WEBVTT - Home Improvements on a Budget 0:00:03.060 --> 0:00:05.880 Hi, I am Iona Bain and welcome to A Little 0:00:05.880 --> 0:00:09.690 Bit Richer, brought to you by Legal & General. Now, with 0:00:09.690 --> 0:00:14.580 the endless advice and inspiration available online, home renovations have 0:00:14.580 --> 0:00:17.369 never been easier, but with the rise in so- called 0:00:17.370 --> 0:00:20.940 property porn and cost of labor, there can be, shall we 0:00:20.940 --> 0:00:26.430 say, expectations on home makeovers. However, there are still plenty 0:00:26.430 --> 0:00:28.680 of ways you can make the most of your home 0:00:28.680 --> 0:00:31.200 on a budget. So here with lots of helpful advice 0:00:31.380 --> 0:00:35.130 is Paula Higgins from the HomeOwners Alliance. This is an 0:00:35.130 --> 0:00:39.120 organization that champions the interests of Britain's current and aspiring 0:00:39.120 --> 0:00:43.080 homeowners. They provide unbiased and practical advice whether you're buying, 0:00:43.200 --> 0:00:47.790 selling, or owning your home. So without further ado, welcome, Paula. 0:00:47.850 --> 0:00:49.320 Thank you. Lovely to be here. 0:00:49.530 --> 0:00:52.380 Lovely to have you here. So let's ask the big 0:00:52.380 --> 0:00:56.580 question. When buying a place, what's better, a doer- upper 0:00:56.670 --> 0:00:59.670 or somewhere that's already been renovated, you don't have to 0:00:59.670 --> 0:01:00.480 do that much to it? 0:01:01.140 --> 0:01:03.720 Well, to be honest, I think, for many listeners here, 0:01:03.720 --> 0:01:06.120 they might not have a choice. Because with house prices 0:01:06.240 --> 0:01:08.040 the way they are, if they need a mortgage that's 0:01:08.040 --> 0:01:11.580 affordable, it might be a do-it- upper and a renovation project, 0:01:11.730 --> 0:01:13.860 which can be brilliant. It's a place you can put 0:01:13.860 --> 0:01:16.410 your stamp on your own property. You can probably maybe 0:01:16.410 --> 0:01:20.610 add value to the property, and it's exciting. But saying 0:01:20.610 --> 0:01:23.399 that, if you're time poor and you're not willing to 0:01:23.400 --> 0:01:25.920 put that investment in and to really get involved in 0:01:25.920 --> 0:01:27.810 the building work, whether you do it yourself or somebody 0:01:27.810 --> 0:01:30.030 else, then perhaps maybe something that you can move in 0:01:30.030 --> 0:01:32.039 right away, that might be best for you. 0:01:32.220 --> 0:01:35.130 So a doer- upper is a really great way to 0:01:35.130 --> 0:01:36.000 get a discount? 0:01:36.660 --> 0:01:38.760 It can be, but also, you've got to really go 0:01:38.760 --> 0:01:40.680 in with your eyes open. Because you might think about 0:01:40.680 --> 0:01:42.420 a discount, but if you find out that the roof 0:01:42.420 --> 0:01:45.869 is failing, there's structural problems, there's damp, that can cost 0:01:45.900 --> 0:01:48.120 tens of thousands of pounds. So you really need to 0:01:48.120 --> 0:01:51.330 understand what you're getting yourself in for. But saying that, if it's 0:01:51.330 --> 0:01:54.000 just more cosmetic changes, it could be a really good 0:01:54.000 --> 0:01:56.130 way of getting good value out of your home. 0:01:56.130 --> 0:01:59.040 You see, it's about trying to identify that potential in 0:01:59.040 --> 0:02:01.080 a property, isn't it? And it's something that I found 0:02:01.080 --> 0:02:03.750 really hard in the past, because you look at the 0:02:03.840 --> 0:02:08.190 Artex ceilings or the avocado bathroom suite, these things can 0:02:08.190 --> 0:02:11.250 initially put you off, but I've realized you need to 0:02:11.250 --> 0:02:13.650 try and develop x- ray vision when you are looking at a 0:02:13.650 --> 0:02:16.380 property and yet it's so hard. What are your tips 0:02:16.380 --> 0:02:18.899 for trying to spot those things that make a house 0:02:18.900 --> 0:02:19.859 have great potential? 