Inspired by The Block to renovate? Here's how to start planning your budget

The new series of The Block inspires many of us to embark on a renovation project. Home improvement has almost become a national obsession. As each room on The Block is revealed it sparks DIY gusto across the nation, making even the novice do-it-yourself enthusiast think they are capable of renovating singlehandedly.

It is hard not to feel apprehensive when initially beginning a home renovation, with the journey of dust and disorder ahead. The hard work will pay off; being heavily involved with a renovation project from the beginning makes the end result even more satisfying.

From the onset be realistic, particularly with the timeframe and budget. Set objectives to ensure the renovation lives up to your expectations. Plan the renovation before the first trip to the hardware store.

The budget should be broken down to include every anticipated expense. It is crucial to factor in a buffer to allow for any hidden costs or hiccups along the way – these can be costly. Any must-have luxury items with a hefty price tag are best kept as a separate line item. Anything unexpected that crops up along the renovation journey will be non-negotiable while the bespoke freestanding claw footbath can be revised.

Getting quotes from professionals is advisable for any major expense. Opting for the lowest-priced quote is not the best method. The adage “you get what you pay for” springs to mind. However, remain realistic and stick within your financial means.

Renovations are disruptive – even for the meticulous planner who thinks they have thought of everything, curve balls always present. It is worth considering staging a major renovation, breaking the disorder into smaller, manageable sections. This will provide an element of normality to family life in between projects and is especially advisable when bathrooms and kitchens are tackled.

Before any major renovations begin, invest in a building inspection. Being prudent means you start the process with your eyes wide open: an inspection will highlight any serious issues, especially structural problems. Discovering a major structural problem halfway through a renovation can be costly as well as a heart-stopping moment.

A home valuation is a worthwhile investment to determine the value of your home prior to any work; this will also provide insights on the improvements that could boost the property value. Overcapitalising is one of the biggest renovation pitfalls, but if you are renovating your “forever home” rather than selling, this might not be such an issue.

• Related: The biggest mistakes people make when renovating
• Related: Behind the scenes: Rebecca Judd’s Prahran renovation
• Related: The Block 2017: Judge Alice Stolz’s renovation checklist

There are two main things I have learnt from The Block: expect the unexpected, and teamwork is key. Both elements will lead you to renovation success.

Also, don’t forget to celebrate your newly renovated home – throw a barbecue to show off your finished project and inspire your friends and family to do the same.

• Dr Nicola Powell is a data scientist at Domain Group. Tweet your questions to @DocNicolaPowell