Beware of overcapitalising

If you don’t intend selling, the money you spend on renovating will be an investment in the comfort and enjoyment of the house. Whether you increase the value of the home may not be an important factor in how much you decide to spend.

However, it is easy to get carried away with the excitement of doing up a home and overcapitalise by spending money that can never be recouped if you do end up having to sell.

If your house needs a great deal of work to get it how you would like, decide whether you want to go to all the trouble and expense, or whether it would be better to sell and buy something more suited to your needs.

Many New Zealanders take on renovation, redecoration and alteration projects in their homes, usually in the belief that it will save them money.

How much you can do yourself realistically depends on your skills, time and energy. There may also be legal restrictions on doing work yourself if you don’t have the right qualifications.

You need to consider Building Code requirements and getting building consent for some work.

However, before you take on any work around your home, consider all the aspects of DIY.

Many people are capable of carrying out repairs and maintenance work on their homes, including redecorating, such as painting and wallpapering. Some people have the skills needed for more difficult renovations and alterations.

Most of the restrictions on how much you can do yourself come down to skill, time and energy.

Be realistic about what you can achieve – there are many tales about DIY projects which became disasters which needed fixing by a qualified tradesperson.