0:02:19.889 --> 0:02:22.710 Well, exactly that. You need to have vision. You need 0:02:22.710 --> 0:02:25.799 to understand the local market, and you need to understand 0:02:25.800 --> 0:02:28.350 the costs involved. Because you might go in, and actually 0:02:28.350 --> 0:02:31.620 changing a bathroom suite might not be that expensive, but 0:02:31.620 --> 0:02:34.950 rewiring, re- plumbing, that's where the expense is. So the 0:02:34.950 --> 0:02:37.139 one thing, if you're trying to find that gem there 0:02:37.139 --> 0:02:40.290 is location, location, location. That's what we always say. You 0:02:40.290 --> 0:02:42.840 cannot change that. So if it's a place that's up 0:02:42.840 --> 0:02:46.260 and coming, new businesses are moving in, lovely schools, good 0:02:46.260 --> 0:02:49.020 transport links, other people want to live there, then it 0:02:49.020 --> 0:02:51.480 probably will hold its value. Other things that you can 0:02:51.480 --> 0:02:53.790 think about is buying a cheap property on an expensive 0:02:53.790 --> 0:02:56.220 street is a good way, because actually, it's one that 0:02:56.220 --> 0:02:57.930 maybe hasn't been done up, but the other ones have, 0:02:58.169 --> 0:03:00.750 other people want to live on that street. Maybe once 0:03:00.750 --> 0:03:02.580 you get over that hurdle and renovate, you might do 0:03:02.580 --> 0:03:04.650 very good value out of that. And the other thing 0:03:04.650 --> 0:03:07.830 we'd say is to buy your own front door. When 0:03:07.830 --> 0:03:10.470 you have your own home, you can do pretty much 0:03:10.470 --> 0:03:12.690 whatever you want with it. If you're buying a leasehold 0:03:12.690 --> 0:03:14.910 property or flat, and I know, for many people, there 0:03:14.910 --> 0:03:16.650 won't be an option, that they have to do that, 0:03:16.889 --> 0:03:19.200 but there's a lot more restrictions in place. You can't 0:03:19.200 --> 0:03:21.930 really put a stamp, and the value doesn't really hold. 0:03:21.930 --> 0:03:23.790 There's not really much places where you can add value 0:03:23.790 --> 0:03:25.230 to the leasehold property. 0:03:25.380 --> 0:03:28.649 So it's really worth being aware of those differences between 0:03:28.650 --> 0:03:31.440 leasehold and freehold properties, because that will affect what you 0:03:31.440 --> 0:03:32.130 can do with it? 0:03:32.280 --> 0:03:35.130 Most definitely. So even though you own your flat, as 0:03:35.130 --> 0:03:37.530 opposed to renting your flat, you'll still have to ask 0:03:37.530 --> 0:03:40.770 permission from your freeholder, from your other neighbors to do 0:03:40.770 --> 0:03:43.800 work. And also, you've got things like service charges, all 0:03:43.800 --> 0:03:44.670 these sorts of things. 0:03:44.670 --> 0:03:48.900 So what are the best home renovation ideas for homeowners on 0:03:48.900 --> 0:03:51.540 a budget? What are the things that will actually add 0:03:51.540 --> 0:03:54.150 value to a property? And what are the things that are a bit 0:03:54.150 --> 0:03:55.230 more debatable? 0:03:55.560 --> 0:03:57.960 So there's always easy things you can do, like a 0:03:57.960 --> 0:04:01.200 lick of paint, changing light fixtures, whatever, can really change 0:04:01.200 --> 0:04:02.970 the feel of the home. So that's a bit of 0:04:02.970 --> 0:04:05.520 a no- brainer. But if you're looking at bigger projects, 0:04:05.760 --> 0:04:07.890 I would think things like an open plan kitchen. If 0:04:07.890 --> 0:04:09.720 you talk to estate agents, they could add tens of 0:04:09.720 --> 0:04:12.900 thousands, and it's actually not that expensive to tear down 0:04:12.900 --> 0:04:13.860 an internal wall. 0:04:13.890 --> 0:04:15.451 Wow, tens of thousands of pounds just for tearing down a wall. 0:04:15.451 --> 0:04:18.359 Yeah, so we did research a few years ago, and 0:04:18.360 --> 0:04:20.550 it can cost between four or 