is to build using timber frame construction as it is better for the environment and has many more benefits that make it a pleasure to build with and live within.
If you want to know more about how you could use this preferred method of building to build your next home extension or new built home contact us now to find out more.
We are always happy to answer all your timber frame questions.
Building for anyone is a daunting task, no one in their right mind can say they have full control over the build process.
So, choosing the right builder to build with should be the number one priority on a potential renovators or new home builders list. Once you chose your design,or, before you choose your design make sure you in list the right builder.
Builders can and have many a times turned peoples build process into a nightmare. In fact, talk to most people who have renovated or built before and they will more than likely say it was stressful, hard work and they will not do it again for a long while, or ever again!
Taking the hard work, stress and the sleepless nights out of construction work is what your builder should be doing.
That is why we believe at Distinct Renovations you should follow the below tips to selecting your builder:
Choose a small renovation and/or home builder WHY? - They have less staff and you only deal with three or fewer staff members through the whole process. This causes a lot less stress as miscommunications are reduced. In larger companies they employ a number of staff to do a number of tasks all related to your one build. More staff equals more room for error and more people to place the blame on for mistakes.
Choose a builder you trust and get on with WHY? - As mentioned above it can be a stressful time therefore you want to make sure that you are building with someone you get along with, someone that you can build a great relationship with and most importantly someone that understands you.
If you do not get along with a builder to begin with then walk away. Price should not be everything on a build, especially when prices in any build contract can blow out due to variations.
Choose a builder that doesn’t have too much on their plate- WHY? If you don’t you will not be the number one priority and your job will drag out due to hold ups on other jobs. Tradies get held up on different jobs for many different reasons, weather, delays in orders, other trades slowing them down an many more reasons. If your builder has 10 jobs to manage at once you know that you will not be their number one client, also further to this cash flow can become an issue, which can cause severe delay and issues.
So ask your builder what his work load is like and ask how many builds he currently has on.
Choose a builder that has good references- WHY? Because if they have bad reference it’s a sign that you are walking into muddy waters and you need to turn the other way… NO one wants to deal with a builder that has complaints from past clients.
Ask your builder to provide phone numbers of their last 5 jobs, don’t give them an option to choose their references ask for their last five clients and call each one to ask questions about how they performed.
The above four tips should help you weed through the good the bad and the ugly of builders and hopefully select the right one for your build.
Distinct Renovations are a true small builder and we believe that by going with a small builder you will get the attention you deserve, and the job will be completed in a timely manner allowing you to move into your newly built home or renovation as soon as possible.
Contact us now if you are interested in building or renovating.