High quality renovations don’t just boost your lifestyle, they can also add to your home’s value – and you may be thinking of doing some or all of the work yourself. Keep an open mind though. A DIY approach should cut costs not corners, and unless you have the time and skills to achieve a great end result, it can pay to hire professional tradies.
Does DIY really save money?
Taking the do-it-yourself approach has the potential to save big dollars on labour costs and give you more flexibility and control over when work is done and how long the project will take. The flipside is that licensed tradespeople can generally give you a more professional finish, and in many cases, they will complete the project in less time than you’d take yourself.
Reputable builders also have the right tools for each job. Don’t forget to allow for the cost of hiring or buying specialised equipment if you’re taking the DIY path.
How safe is it?
Some jobs like a fresh coat of paint can be undertaken without too much difficulty. However, plenty of renovation work calls for skill and experience, and pretty much any task involving power tools brings an element of danger.
When it comes to electrical work, don’t even try to complete the job yourself, it’s just too risky. A builder will also recognise unexpected or hidden hazards like asbestos, and know what sort of action to take.
The key is to find a balance between tasks you can safely complete yourself to a high standard, and those jobs that are best left to the pros. Then ask friends or families for referrals for reputable licensed tradespeople.
Will you be paying full price?
Tradies usually receive discounts from suppliers, and while they may absorb some of this saving themselves, you could find it works out cheaper than buying your own materials at full retail price. Having a builder organise materials also spares you the hassle of tracking down suppliers and transporting bulky building materials home.
Don’t overlook legal requirements
Before you kick-start any home improvements, understand the rules and regulations that apply in your area . Building codes and requirements for a Development Application (DA) vary widely, so contact your local council to know what’s involved.
If you’re planning a DIY project, additional regulations may apply. In some states you'll need an Owner-Builder Permit to complete your own building work if it’s over a certain value.
The main point is to do your sums to see how much a professional builder will cost, and consider where you can trim this expense with some sweat equity of your own.
This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.