5, 000 pounds. This 0:04:20.550 --> 0:04:22.859 is all very ballpark figures. You'd need to look into 0:04:22.860 --> 0:04:25.380 it yourself. And you definitely need to get it done 0:04:25.380 --> 0:04:26.970 properly, because you don't want to be tearing down a 0:04:26.970 --> 0:04:27.990 structural wall. 0:04:27.990 --> 0:04:28.320 True. 0:04:28.410 --> 0:04:30.839 But it can really, really add value, because think about 0:04:30.839 --> 0:04:33.630 it, if you're building, developing that home, that, for the 0:04:33.630 --> 0:04:35.789 next person, who just wants to move in, they will 0:04:35.790 --> 0:04:38.580 pay for that. Other things is getting an en suite 0:04:38.640 --> 0:04:41.580 or downstairs loo is another one that actually doesn't cost 0:04:41.580 --> 0:04:43.920 a huge amount, but it can really add value when 0:04:43.920 --> 0:04:46.589 you come to sell. Also things that you've got space, 0:04:46.620 --> 0:04:49.620 a garden room, people are working from home now, so 0:04:49.620 --> 0:04:52.350 people really find that as an attractive thing when you 0:04:52.350 --> 0:04:55.350 might become to sell. So really, what this thing to 0:04:55.350 --> 0:04:57.570 add value, it's the potential to grow. So think of 0:04:57.570 --> 0:05:00.120 your future self, and even though if you think that 0:05:00.120 --> 0:05:02.250 the property you're buying is maybe too big for you, 0:05:02.490 --> 0:05:05.370 but think about whether, can you sublet a room, get 0:05:05.370 --> 0:05:07.380 a lodger in if you need it, can you go 0:05:07.380 --> 0:05:10.799 into the loft and actually quite reasonably priced. Digging out 0:05:10.800 --> 0:05:12.750 basements, definitely don't go there. 0:05:12.870 --> 0:05:15.270 Oh, really? So it's better to go up rather than down? 0:05:15.270 --> 0:05:18.089 Oh yeah, definitely, way more affordable. And also things like 0:05:18.089 --> 0:05:21.419 doing a side return or an extension. There's lots of 0:05:21.450 --> 0:05:22.140 options there. 0:05:22.320 --> 0:05:25.890 And what about things like energy efficiency? That's not necessarily 0:05:25.950 --> 0:05:27.930 the kind of thing that gives the property the wow 0:05:27.930 --> 0:05:30.630 factor, but could that be a good investment over time? 0:05:30.630 --> 0:05:32.760 Very much so. You should be looking, when you're buying 0:05:32.760 --> 0:05:35.010 a property or when you're looking at properties, there's the 0:05:35.010 --> 0:05:39.120 energy performance certificates. So that will give you not only 0:05:39.120 --> 0:05:41.010 just an indication of much you might be paying in 0:05:41.010 --> 0:05:43.230 bills, but also an indication what you could do to 0:05:43.230 --> 0:05:45.029 improve the energy efficiency of your property. 0:05:45.029 --> 0:05:46.680 And they're graded by letters, aren't they? 0:05:46.710 --> 0:05:49.110 They are. And it's actually becoming more and more important, 0:05:49.110 --> 0:05:51.630 because the government in the future will probably be saying 0:05:51.630 --> 0:05:53.250 you might not be able to sell your house or 0:05:53.250 --> 0:05:55.980 rent your property out without a certain level of energy 0:05:55.980 --> 0:05:58.260 performance. So you would think that future buyers might be 0:05:58.260 --> 0:06:00.630 looking at this. So there are some great things you 0:06:00.630 --> 0:06:02.880 can do to improve the energy efficiency of your home, 0:06:03.180 --> 0:06:05.700 but take a look at the suite of options. So 0:06:05.700 --> 0:06:08.220 there can be some things like better lighting, changing the 0:06:08.220 --> 0:06:12.029 boiler radiator controls, but something like double glazed windows, which 0:06:12.029 --> 0:06:15.570 we all love, they can be incredibly expensive. The payback 0:06:15.570 --> 0:06:19.740 is not brilliant. And actually, the future buyer might not 0:06:19.740 --> 0:06:22.410 really say, " Oh, I'm