When you start a refurb project you have to budget... Sometimes easier said than done. Below is our top tips for getting a refurb completed on time and on budget:
Find a good builder - How? Where? Help!
Get all costs agreed upfront
Do not do pay daily rates for builders - even if it is tempting or appears cheaper
Add a contingency about 10%-20% - higher side for an older property
Have a time frame in mind and stick to it. Agree penalties if builders overrun
Only pay for work that has been completed - regardless of "Wages" need to be paid
Get at least 3 quotes from different builders
Do not pay more than 5% for deposit or materials up front
The above may lead some of you to have questions, like how do I find a builder? What if the builder says they are going to sue if I don't pay? 3 quotes is that all? Where do I start?
If you are interested in more of a guide, let us know and we can create a step by step guide to a refurb, comment below.
If you have questions like the ones above please post your question below and someone from our team will message you right back with more in depth answers.