Renovation By Professionals Or A Do-It-Yourself Exercise

February 7, 2012

Tips & Ideas

Renovation on your investment property is important to keep it in good shape and increase its life. Some renovations are forced, that is, they have to be undertaken when there is a breakdown, while others may be carried out to improve the aesthetics of the place. Both however, are cumbersome, and the difficult decision is whether to do-it-yourself or hire expert professionals. There are benefits and negatives of both, and the deciding factor always is the expense involved, the nature of the job and the expectations regarding the final outcome.

However, do-it-yourself exercises, even by people who are very good at it, cannot match up to professional jobs, since the experience and expertise is lacking. These, then must be restricted to simpler repair work like water leakages, faulty electrical connections, doors and window repairs and so on.

Advantages of getting professionals for renovations

  • Flawless work, perfect finish and top quality
  • Maximum utility derived by economically using products
  • Wastage avoided since they know exactly what is needed and how much
  • Ability to customize and innovate according to the demands of the job
  • Work done lasts longer without getting spoilt
  • A single attempt is successful since the task at hand is familiar

Disadvantages of using professionals for renovations

  • High costs involved since professionals’ fee is high
  • Dependence on an outsider for completing the job
  • Long waiting periods to get an appointment
  • Some work with only specific branded materials and not cheaper substitutes
  • Encroachment of privacy
  • End result may not always be flawless
  • Element of risk involved since the final deliverable may not be what has been envisioned

Thus opting for professional trades people to complete a renovation task means balancing out the positives and negatives. Depending on the time and resources available, such decisions can be made.

Advantages of DIY renovations

  • Quick and immediate, since the task can be undertaken immediately
  • Huge cost saving, since labor expenses can be saved
  • Expenses on materials can also be minimized since the best bargains can be picked up
  • Time saving since it can be done according to owners’ convenience
  • Not just day time tasks-can be completed after work and on weekends
  • No question of cheating and fraud
  • Privacy maintained since no strangers are involved

Disadvantages of DIY

  • Amateur work that lacks finesse
  • Smoothness and fine finish very difficult to achieve
  • The right materials and equipment may not be known
  • Time wasted since jobs may have to be restarted
  • Materials are also wasted in the process
  • Tools and equipment have to be purchased even for single use.

Here again, the two opposite sides have to be balanced, and the option of doing it yourself must be decided according to the specifications of the job.

According to the law, certain jobs like drainage, electrical connections, gas fitting, plumbing etc must be carried out by professionals since they can pose security hazards. Since they know every minute detail about the task at hand, they can innovate and modify according to requirements, and thus save money, effort and space for the home owner. This makes even the expense justified.

For further reading on Property Investment NZ, click on the articles below:

Setting Goals for Financial Independence – click here

Tips for Becoming a Property Expert – click here

Buying Rules for Property Investment – click here

5 Tips to Add Value through Renovation – click here

, , , , ,

About Property Tutors

“PropertyTutors Limited believes the information in this publication is correct, and it has reasonable grounds for any opinion or recommendation found within this publication on the date of this publication. However, no liability is accepted for any loss or damage incurred by any person as a result of any error in any information, opinion or recommendation in this publication. Nothing in this publication is, or should be taken as, an offer, invitation or recommendation to buy, sell or retain any investment in or make any deposit with any person. The information contained in this publication is general in nature. It may not be relevant to individual circumstances. Before making any investment, insurance or other financial decisions, you should consult a professional financial adviser. This publication is for the use of persons in New Zealand only. Copyright in this publication is owned by PropertyTutors Limited. You must not reproduce or distribute content from this publication or any part of it without prior permission.”

View all posts by Property Tutors