going to pay that extra, because 0:06:22.410 --> 0:06:24.479 the double glaze." So let them find out what the 0:06:24.480 --> 0:06:27.060 price is, but saying that, they are beautiful and it's 0:06:27.060 --> 0:06:29.430 a great investment. If that makes you happy, your home 0:06:29.430 --> 0:06:32.250 is where your happy place, and then, by all means, 0:06:32.250 --> 0:06:32.880 go for it. 0:06:32.940 --> 0:06:35.400 But if a property already comes with double glazed window, 0:06:35.400 --> 0:06:36.600 that's a big tick? 0:06:36.690 --> 0:06:39.029 That is, and that's probably also something that I don't 0:06:39.029 --> 0:06:41.580 think others will probably value as much. So do take 0:06:41.580 --> 0:06:44.279 a look at the energy performance certificates because the cost 0:06:44.279 --> 0:06:47.339 of heating and energy at the moment is so high, 0:06:47.610 --> 0:06:50.220 it is definitely worthwhile. So another thing is you can 0:06:50.220 --> 0:06:53.099 even have two properties on the same terrace street, but 0:06:53.100 --> 0:06:56.400 somebody who's invested in the insulation can really make it, not 0:06:56.400 --> 0:06:59.520 even just cheaper to run, but actually a nice place 0:06:59.520 --> 0:07:01.529 to live. And you're not freezing in the winter or 0:07:01.529 --> 0:07:02.610 super hot in the summer. 0:07:02.760 --> 0:07:04.080 That's why you want to get up in the loft, 0:07:04.080 --> 0:07:06.660 because if you keep that well insulated, that will help 0:07:06.660 --> 0:07:08.730 the whole house stay warm as well, I imagine? 0:07:08.760 --> 0:07:09.210 That's right. 0:07:09.270 --> 0:07:11.910 Yeah. And in terms of the energy performance certificates, what's 0:07:11.910 --> 0:07:14.970 considered a good EPC rating then? 0:07:15.330 --> 0:07:17.820 It can vary. So I think that the government is 0:07:17.820 --> 0:07:20.070 trying to get to C, but to be honest, it 0:07:20.070 --> 0:07:22.950 depends on the local housing stock. So you can easily check 0:07:22.950 --> 0:07:25.890 out the EPC ratings of the property you're in and 0:07:25.890 --> 0:07:28.020 the property you're looking to buy and the neighbor's property. 0:07:28.050 --> 0:07:30.480 But typical terraced houses, you probably look at C, D, 0:07:30.480 --> 0:07:33.720 E. A, Bs are pretty much unattainable. Those would be 0:07:33.720 --> 0:07:34.500 new built homes. 0:07:34.530 --> 0:07:35.760 Right, that's good to know. 0:07:35.790 --> 0:07:36.930 But don't go for F or G. 0:07:37.200 --> 0:07:38.761 Okay, F or G, try to steer clear? 0:07:38.761 --> 0:07:38.910 Yes. 0:07:39.630 --> 0:07:42.900 So there'll be people listening to this who aren't in 0:07:42.900 --> 0:07:46.080 a position to buy yet, and maybe they don't want 0:07:46.080 --> 0:07:49.890 to buy, they want to keep renting, but their options are 0:07:49.950 --> 0:07:52.200 more limited, aren't they, in terms of how they can 0:07:52.200 --> 0:07:54.390 make their space feel a little bit more like a 0:07:54.390 --> 0:07:55.980 home? Have you got any tips for them? 0:07:56.370 --> 0:07:59.160 Yes, there's still lots of things you can do. Painting 0:07:59.160 --> 0:08:02.010 is actually quite inexpensive. Of course, ask your landlord. But 0:08:02.010 --> 0:08:04.200 also, there's things like peelable wallpapers, so you can put 0:08:04.200 --> 0:08:06.270 the wallpaper up and then, take it down when you 0:08:06.270 --> 0:08:08.910 leave. Other things you can do is that you invest in 0:08:08.910 --> 0:08:12.030 furniture and storage, pieces that make you happy, that you'll 0:08:12.030 --> 0:08:15.180 bring with you. Lighting is another easy way. It can make a 0:08:15.180 --> 0:08:18.060 big difference to have maybe softer lighting. And that is 0:08:18.060 --> 0:08:19.710 something that you can then take with you as well. 0:08:19.980 --> 0:08:22.380 And we'd also say something we call curb appeal. So 0:08:22.380 --> 0:08:25.380 the garden, the front step, it can make you feel happy 0:08:25.380 --> 0:08:27.900 when you're coming into your home, having plants around your 0:08:27.900 --> 0:08:30.900 home. Again, very cheap, very easy to take care of, 0:08:30.900 --> 0:08:32.309 and it puts your stamp on it. 0:08:32.370 --> 0:08:35.880 That's such a good shout. Okay, soft furnishings and plants. 