In spite of all the interest rate cuts over the past year, most SA households are still feeling financial pressure, so it’s no surprise that homeowners are increasingly turning to DIY to save money on home improvements.
There are also more property buyers now who are willing to consider homes that are “in need of TLC” and prepared to do all the necessary renovations or alternations themselves, which is a great way to build equity if it’s done wisely. But it’s also an approach where inexperience can prove very expensive.
This is definitely an instance where it is better to learn from the mistakes of others than from your own, and the first and biggest one for buyers to avoid is buying in the wrong location. Just because a home is cheap and seems easy to fix doesn’t make it a good buy; a property’s position remains the single most important factor in future resale value and buyers should always think about that before they commit. No improvement they could make will compensate for a bad location, such as one next to a freeway, under a flight path or near a landfill.
Read more: DIY Magic - How to Renovate Your Home on a Shoestring budget
Before you start knocking down walls or adding a granny flat, make sure all zoning regulations and building plans are in order. This is not just a technicality. Building without approval is illegal and municipalities can halt your work or even order demolitions. What’s more, when it’s time to sell, unapproved alterations can derail your deal.
As a homeowner, you should also know when to call in the experts. While rolling up your sleeves can be rewarding, not every job is safe or sensible to do yourself. If you’re scared of heights, for example, don’t try to fix your own roof, and when it comes to plumbing and electrical work, always bring in certified professionals. Not only will this keep you safe, but it will also ensure compliance with insurance and building regulations.
Then there’s the question of cost. It’s very common to hear that DIY projects cost far more than the homeowner initially thought, so a good rule of thumb is to price every material you anticipate using, right down to the masking tape and sandpaper, and then budget at least 20% to 30% more. This should help you avoid the situation when funds run dry before your project is finished.
Meanwhile, it is not a good idea to skimp on materials. They might save a little now, but they rarely last. Cheap paint, fittings and finishes will look shabby faster and won’t stand up to daily wear, so if you’re going to invest your time and energy in doing the work yourself, it’s worth buying the best quality you can afford.
Done properly, DIY can be immensely rewarding both financially and personally. It’s a chance to make your home more functional, beautiful and valuable. However, really pays to plan carefully, work safely and know your limits if you want it to be a sound investment in your future.
