So, you’ve decided against selling your home and will renovate instead. In the current climate, you are not alone. Taking into consideration the cost of selling and buying, not to mention this lovely thing called Stamp Duty, we all know it can be a tremendous burden on your wallet when all is said and done.
As fewer properties come on the market, with people not wanting to put up their home for sale until they have found somewhere to buy, many are deciding to stay put and putting this ‘saved’ cost into their current property instead.
But then what happens? You may have grand plans of extending up or out, maybe upgrading that pink bathroom and installing that rain shower you have always dreamt of, but where do you find the right people to do this?
Let me share with you a little something that may well be the best-kept secret in the trade. You see, before I started advising clients on property and buying them their next home or investment, I used to ‘flip’ property.
In my early twenties, I was in the lucky position to have a lot of spare time in between my work schedule and consequently bought old run down properties and renovated them for fun. Crazy as it sounds, I loved bringing properties back to their former glory and reinstalling features that had been ripped out by previous owners. Nothing would make me happier than visiting a salvage yard and discovering the perfect original Victorian fireplace to bring home. I did a lot of the work myself but I also leaned heavily on qualified trades people to do the more complicated things, such as plumbing, carpentry and electrical items.
As an inexperienced renovator, I learned the hard way. Charmed by smooth operators who promised the world and then seriously under delivered the works, on more than one occasion I had to have the work re-done, at great expense to my bank account, time off and stress levels.
So, how do you find the right tradie for you? Do you consult the yellow pages or will Mr. Google do it for you? Even asking your social circle has risks, because even though your friends may be happy with the works carried out, do they know it will be up to scratch in the long run, and were they overcharged for the privilege?
Here’s what I advise you do: call your local wholesalers. You see, all tradies have to get their materials from somewhere. And those wholesalers will have all the insider info on who are the good operators. Ask them:
- Who do you see on a regular basis? These tradies obviously have consistent work on.
- How long have they been your customers? You want someone with experience.
- Who pays their bills on time? Those who do will be more trustworthy and are less likely to go broke and leave you in the lurch.
- Who will be the best tradie for my particular job? They will know who does which job more regularly.
The wholesalers will be able to give you unbiased advice and you will be much safer in the knowledge you won’t be dealing with a rogue trader.
Take it from a serial renovator, this way of finding a tradie hasn’t let me down yet.
We can help you find a good renovator. Contact us firstname.lastname@example.org or call (02) 9555 5206 so we can help.
Published 14 June, 2016
Please note: Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.