0:08:35.880 --> 0:08:38.370 That's what you can do to make your rental home 0:08:38.370 --> 0:08:41.610 feel a little bit more cozy and like it's yours. 0:08:41.640 --> 0:08:43.949 And what I would say also is that something that I think 0:08:43.950 --> 0:08:46.350 renters don't do so much is that there's such a 0:08:46.350 --> 0:08:49.709 wealth of places you can go locally, join your local 0:08:49.710 --> 0:08:53.850 Facebook groups, your WhatsApp groups, your Nextdoor. Because you might 0:08:53.850 --> 0:08:56.100 have somebody down the street moving out, has a lot 0:08:56.100 --> 0:08:57.630 of furniture they need to give away, and you'll be 0:08:57.630 --> 0:08:58.350 able to pick up. 0:08:58.710 --> 0:09:00.510 That's a great tip if you're looking to buy a 0:09:00.540 --> 0:09:02.760 home as well, because you're on a budget and you 0:09:02.760 --> 0:09:05.040 need to get furniture however you can. 0:09:05.100 --> 0:09:07.290 Yes. And you can mix old with new. You don't 0:09:07.290 --> 0:09:10.410 need all the designer. There's some brilliant affordable brands out there. 0:09:10.410 --> 0:09:10.710 Totally. 0:09:11.040 --> 0:09:13.920 So buy well. Better to buy maybe one piece that 0:09:14.070 --> 0:09:16.170 makes you really happy that you'll keep forever. 0:09:16.200 --> 0:09:19.380 Oh, absolutely. Yeah. And hooray for the return of vintage 0:09:19.380 --> 0:09:22.559 interiors as well, because it means that you can borrow 0:09:22.559 --> 0:09:25.200 things from your mum and dad, as I sometimes do, 0:09:25.440 --> 0:09:27.030 or go to a charity shop or go to a 0:09:27.030 --> 0:09:30.059 secondhand store and get stuff on a budget. So if 0:09:30.059 --> 0:09:32.700 you have got your place and you're wanting to put 0:09:32.700 --> 0:09:35.910 your stamp on it, you'll probably have so many things 0:09:35.910 --> 0:09:37.530 that you want to do, and yet, you're on a 0:09:37.530 --> 0:09:40.319 budget. So how do you prioritize? 0:09:40.530 --> 0:09:43.170 So the first thing we'd say is don't rush into 0:09:43.170 --> 0:09:45.870 anything. So go in, live in the space, see where 0:09:45.870 --> 0:09:48.120 the light comes from, see the rooms that you're using. 0:09:48.510 --> 0:09:50.160 You might want to think about doing one room at 0:09:50.160 --> 0:09:51.990 a time. It might be a way to sort of 0:09:51.990 --> 0:09:53.850 budget and learn what you like and what you don't 0:09:53.850 --> 0:09:56.640 like, but you also need to make sure you've got 0:09:56.640 --> 0:09:58.890 to stick to plan and a budget. Because you might 0:09:58.890 --> 0:10:00.900 end up with half- finished rooms. And one thing we'd 0:10:00.900 --> 0:10:02.280 say is also that you might have to look at 0:10:02.280 --> 0:10:04.709 the fundamentals. So what you don't want to do is 0:10:04.710 --> 0:10:07.170 to redo a room and then, find out you've got 0:10:07.170 --> 0:10:08.790 to rewire and you've got to tear it all out 0:10:08.790 --> 0:10:10.380 again. And that's a waste of money really. 0:10:10.380 --> 0:10:12.929 So you've got to start with the basics, how the 0:10:12.929 --> 0:10:17.010 house is wired, whether there's any structural issues. Is there 0:10:17.010 --> 0:10:19.920 something that you can do to really uncover those problems 0:10:19.920 --> 0:10:20.610 in advance? 0:10:20.850 --> 0:10:23.550 So what we would suggest is that, when you're looking 0:10:23.550 --> 0:10:25.740 to buy the property, that you've done a building survey. 