If you’re feeling a little restless and ready for your next renovation or DIY project, don’t fear. We’ve got all the tips you need for saving money on house renovations.
Create your budget
In order to save money, you need to know how much money you have to work with. Creating a realistic budget is a balance between how much money you have and what work you want to be done. Make sure to get a variety of quotes and cost-up materials to get a better idea so you know exactly how much you’re going to need.
Adding all the potential costs into a spreadsheet can help you get a fuller picture of your outgoings and which areas of the renovation will eat up the most money. From there, you might be able to find dupes of different materials, compromise on certain elements, or figure out a way to do some of the work yourself.
Think cash, not credit
While the world may revolve around ‘buy now, pay later’ options, this is no way to save money or stick to a budget. Where possible, try to pay in actual cash, as the psychological connection to handing over your hard-earned money is much strong than paying on debit or credit card.
With a credit card, while you may be within budget now, you won’t be when the interest adds up. When taking on any renovation, it’s best just to spend the money you have rather than finding a way to pay things back in installments.
By giving the renovation a go yourself, you could save a lot of money (unless it goes totally wrong).
Whether you’re a skilled manual worker or a clumsy office temp, there are plenty of ways to save money by doing some bits yourself. Those who are daring enough can get kitted out with tools and materials from places like Tradefix Direct, and attempt to re-tile or do smaller jobs with the help of a few YouTube videos. If you’re not confident enough for that, preparing the space, protecting furniture, and removing old tiles, wallpapers etc., can save you a pretty penny.
When you hire contractors to do the work, you’ll likely be paying by the hour. So anything you can get done yourself will save them time and your money.
Balance high ticket items with reused materials
There are some things that you refuse to compromise on. Perhaps you’ve found the perfect rainfall shower head or a beautiful new stove that you simply cannot be without. These high-ticket items are totally fine to add to your budget, but where can you cut costs from elsewhere to balance it out.
Maybe the kitchen cabinets could be sanded and painted? You could even buy tile paint to totally transform your old bathroom, ready for the new, expensive shower to take center stage.
Take a look at furniture and materials around the house that could be potentially be reused. You’ll be surprised what you can make out of an old spare bit of wood!
Let us know your other tips for saving money on renovations!