Thinking about a bit of DIY to save a few bucks? You’d better read this then!

Having a go at Home Renovations

Put your paint brush down for 5mins and have a quick read.

In New Zealand we have a DIY culture We’re regularly bombarded with DIY TV shows and hardware store ads encouraging us to have a go ... and although it sounds like a great way to save money, make sure you have a realistic budget ... plus the right skills, confidence, knowledge and tools to get the job done! It’s actually pretty easy to blow your budget, do a poor job and even end up in the waiting room at A&E with your finger sitting on ice in a chilly bin beside you! Don’t be that person! So, make a plan, get advice from people in-the-know, create a budget, prioritise, ensure regulatory compliance ... and have a go!

We have put together a few tips on what you can and can’t do yourself:

Building Work Any building work that doesn’t require a building consent is not restricted, so you can do it yourself e.g. windows, insulation, carports and fences. But if that sort of work is not for you, then maybe: patching and sanding the walls, painting, removing old tiles, dismantling kitchen cabinets and pulling up carpet flooring will be good ways to save a few dollars. See this useful guide for more: https://www.building.govt.nz/assets/Uploads/projects-and-consents/building-work-consent-not-required-guidance.pdf

There are a couple of useful pieces of information here:

Electrical work

There are some things you can do yourself ... but that doesn’t mean you should. Do you really have the right skills or understand what you are doing? Accidents can easily happen, your property could be damaged, you may be prosecuted, there may be issues with insurance policies and of course there is the risk of injury or even death. It is best to get a licensed worker. Please read this https://worksafe.govt.nz/managing-health-and-safety/consumers/safe-living-with-electricity/getting-electrical-work-done/doing-your-own-electrical-work/

Plumbing work

There are some things you can do yourself including installing appliances and replace or repair taps, ball valves and plugs. You cannot do any sanitary plumbing which is work involved in fixing a pipe, plumbing fixture or appliance. Again, it’s easy to get plumbing work wrong ... so do your research and be very sure before you have a go.

Stuff http://www.stuff.co.nz/life-style/7347164/DIY-Renovation-budget-busters

Consumer Protection https://www.consumerprotection.govt.nz/help-product-service/home-renovation-repair/plan-renovation/

The Solution

Even if you’re doing some of the work yourself, you will still need a budget. Make sure you create a realistic budget and financing plan. Don’t spend more than you can afford. When creating your budget, allow a 10-20% buffer for overruns. Love My Money offers step-by-step Journeys to help you to achieve your financial goals. If you intend to save up for your renovation project then you should definitely take a look at our Saving Up For Spending Journey as it will help you achieve your savings goal. Alternatively, if you will be taking on debt to finance your project, then take a look at our Short-term Debt Journey. Both Journeys provide step-by-step guidance in plain language to help you achieve your goals. You can access your first Journey for free for a month!

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