0:10:26.070 --> 0:10:28.350 If you haven't, you could probably do one afterwards. It's 0:10:28.350 --> 0:10:31.650 a really good manual for maintenance. And sometimes, if you get 0:10:31.650 --> 0:10:33.390 the right building survey, it'll even give you an estimate 0:10:33.390 --> 0:10:35.820 of cost, so you can plan out what you're going 0:10:35.820 --> 0:10:37.800 to do in the future. And then, other things you can 0:10:37.920 --> 0:10:40.050 do, kitchens are a really good way. We know it 0:10:40.050 --> 0:10:43.950 adds value, but don't go for the designer. Affordable brands, 0:10:44.130 --> 0:10:46.800 really easy to do. Sometimes, you can just repaint cabinets, 0:10:47.130 --> 0:10:51.030 add a bit more storage, redo the taps, some easy 0:10:51.030 --> 0:10:53.280 quick wins there, and you can really make a stamp 0:10:53.280 --> 0:10:54.540 and add a value to your home. 0:10:54.750 --> 0:10:57.240 Yeah, when I moved into my place, I kept the 0:10:57.240 --> 0:10:59.250 frame of the cupboards in my kitchens, but I just 0:10:59.250 --> 0:11:02.250 replaced the doors and I replaced the kitchen top. And 0:11:02.280 --> 0:11:04.469 it made it look like a new kitchen without having 0:11:04.470 --> 0:11:06.750 to rip it all out and start all over again. 0:11:06.780 --> 0:11:08.760 And another tip is also what a lot of people 0:11:08.760 --> 0:11:11.550 do, they can get IKEA cabinets, so IKEA cabinets are 0:11:11.550 --> 0:11:14.700 quite cheap, and get your own doors on there. But 0:11:14.700 --> 0:11:17.190 the more bespoke a kitchen it is, the more likely 0:11:17.190 --> 0:11:18.540 the next person might not like it. 0:11:18.960 --> 0:11:21.329 That's a very good point. So spend a bit of 0:11:21.330 --> 0:11:24.090 money on the kitchen, but maybe don't be too design- 0:11:24.090 --> 0:11:26.730 led with it, try to be a bit realistic about 0:11:26.730 --> 0:11:27.900 what future people would want. 0:11:28.080 --> 0:11:30.990 Yes, exactly. And you might want maybe plainer colors, but 0:11:30.990 --> 0:11:33.179 then, go wild with the wallpaper, go wild with the 0:11:33.179 --> 0:11:35.640 backsplash, put your own mark on it, but something that 0:11:35.640 --> 0:11:37.860 somebody else can think, " Okay, I can redo it or 0:11:37.860 --> 0:11:38.700 do something different." 0:11:38.760 --> 0:11:41.190 Yeah, that's a great tip. And also, if you're moving 0:11:41.190 --> 0:11:43.860 into a place, is there a case for roughing it 0:11:43.860 --> 0:11:45.929 for a while, if you haven't moved all your furniture 0:11:45.929 --> 0:11:48.240 in there, so long as you've got a running tap, 0:11:48.510 --> 0:11:50.880 a kettle to make some tea, and you can keep 0:11:50.880 --> 0:11:52.620 the place warm? Is there something to be said for 0:11:52.620 --> 0:11:54.690 just setting up a camp bed in the house and 0:11:54.690 --> 0:11:56.670 then, doing the works as you go? 0:11:56.730 --> 0:11:59.040 Yes. And also, if you are planning to do a 0:11:59.040 --> 0:12:01.470 whole house renovation, to be able to live in the 0:12:01.470 --> 0:12:03.390 house while the builders are there, it can be a 0:12:03.390 --> 0:12:04.650 bit of a pain. You might have a lot of 0:12:04.650 --> 0:12:07.920 takeaway pizzas, but it's actually quite good to keep an 0:12:07.920 --> 0:12:11.069 eye on the builders and you save money then having 0:12:11.070 --> 0:12:13.980 to decamp somewhere else. And so, we always suggest that, 0:12:14.190 --> 0:12:15.839 if you can, rough it a bit. 0:12:15.870 --> 0:12:18.150 Rough it, put up with the takeaway pizzas, it's worth 0:12:18.150 --> 0:12:20.730 it in the long run. So are there some common 0:12:20.730 --> 0:12:23.790 pitfalls of home renovations that we need to watch out for? 0:12:24.210 --> 0:12:28.410 Well, the big thing is budgeting. So it's expensive. Construction 0:12:28.410 --> 0:12:30.990 costs are very high. And then, the one thing to 0:12:31.530 --> 0:12:34.260 make clear to people is that the fact that tradesmen 0:12:34.260 --> 0:12:37.950 or builders, they're not regulated. So find the right tradesmen 0:12:37.950 --> 0:12:41.339 to do the job. We've got great platforms out there 0:12:41.340 --> 0:12:45.570 on websites to find a builder, but they're not regulated. 