Should You Outsource Your Property Renovation or Do It Yourself

November 15, 2011

Renovate to Sell

Should I outsource my property renovation or do it myself? This question plagues every home owner who has made the decision about going in for renovation. Renovation is always needed as properties grow older, and the structure, fittings and accessories begin to wear out, giving a rundown look to the whole place. Typically fifteen to twenty year old properties demand renovation while those less old are upgraded for reasons other than necessity. Everyone on the threshold of renovation asks himself this question and wonders whether or not he should outsource the entire exercise.

Factors to consider

Before being able to decide whether or not to engage the services of a contractor a few points have to be taken into consideration. These include:

  1. The nature of renovation – The kind of renovation being undertaken is the biggest deciding factor. A house needing t be demolished will need contractor services, but partial renovation can still be done yourself.
  2. The time available with owners- If as an owner, you have plenty of time to spare, or are free between assignments, then doing it yourself is viable, but with a full time job, it is extremely difficult.
  3. Ease of availability of materials- If materials needed for renovation are easily available, then doing it yourself may be a good idea, if other things point towards it too. If however, you reside in a far flung area where materials are not easy to fins, outsourcing may be an easier option.
  4. The expense factor- Outsourced services being carried out by professionals, and the contractors’ margin added, make outsourced renovations a far more expensive proposition.
  5. Support systems available- A do-it-yourself renovation will be ruled out if support systems in the form of extended families are not available to help in at least taking care of children and provide other assistance. Managing everything alone is difficult.
  6. The kind of contractors available in the city- If only high-end contractors are available in the city, it may become necessary to renovate yourself since their rates may be beyond your budget.
  7. Motivation and skills – Owners need to be highly motivated, with high knowledge levels and skills to take up a renovation exercise themselves.

Pros and Cons of outsourcing

Pros

  • Outsourced renovations are professionally carried out through experts
  • Provide a finer finish since experienced people complete the job
  • Takes less time since everything is planned by the contractor
  • Materials are not wasted since their experience helps them calculate the exact amount needed
  • Save costs by recommending sturdy products to buy rather than trying out new ones
  • Outsourcing is the easiest way out of a stressful task

Cons

  • Very expensive since professional services come at a higher price
  • May have differences since your visualized plan may be different from what is delivered
  • Headache to monitor the activities of multiple workers
  • May end up renovating more than necessary

Pros and cons of doing it yourself

Pros

  • A great way to spend free time
  • You can give your home the look you want
  • A lot of money is saved since you can trim expenses everywhere and save on labor costs
  • It is a great learning experience, researching, experimenting and discovering new ways

Cons

  • Takes more time since lack of experience leads to mistakes and repeated attempts
  • Leads to waste of resources since the amount to be bought is not known and redoing things means more material is needed
  • May not be able to give a neat finish
  • Causes a lot of stress and exertion which may lead to health problems

All these factors can help you decide whether to outsource your home renovation project or simply do it yourself.


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