Before starting a home renovation project regardless of its scope, it is a must for homeowners to know the legalities involved. Failure to do so can mean trouble. It could mean your renovation being stopped or pulled down.
To start with, do check your local council for any approvals that may be required for a home renovation. Do keep in mind that certain minor structures may need building approval such as those involving carports, fencing, decking and garden sheds. Even a minor task such as removing a tree from your property will need council approval. Alterations to services such as plumbing, drainage, electrical and gas do require approval and inspection although they may not need planning or building approval.
When neighbours are bound to be impacted by the home renovation works whether involving structures or noise, development approval is needed. For this purpose, a homeowner will need to submit a development application to the Council to carry out renovation works.
In addition to the structures, homeowners should also be aware that the work and materials still need to meet government standards.
In the event approvals are needed for your home renovation project, a council planner will advise you of the process and the documents you will need to accomplish.
Take note that most local governments have planning policies in place that allow minor changes in a home’s interior and exterior.
Normally, changes that don’t alter the structure or services do not need council approval.
As for the tradespeople, homeowners may need to have a simple contract with them that details the scope of work, cost of labour and any warranty. You can ask for referrals and make sure to check their credentials such as licence and insurance policies.
With regards to tax, a renovation project has no direct tax implications. This covers income and capital gains tax. In the event you sell your main residence, it will also be exempt from capital gains tax. This includes the improvements made on the property and the land adjacent to the house as long as the total area is two hectares or less.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
Copyright 2018 | All Rights Reserved
WANT TO USE THIS ARTICLE?
You can as long as you include the following (links must be active):
With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