0:12:45.570 --> 0:12:48.390 So a good builder is one that has got good 0:12:48.390 --> 0:12:52.290 reviews, you've got local recommendations, and you might have to 0:12:52.290 --> 0:12:53.880 wait six months to get them around to you. And 0:12:53.880 --> 0:12:56.550 that's a good sign. So unfortunately, anyone could be a 0:12:56.550 --> 0:12:58.920 builder, and if you don't know what you're doing, they 0:12:58.920 --> 0:13:00.120 can take advantage of you. 0:13:00.179 --> 0:13:03.360 It's really surprising to learn that builders are not regulated 0:13:03.360 --> 0:13:06.179 in that way, when they could potentially do a lot 0:13:06.179 --> 0:13:08.520 of things to your home and take a lot of 0:13:08.520 --> 0:13:10.500 value off the home, and there wouldn't really be that 0:13:10.500 --> 0:13:11.160 much comeback. 0:13:11.190 --> 0:13:13.830 Yes, and it's really, really hard to get to redress 0:13:13.830 --> 0:13:16.079 for that. So what we'd always say is that, if 0:13:16.080 --> 0:13:18.090 you do find a builder that you want to use 0:13:18.090 --> 0:13:20.910 or a tradesman, is make sure you have a contract 0:13:20.910 --> 0:13:23.309 in place, make sure you don't hand over all the 0:13:23.309 --> 0:13:26.850 money in cash, because that won't protect you. Really get 0:13:26.850 --> 0:13:29.819 involved in the building work. So don't just rely on, " 0:13:29.820 --> 0:13:32.010 Oh, I think this will be fine." You really want 0:13:32.010 --> 0:13:34.770 to become an expert on that. And the thing is that that 0:13:34.770 --> 0:13:37.050 will really help you for the future, because you'll always 0:13:37.050 --> 0:13:38.700 have to do some sort of project in the future. 0:13:38.700 --> 0:13:40.770 So you've got to get yourself involved in it. 0:13:40.860 --> 0:13:43.410 And do you have to get used to potentially budgets 0:13:43.410 --> 0:13:44.610 overrunning as well? 0:13:45.030 --> 0:13:47.309 Of course, if you get three quotes and not going 0:13:47.309 --> 0:13:49.830 for the cheapest quote, making sure you get everything done 0:13:49.830 --> 0:13:52.350 in writing. Sometimes it's surprising that you might say, " Well, 0:13:52.350 --> 0:13:54.570 it'll cost X amount to do a bathroom." But they say, " 0:13:54.570 --> 0:13:55.830 Oh, well, by the way, but you have to pay 0:13:55.830 --> 0:13:58.650 for all the grouting, and of course, you've got to pay for 0:13:58.650 --> 0:14:01.290 the tiles." You can cut costs, but if you can 0:14:01.290 --> 0:14:04.230 source some of the tiles, the furniture, the sanitary ware, 0:14:04.380 --> 0:14:05.731 that could be a brilliant way to save money. 0:14:05.731 --> 0:14:08.010 And it may be that you can put up the 0:14:08.010 --> 0:14:11.280 tiles yourself. There is always YouTube to help. Yeah, so 0:14:11.280 --> 0:14:13.770 keep an eye on the builder, make sure they're doing 0:14:13.770 --> 0:14:16.710 what you want them to do, and possibly build in 0:14:16.710 --> 0:14:18.540 a bit of a buffer in terms of your budget 0:14:18.540 --> 0:14:19.080 as well. 0:14:19.260 --> 0:14:23.340 Yes, we always say 10%, and this 10% is always for stuff 0:14:23.340 --> 0:14:25.770 that is not expected, especially if it's an old house. 0:14:25.770 --> 0:14:28.320 No, you very quickly learn what is doable when you 0:14:28.320 --> 0:14:30.300 move into a place and all these dreams that you 0:14:30.300 --> 0:14:30.870 have in your head. 0:14:30.870 --> 0:14:32.580 But what you really don't want to do is to 0:14:32.610 --> 0:14:35.640 put yourself in a position where you're vulnerable to a 0:14:35.640 --> 0:14:38.370 builder that just walks away, takes your money, or holds 0:14:38.370 --> 0:14:41.160 you to ransom, pulls out your kitchen, says, " I want 0:14:41.160 --> 0:14:44.910 more money before I carry on." And unfortunately, this stuff does happen. 