Australian Finance Podcast How not to mess up your renovation!
Dec 29, 2025
Explore the ins and outs of successful renovations without the headaches! Discover actionable budgeting tips, the importance of legal compliance, and how to navigate council approvals. Delve into the impact of material shortages and the rising costs post-COVID. Learn whether to manage the project yourself or hire professionals, and why energy efficiency upgrades can boost your home’s value. Plus, hear real-life stories and stress management techniques to make your renovation journey smoother!
AI Snips
Chapters
Transcript
Episode notes
Track Budget With A Living Spreadsheet
- Build a detailed spreadsheet tracking budget lines, actuals and a contingency to avoid surprise overspend.
- Update it frequently so you catch overruns early and can reallocate or pause works if needed.
Old Contingency Rules No Longer Hold
- Cost blowouts are larger now than historic rules of thumb like 10% contingency; materials and labour have risen substantially.
- Expect higher buffers than past renovations and plan financing accordingly.
Secure Approvals And Certifiers First
- Check planning, council approvals and get certifiers signed off before starting to avoid illegal works and resale problems.
- Factor in costs for architects, surveyors, soil tests and certifiers into pre-build budgets.