Winning Appliances' Renovation Intentions study into Australians' plans to renovate has revealed just over half (51%) of Australian homeowners are planning to renovate within the next four years.
Around one-quarter (28%), or 1.1 million households, plan to renovate within 12 months, a positive sign Australians are still willing to invest in their homes.
Among those planning to renovate:
• One third (37%) will renovate their bathroom,
• One quarter (28%) will renovate their kitchen,
• One quarter (25%) will renovate their living areas,
• 18% will renovate the laundry.
John Winning, CEO of Winning Appliances and Appliances Online, said: "This research indicates Australians are still willing to invest in their homes and renovate, potentially to upgrade a kitchen or bathroom rather than selling the house and buying a new home. Around 56% of Australians either own their home outright or have a mortgage and of these people, 51% - or approximately two million households - are planning to renovate in the next four years.
7 top tips for renovators:
1. Have a plan and stick to it. The most successful renovations are those that have a clear vision from the start. Without a decent plan, renovations tend to become lengthy and expensive.
2. Leave the tricky stuff to the professionals. If you feel confident doing something yourself by all means go ahead, but for the more difficult tasks it would be prudent to pay a professional tradesperson to get it done right the first time.
3. Don't cut corners. While it's always wise to shop around to get the best price on materials, it's not a good idea to compromise on quality.
4. Use the right tools. If money is an issue and you don't want to fork out huge amounts for a tool you'll only use once, you might be able to hire it for a fraction of the price.
5. Research your appliances. Remember to include appliances in your budget. New technology such as induction cooking and steam ovens might also be suited to your needs. Visit a Winning Appliance showroom or www.appliancesonline.com.au and ask the professionals how they can help you create your dream home.
6. Get as many quotes for tradespeople as possible. In situations when you need to get a professional in, make sure you understand what's involved in the quote so you can make an informed decision.
7. Take the time to get it right. It can be tempting to take shortcuts in an effort to save time and money, but shortcuts often involve risks that can cause problems in the long run.