Most homeowners are continuously looking for ways to improve their homes. Whether you’re looking to improve the efficiency of your rooms to save money on your energy bills or simply wish to update the look and aesthetic appeal of your spaces, renovation projects are an important part of maximising the potential of your home.
However, house renovation can be expensive. Without careful planning and budgeting, it is easy for renovation costs and unexpected expenses to spiral out of control.
That is why we’ve put together this list of five ways to save money on home renovations. By taking on board some of our tips and tricks, we are confident that you will be able to achieve a high-quality home reservation with a very reasonable budget.
1. Stick to your budget
This may sound like a simple tip to start off, but so many people struggle to stay within the limits of the budget that they initially started with. There are several reasons why this happens.
Many people underestimate the costs involved with structural renovations and labour costs, and so, from the outset, they fail to set a realistic renovation budget. Some will discover new features and additions throughout the renovation and add these to the initial spending outlay. Others will simply overlook one aspect of the renovation (such as material costs) while calculating the original budget.
To help avoid these potential issues, you need to be disciplined with your budget calculations. Work out your home renovation costs with a detailed plan, then add an additional 10% to account for the inevitable unexpected costs. Take your time to work out how much of your disposable income can be committed to the budget so that you’re not left out of pocket down the line.
Finally, you should ensure that your initial budget covers the essential work rather than the more cosmetic renovation features.
2. Research before you begin
Preparation is everything when it comes to home renovations. The more you can do to plan and account for every eventuality, the less likely it is that you will have to pay for unexpected costs to complete your home improvement.
One essential step that you should take is to hire a surveyor for your property, particularly if you are planning on completing structural renovations. The surveyor will help you identify the necessary problems you should look to address as part of your renovation. Common issues might include asbestos in older buildings, dampness, and potential infestations.
You should also look to compare quotes from a large number of builders and companies rather than settling on the first one you come across. Not only will you be able to select the most cost-effective solution, but you will also get a broad picture of potential issues that you could look to address.
3. Do it yourself
One of the best ways to save money on your renovation costs is to complete certain jobs and tasks yourself. We’re not expecting you to pull on a pair of gloves and completely revamp the wiring in your living room! However, you may certainly be able to do some of the more simple tasks by yourself, which will save on labour costs for your builders.
There are plenty of fantastic video resources out there which demonstrate a massive range of home improvement jobs that can be completed on your own. You can also use our fantastic catalogue to make sure you choose the perfect products to help you get the job done.
4. Build a positive relationship with your builders
If you aren’t able to complete any of the work yourself and require professional workmanship for each stage, you should do everything you can to establish a positive working relationship with the people helping you out. Building trust throughout the process is a great way of maintaining transparency when it comes to running costs.
They are also experienced in what they do, so they may have some great insights into what will work well for your living space. Taking on board their suggestions may be another great way of saving money.
Additionally, if you discover extra costs throughout the renovation project, a builder is far more likely to negotiate favourable material and labour fees if they have been treated well throughout the process.
5. Take your time
Home renovation can be a stressful time and can cause major disruption to everyday life. As a result, most people like to get everything done and out of the way as quickly as possible.
This may not always be the best way of going about things. It is more important to get everything done right the first time rather than quickly, so take your time with things, as rushed work and planning mistakes can lead to expensive recovery work further down the line.
Prioritise the most urgent tasks so you won’t have to worry about them in the future. If you have a great relationship with a particular builder, but they are committed to other projects, take a break from the renovation until they are able to accommodate you again.
You should also look to avoid the temptation of trying to tackle every room at once. If you require a living room renovation, then make sure this is completed in full before moving on to your bathroom renovation.
Final thoughts
Settling on your home renovation budget can be stressful, particularly if you’ve never done this sort of thing before. There is always the fear that costs will quickly spiral or the final result will not turn out how you expected it to.
Always keep in mind that home renovation is not an exact science. Things may not always go to plan. However, as long as you are sensible and realistic in how far your budget can stretch and remain disciplined throughout the renovation project, you should end up with a home improvement that you can be proud of.
Part of your renovation may involve making improvements to your roofing and external structure. If this is the case, be sure to check out our fantastic roofing solutions from RapidRidge, Australia’s most innovative and exciting roofing revelation.
Additionally, you can check out our blog for in-depth articles on how to get the most out of your home, including our recent article on innovative ways to improve your home insulation.