0:14:45.300 --> 0:14:45.990 That's the worst. 0:14:45.990 --> 0:14:48.390 My philosophy has always been almost do it first yourself, 0:14:48.870 --> 0:14:50.609 and then, even if you make a mess of it, 0:14:50.610 --> 0:14:53.070 then you understand, when you get somebody professional in to 0:14:53.070 --> 0:14:54.869 do it, you can then make sure they do a 0:14:54.870 --> 0:14:55.650 professional job. 0:14:55.710 --> 0:14:59.760 Those issues around making sure that you're getting good word 0:14:59.760 --> 0:15:01.920 of mouth, et cetera, they don't just apply to builders, 0:15:01.920 --> 0:15:02.460 do they? 0:15:02.880 --> 0:15:05.430 Not at all, really. For smaller jobs, like if you 0:15:05.430 --> 0:15:08.760 need a handyman or a decorator, you can go to 0:15:08.760 --> 0:15:11.790 these find- a- builder platforms, but also, go local. The 0:15:11.790 --> 0:15:15.660 decorators locally, they're relying on their local reputation. But I 0:15:15.660 --> 0:15:17.820 would still suggest that you still try to get stuff 0:15:17.820 --> 0:15:20.490 in writing or really hone down exactly what they're going 0:15:20.490 --> 0:15:21.960 to do. Are they going to do one coat of 0:15:21.960 --> 0:15:24.540 paint? Are they going to be plastering? So you really 0:15:24.540 --> 0:15:26.880 want to understand, so you're both on the same page 0:15:27.030 --> 0:15:29.130 and you're not disappointed if they're not doing as much as 0:15:29.310 --> 0:15:30.330 you thought they would do. 0:15:30.810 --> 0:15:32.280 So this is going to be really tough, Paula, because 0:15:32.280 --> 0:15:34.530 you've just given me so many great hacks here. But 0:15:34.530 --> 0:15:36.930 if we had to whittle this down, what would be 0:15:36.930 --> 0:15:39.600 your three top tips for doing up your home on 0:15:39.600 --> 0:15:39.990 a budget? 0:15:40.140 --> 0:15:43.080 So I would say get your sequencing right. You do 0:15:43.080 --> 0:15:45.780 not want to do something and then, have to pull 0:15:45.780 --> 0:15:48.330 it out again. So look at the fundamentals, look at 0:15:48.330 --> 0:15:50.970 the wiring, the plumbing. You need to get that stuff 0:15:50.970 --> 0:15:54.180 done right. Make a plan, cost it, and stick to 0:15:54.180 --> 0:15:57.000 it. Be patient. As we said, the best tradesmen are 0:15:57.000 --> 0:15:59.250 booked out for months in advance, so don't feel you 0:15:59.250 --> 0:16:00.990 need to get done by Christmas. Because then, you'll be 0:16:00.990 --> 0:16:02.520 vulnerable to get things done. 0:16:02.520 --> 0:16:05.580 Fantastic, Paula, you've given me so much inspiration there. When 0:16:05.580 --> 0:16:07.380 it comes to doing up my next place, I'm going 0:16:07.380 --> 0:16:09.570 to take all those hacks with me. Thank you very 0:16:09.570 --> 0:16:10.440 much for joining us. 0:16:10.620 --> 0:16:11.100 You're welcome. 0:16:11.100 --> 0:16:16.890 Paula, that's been so helpful and inspiring. I can't wait 0:16:16.890 --> 0:16:20.550 to do a bit of DIY after that conversation. Next time, 0:16:20.580 --> 0:16:22.980 I'll be joined by Joe Ryle from the 4 Day 0:16:22.980 --> 0:16:26.460 Week Foundation to talk all about flexible work and getting 0:16:26.460 --> 0:16:29.640 that crucial work- life balance. I'd love it if you 0:16:29.640 --> 0:16:32.400 could follow the podcast, leave us a review, and help 0:16:32.400 --> 0:16:35.250 others get a little bit richer too. You can keep 0:16:35.250 --> 0:16:38.700 up with the show on YouTube, TikTok, and Instagram at 0:16:38.760 --> 0:16:42.210 Legal & General. Thank you so much for listening. Until next 0:16:42.210 --> 0:16:43.530 time, see you soon.