Renovation budgets can quickly blow out of control, but with clever planning and a bit of know-how there are ways to save.
It’s important to know where you should try and cut costs and where to spend the money so that you end up with a new space that has been completed to a high-quality and will stand the test of time.
Know when to DIY
One of the best ways to save money on a renovation is to do a lot of the hard work yourself, however if you take on more than you’re capable of you might end up needing someone to come in and fix up your mistakes.
When it comes to DIY it’s best to stick with the work that doesn’t require too much skill, so you can leave the tricky stuff to the professionals.
Some tasks that home renovators may like to tackle themselves include doing demolition work, painting or landscaping. However keep in mind that you should always check if a wall is load bearing or contains asbestos before you get out the crowbar.
If you are hiring a builder or tradesperson to carry out any work for you, ask if there is anything you can do to help cut down on the hours they will need to work, such as prepping or cleaning up the site for them.
New products can be costly, so if there is anything you can salvage and re-use then you can make huge savings.
Things like old doors or cabinets can scrub up like new again with a sanding and a new coat of paint.
If you need to find new items, then you could consider searching for items that have been pre-loved by someone else.
Search buy/sell/trade websites or go on the hunt for used materials in the area. You might be surprised at what can be found at a fraction of the price of something bought brand new.
Find affordable materials
Sure a marble benchtop might look nice, but there are plenty of cheaper materials that can provide the same look for a fraction of the price.
Try to avoid going for the most high-end products you can find. In many cases using high-end products add little to the overall aesthetic, but they will add a huge dent in you bank balance.
Save high-end products for small items where you really want to make a statement, but don’t feel the need to choose them if they aren’t within your budget. Which brings us to the next point…
Stick to a budget
It’s easy to get carried away with renovations so it always helps if you have a well-planned out budget in mind. Cost up everything you want to do, being as detailed as you can. Seeing your budget laid out on paper may also help you work out the areas where you are spending too much and could cut back.
It is often a good idea to have an extra 10% saved away to add to your budget in case any problems come up along the way, but if you plan thoroughly enough then hopefully this won’t be needed.
Get lots of quotes
When hiring people to carry out work for you it’s always worth getting at least a second or a third opinion. Costs can vary greatly between contractors so you can save just by taking the time to see what different people can offer.
Also before hiring anyone it is also a good idea to find reviews and make sure that they are trustworthy and will carry out the work to your satisfaction.
Take your time
Renovating can be stressful. Take your time in the planning phase so you know exactly what your goals are and you don’t make any rash decisions that you’ll regret later on.