There are very, very few cases when people will renovate their home without budget being a major issue. Don’t feel like you’re on your own when you look for those money saving details. In fact, the more you plan your money saving tactics the less likely you are to go over budget or to get caught out on unexpected expenses.
We’ve put together a few tips for reducing expenses and ensuring that you can complete your projects without unexpected disruption or extra costs.
Think about wants separately to needs
When you’re at the initial planning stage, divide your list of goals into 2 sections: one which would contribute to your ideal home, but aren’t crucial, and one that you couldn’t live without. If you’re doing a kitchen renovation, for example, think about appliances you NEED and luxury light fittings that you WANT. If you put necessities at the top of the list, and more indulgent items at the bottom, then you can match up the costs against this new priorities list. This way, if you don’t manage to get all the way down the list then you won’t be in serious trouble.
Remember – you can come back to projects later.
As long as you have a functioning home you can come back to those soft close drawer slides and the lovely down-lighters at a later date when you have a bit more money saved.
DIY as much as you can
If you know your want around a roller and a drill then you can do some of the work yourself. Whilst we aren’t all capable of re-plastering a wall there are plenty of of things you can take on yourself.
Knocking down walls and removing old materials is a part of the cost that a professional will charge in a home improvement project. As long as you feel confident and understand how to properly tear out areas that will be replaced, why not handle it yourself? Always be careful to avoid any live wires, plumbing, and load-bearing walls that could put you in danger or cause the repairs to become an additional expense.
Before you jump into an entire home revamp, try starting with something easy and inexpensive. After you’ve tried your hand at renovating a bathroom or altering a doorway you’ll get an idea of material costs, organising labour and the ups and downs of the construction process. This experience will be invaluable when it comes to tackling larger projects involving contractors.
Budget for the Unexpected
“Even this best laid plans of mice and men go awry.” No matter who you are, or how prepared you are there will be surprises. As long as you’ve set aside a separate “damage control” budget specifically to cushion these unforeseen expenses you will never be caught out by them.
Ask a Professional
We’re not born knowing about the costs of building materials, they don’t teach you about labour costs in school, so there’s nothing wrong with needing a professional opinion. Getting in a professional contractor provide a realistic estimate will be a good idea in the long run and will allow you to plan your budget with more confidence.