How do you save money on home renovations? Let’s look at some easy, no-fail ways to cut costs on your next home renovation project.
From time to time, many of us look at our homes and think…
I don’t like living here anymore!!
Frustration sets in, and you may very well ask yourself…
Moving house is one answer, but as we all know, this is stressful and costly. So, your other options are to do nothing and endure the misery of your home, or consider a renovation project; something else that is stressful and costly, but not as expensive as actually uprooting yourself. Still, if you are thinking of the latter, you don’t have to blow your entire budget on your project.
How To Cut Costs On Your Next Home Renovation Project
Here are the ways to cut costs (and not corners) if you do decide to embark on a home renovation project.
Think about what it is you want
What don’t you like about your home? What is it you want to change? It’s important to have a clear sense of purpose, as you may become too over-enthusiastic and end up going way over your budget. Perhaps think of one project at a time, such as a bathroom remodel one year and a loft conversion another. If you don’t have the money to make a lot of changes, it’s better to prioritise than take on more than you can afford.
Know your budget
It’s time to sit down with your bank statements and work out exactly how much money you have spare for the project. When you have figured out your budget, stick to it! Speak to renovation professionals (plumbers, builders, architects) on how to save money, and when you’re looking for internal fixtures, don’t visit those showrooms which contain items you know you can’t afford. You can get the look you need by heading to auctions and using price-comparison websites, so spend time shopping around. Planning is everything, so always let your head overrule your heart.
Shop around for quotes
Remember, cheaper is not always better! When you’re shopping around, don’t be dazzled by those who offer you work for less. This is a sneaky tactic used by less-reliable tradesmen who will add on charges later. Still, you don’t have to go for the most expensive offer either, assuming you will get better value for money. Look at online reviews for reputable firms, and then go to each for a quote. Bearing in mind the small print (you don’t want hidden charges), go with the firm you think is the most reasonable. Be prepared to negotiate too, as you may make a saving if you mention you are considering other contractors.
Know what it is you want
After coming to an agreement with a contractor, you need to be clear on what it is you are asking them to do. Assuming you have provided them with a set of clear plans, they will have told you of the expenses to expect. However, if you then change your mind on something after the project has begun, you are going to incur further expenses. The professionals you have hired may need to make adjustments that go over your budget, and they will also take longer on the project, which will further increase costs, especially when a timeframe has been stipulated in the contract.
Don’t cut any corners
Considering what we have mentioned thus far, there is the temptation to cut corners here and there. You may go for a cheaper firm to bring costs down. You may ask the building firm to use cheaper materials. You may even reduce the time frame to ensure work gets done faster. In each aspect, quality will be undermined. And when this is true, you are not only risking your family’s health and safety, as you are also increasing the chances of further expense when your home becomes the proverbial money pit as a result of your corner cutting. Sometimes, you have to pay more to ensure you pay less in the future.
Do it yourself
We say this with a warning. While there are some things you could do yourself without the expense of a professional, you should still hire somebody for those bigger jobs, such as plumbing, electricals and structural work. It’s about operating wisdom, knowing your skill set when considering what it is you want to do. You can save money this way, but you can also lose it if you really don’t know what you’re doing!
So, if you’re considering a home renovation project anytime in the near future, consider our advice. With careful planning you can cut costs, and provided you haven’t cut corners, you will still have a home left standing for many more years to come!