4 Renovation mistakes to avoid according to architects

If you, like thousands of Australians who renovate their homes every year, are planning on renovating your property to meet your changing needs or resale purposes. Be mindful, ill-conceived plans and inappropriate materials can lead to poor re-sale values or worse still, a property no one wants to live in.

According to Housing Industry Association (HIA) data, Australians spent over $37.5 billion on home renovations in 2020. HIA also projects that by end of 2021, Australian property owners will have well and truly surpassed the 2020 spend.

 Here are some key renovation mistakes to avoid according to Archicentre, the building advisory service of the Australian Institute of Architects:

1. Poorly designed roof extensions on period properties

2. Houses painted in garish colours

3. Money poured into expensive bathroom and kitchen fittings at the expense of light and space

4. Changing a house’s market segment from one to another, for example converting a three-bedroom house into two through building a walk-in wardrobe

According to Archicentre, a well planned and executed renovation or extension could see owners recoup their renovation cost with perhaps a 50 per cent tax free capital gain.

Therefore, planning and costing a renovation to work within an available budget combined with a clear understanding of how to tender the work out and manage the renovation project is fundamental to the success if any renovation.

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This article does not constitute advice; readers should seek independent and personalised counsel from a trusted adviser that specialises in property, a tax accountant and property design specialist.