Have you found a home you love, but that needs a little work? Never fear. The idea of buying a fixer-upper is much less daunting once you know what you're in for.

Define your renovating goals

There are two main reasons for renovating — either to add comfort, or to sell. Both require very different approaches and have very different outcomes.

If you don't intend on selling straight away, the money you spend on renovating will be an investment in the enjoyment of your house. Rather than appealing to the average buyer's tastes with a bunch of neutrally coloured, mid-range fixtures; you can splash out on expensive fittings that are more likely to stand the test of time.

Get council approval

Planning and approval, like council permits can take a long time so it's important that you get these processes underway as soon as possible.

You will then need to lodge a formal development application for the property address. This process differs from council to council but usually involves submitting extensive building plans and proposals which will then undergo an approval process.

Depending on the particular council involved, this can take a fair amount of time (sometimes up to six months or longer) and needs to be factored into your decision. You should speak to your council early to find out about the approval process in your area.

Put together a budget

Before embarking on your renovations you should decide on your budget and make a list of everything you want and need in your new house, this should include everything from labour and material costs — everything down to the very last flyscreen!

Overspending is a real fear for many renovators, so it's a smart idea to allow for an extra 10 percent on top of your planned budget. That way, you'll always be prepared if you're faced with a host of unexpected renovation costs.

Manage your own renovations

If you want to save some cash, you can choose to manage your own renovations.

As project manager it's your job to organise and co-ordinate all the tradespeople and ensure everything runs smoothly and happens on time.

It's important to compare different quotes, to make sure you're paying a fair price. To renovate the easy way, just list your job on tendering website ServiceSeeking.com.au and watch the quotes come rolling in.

Whether you're giving your home a fresh lick of paint or tiling a kitchen splashback, by shopping around and comparing quotes, you'll ensure you're getting the best deal on your renovations.

To ensure your renovations are being completed by experienced professionals, look through your contractor's portfolio and ask for testimonials or referrals from previous clients. Don't forget that you're the one in charge so be firm about your expectations!

Selecting a dodgy business could cost you time and money. You will need to have total confidence in the company you employ — so do your research thoroughly.

Living with renovations

Deciding to renovate your home is a big step and one you have to be prepared for. It may mean months and months of living with building dust and materials in your yard and contractors traipsing in and out of your home.

Depending on the type of renovations you undertake, you and your family may even have to move out of the home for a short period of time. These are all factors to consider.

Provided you're familiar with all the different processes, your renovation experience can be a positive one. Even if there are a few challenges along the way, at the end of it all you'll be rewarded with a refreshed and revitalised abode you love coming home to.

Looking for more indoor inspiration? Check out our Indoor section.