When is the best time to renovate?

News
For many of us, COVID-19 has meant more time at home to think about projects around the house, but is now the best time to renovate?
Home renovations

RACQ research found that 40 percent of Queensland homeowners surveyed were planning on renovating or building in the next 12 months, with the average planned spend more than $46,000.

RACQ spokesperson Kirsty Clinton said there were a number of factors currently affecting the speed and price of remodelling.

“We’re seeing COVID-19 impacting the cost and supply of timber, steel and other building materials, which could blow out the cost of your renovations and mean you’re living in a construction zone for longer than you planned,” Ms Clinton said. 

“We’re also now in disaster season, so if a major event occurs it could really exacerbate the issue as materials and trades will also be needed for insurance repairs.” 

Ms Clinton said the best time for your project could depend on what you were planning.

“Don’t forget to factor the season and weather into your planning. If you’re thinking of installing air-conditioning it may be hard to find someone available as we come into summer, however if you’re landscaping, spring could be the right time for your plants to grow,” she said.

“No matter what time of year you choose to renovate, the most important thing is to do your research. 

“Make sure you get quotes, keep an eye out for discounts or special deals and factor a little extra into your budget and time schedule, because projects rarely go exactly to plan.” 

Related topics

  • The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.

    Insurance products (excluding Travel Insurance) are issued by RACQ Insurance Limited ABN 50 009 704 152 (RACQ). Conditions, limits and exclusions apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the PDS and any applicable Supplementary PDS before making a purchase decision on this product. You can also access our Target Market Determinations on this website.

    Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

    Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

    RACQ Operations Pty Ltd (ABN 80 009 663 414 AR 000234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803 AR 000432492) are acting as an Authorised Representative of the issuer of the insurance, Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548). Any advice set out above is general in nature only, and does not take into account your objectives, financial situation or needs. Before purchasing any travel products, please consider the RACQ Travel Insurance Product Disclosure Statement (PDS) and the Target Market Determinations (TMDs) that apply to these products. Whilst the PDS outlines the Terms and Conditions of these products, the TMDs outline the intended class of customers that comprise the target market for these travel products. This will allow you to consider which products best suit your objectives, financial situation and needs and consider the products appropriateness to your personal circumstances. TMDs also outline matters involving the distribution and the review of these products. The PDS, Supplementary PDS and TMDs for each travel product can be found here.