Home renovations are a fantastic way to make your home feel brand new without all of the stress of moving to a new home. Whether you’re updating the functionality of a space or simply looking to give a room a fresh, vibrant look, renovating is the way to go. However, it can be a costly and time-consuming process. With the cost of materials, contractors, labour and project managers, it is so easy for a budget to be blown in no time at all. Take a look through our 6 easy ways to lower the cost of your home renovation so that you can have your dream home in no time.
1. Budget carefully
The first thing you should do when you are undertaking a renovation is to work out a budget and stick to it. Take a proper look at how much money you can afford to spend and work out how much everything is likely to cost and add around 10% of those costs to create a realistic estimate of the cost of the project including any unexpected extra work or pricing problems. Factor practical elements into your budget too, such as any hotel stays you might need during renovation or food costs if your kitchen is inaccessible for a while. Make sure you stick to this budget throughout the duration of the project and don’t go over it.
Additionally, it’s also very possible for you to undertake renovation projects yourself, from painting your front door to adding wallpaper for an accent wall. This way, you can cut certain costs which you may be able to reinvest in other areas.
2. Project manage yourself
One of the best ways to save money on a major project is to project manage yourself. If you’re efficient, not hiring a project manager could result in savings of up to 10 to 20 per cent of the project as a whole due to saving the contractor’s time and sourcing your own materials.
To do this yourself you’ll have to be organised and have at least a basic understanding of how the different building processes work – from designing to the actual building. You’ll be in charge of finding and hiring workers for every job and making sure that they have access to everything they need, including materials, tools and information.
If you are not living on-site while renovation work is taking place, you’ll need to visit at least twice a day, every morning and evening. Additionally, keep your phone on you and make sure you are easy to get a hold of to answer any questions that the workers on-site may have.
3. Shop around for contractors
When it comes to hiring contractors, you should shop around a little and obtain quotes from a few different contractors before making any decisions. Take a look at local businesses and contractors, and ask around friends and family for recommendations of trusted contractors. Once you have a few leads, reach out with more detailed information and collect some quotes. Don’t be persuaded exclusively by price, instead opt for a contractor with good service and who has good recommendations and credentials to make sure that your project is in good hands.
4. Ask your contractor for leftover materials
Contractors tend to have a selection of leftover materials and parts from previous jobs which you can ask for access to cut costs on your own renovation. There will often be a selection of things such as paint, wood, following or tiles that a friendly contractor will be willing to let you take or buy from. This is a great way to reduce costs as you won’t need to buy all of your materials brand new.
5. Buy an ex-display piece
On a similar note to taking leftover materials, you can really cut costs on a high-impact home renovation by opting for ex-display pieces. Kitchen units which have been used in a showroom can be purchased for a fraction of their original retail prices, and the available showroom pieces are regularly updated as displays are changed and updated with the latest trends.
6. Revamping Over Remodeling
When you’re renovating, take a look inside your home for inspiration. If you’re planning on updating your door or ripping out your old kitchen cabinets, take a look at the materials and see if there’s anything else that could be done with them. Consider taking on small DIY projects to give old, worn parts of your home a new lease on life. Even small touch-ups such as a coat of paint or two on that old, beaten up dresser or an updated lampshade could transform a room for a fraction of the cost of a full-blown renovation.
