Firstly, consider all factors that are driving the change - e.g. space, land size, location, facilities, school zones etc.. If you're happy with your location and love your house but just need an extra room or two, renovating might be for you.
Secondly, make a list of all requirements. Considering these factors will help you future-proof your largest asset.
- Budget, this will determine how much or little you can afford to do
- How long are you planning to stay in the house - five years, indefinitely?
- Do you need an extra room for a new addition to the family?
- Are you planning to work from home and need an office space?
- A young family means you might need a second living space in the future?
- Is it purely an aesthetic change you require? Are you sick of looking at the 1960's kitchen?
- Does the house currently have a bad layout? Could your life benefit from opening up the living space?
- Consider all future requirements of your house.
Thirdly, prioritize your list - what is essential and what is nice to have? Renovating can be expensive so you only want to do it once.
There are 2 ways of looking at the scope of the works so you can determine the best way to approach it;
1. In stages. Doing the renovations in stages means dealing with each space at separate times, room by room.
2. All at once. Jumping in and doing all the changes at the same time could mean vacating the house while the builders are working onsite.
If it is simply a lick of paint, new floor finishes and window dressings, it's likely you could get stuck in and do it yourself, if you are that way inclined. If the scale is a lot larger you may want to go with the second option. Check out my next home renovation post where I will go into the next stage of house renovations - diy style!