Tag: homeowner

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DIY RENO ADDICT

What does an Aussie renovator look like?

With popular shows like The Block and House Rules dominating our televisions, it’s safe to say our nation has well and truly caught the reno bug. But what does an Aussie renovator look like and how much are they spending? Turns out a lot!

A new survey of 1,000 homeowners has revealed that the cost of hardware products is the most-cited road block in a renovator’s quest to creating the perfect home. For those that renovate it can quickly become the largest expenditure of the year, with two thirds of homeowners spending more than $1,000 per project and 31% parting with $5,000 or more.

Conducted by Monsta – a manufacturer-direct online shop for renovation supplies – the survey had some surprising findings.

  • Almost half (44%) of Aussie homeowners put off undertaking DIY projects because of the cost of hardware supplies
  • Value for money is a top priority for 85% of DIY consumers
  • Homeowners will undertake on average 1.6 DIY projects each year
  • NSW and QLD residents are more likely to incur significant expenses on renovations; nearly 70% of homeowners in NSW/QLD spend more than $1,000 per project (average across other states is 60%)
  • Women are slightly more price sensitive than men when it comes to the cost of DIY supplies, with nine in ten women stating that the cost alone influences their purchasing decisions (compared to men, which is eight in ten)
Designed using Monsta products

To combat rising prices Monsta is committed to providing premium DIY products at a fair price. “We recognise that the industry is plagued by inflated mark-up costs,” says founder Phil Scardigno. “Monsta ensures price-conscious consumers can purchase quality products at the best possible prices. Our free, online delivery service gives customers the freedom to shop at a time most convenient to them, without having to commute to the hardware store.”

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House Tours Real Renos RENO ADDICT

Real Reno: Brand New Build in Tamworth, NSW

We’ve got a great Real Reno for you today!

When Edwina and Rosco purchased their block of land five years ago in Tamworth, NSW, they couldn’t have imagined the kind of property they’d end up living in.

Real Reno: brand new build in Tamworth, NSW

“We purchased the block 5 years ago and spent 3 years talking about it and planning,” says Edwina.
“My husband who is not a builder left his job and did solo owner builder and created our dream home in approximately 18 months.

Real Reno: brand new build in Tamworth, NSW

While the couple, who are proud parents to Polly, 5 and Theodore, 3, had renovated previously, it was their first time building. “We have renovated 3 entire homes prior to this but this was the first time
building,” says Edwina. “It really is pretty incredible what my husband has achieved. It will blow your mind. Blows mine every day still!”

The family purchased the 5 acre block of land for for $190000 in 2012 and spent approximately $450,000 constructing their dream home; 4 bedrooms, 3 bathrooms, pavilion style with a solar passive design and colour bond cladding.

Though the project had its moments, especially for Rosco, as a first time owner builder and for Edwina with a small business to run (Edwina is a midwife and owns Birth Beat Childbirth Education), it was absolutely worth it. “It was a huge personal challenge,” Edwina says, “But well worth it.”

Categories
RENO ADDICT

How to go from bidder to winner: auction strategies to land you a property in 2016

Attending an auction, with the intention to bid, can be a nerve racking experience to say the least. You’re about to compete, in public and at a cost; however, the ultimate cost is at your own discretion. Bidding is an art, and if perfected, can see you outdo the guy who rolled up in the shiny Merc and tripled the first bid.

gavel
Image source: Your Property Hound
  1. Have your finances pre-approved: Secure a loan package with a competitive interest rate – and do so beforehand so you know your budget and can bid with confidence (and not just emotion) when you rock up on auction day.
  1. Bid in odd numbers: a simple trick that can be extremely effective. Typically bids will go up in even increments. If bids begin to falter at $500,000, then bid $503,000. You could just manage to win the auction at a fraction of your foreseen cost by avoiding round numbers.
  1. Have three prices in mind: A price you believe would be an absolute bargain to pick up the property, another you consider to be the true value, and a final that would be the absolute maximum you could afford. Auctioneers fuel off overbearing emotions. By dissecting the value, you’re effectively allowing yourself to participate in the auction from a stable and sensible position.
  1. Be an alternate-bidder: If the bid is increasing in $5,000 or $10,000 increments, try to slow bidding by going up by only $1,000 or $2,000; likewise, if bidding has slowed down and is going up in only small increments, try to blow the other bidders out of the water with one last powerful bid. Either way, you’re breaking the pattern and by doing so, manipulating the process to your advantage.
  1. Remain cool and confident: Ask the auctioneer or selling agent questions that might deter the hesitant, auction-novice. Mention the body-corporate fees, or ask for an update on the local capital works. Expressing your knowledge could be the difference between leaving with a new property or leaving without. Make calm eye contact with other bidders, transmit your confidence through your body language even if inside you’re as nervous as the rest of them!

–Bessie writes for finder.com.au, one of Australia’s largest comparison websites. She is passionate about real estate, renovating, and helping Australians find better.