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The cost of home renovations can very quickly add up. Regardless of whether you have a small or a large budget, the overall price of your home refurb can quickly get out of control. Luckily, there are some things you can do to save some money on your home refurbishments.
Below, we will go over some tips on how to save money on your home refurbishments.
Create a Realistic Budget
Before you decide to spend money on anything for your refurbishments, it’s important to come up with a budget so that you don’t end up overspending. Consider everything you need to purchase for the renovations and come up with a realistic budget that is both within your means and is enough to cover the costs of everything you need.
To make things easier, it’s a good idea to create a spreadsheet and add everything together that you will need for the work. Gather some quotes for the labour and materials and list these figures on your budget sheets. Jotting things down in the way will allow you to determine areas that will consume a large portion of your budget. You can make some adjustments by dropping some items or choosing cheaper materials for the work.
It’s also important to add a little extra to your budget for the unexpected. It’s recommended that you reserve around 10% of your budget for any mistakes or any unexpected additional costs that may come up during the process of the work.
Pay In Cash
When you choose to pay in cash for your renovations, this will help you save a significant amount of money in credit card charges or loan interests. If you are renovating your property because you want to sell your home, taking a loan out to fund the work may be sensible as you will be able to get a return on your investment, and you’ll be able to pay your loan off quickly.
In most cases, cash is the best option for funding home renovations. Consider trimming down your household budget in order to save for your renovation plans.
Take Your Time
Time is an essential part of planning for home renovations. Making detailed and achievable designs for your home renovations can be very overwhelming. This is why it’s important to take more time as needed to plan and complete the work. You may regret some of your choices if you rush into your refurbishments.
It’s best to start with the most intense project. Try focusing on just one or two rooms at a time and finish those projects before moving on to the next project. This will allow you to better control the work and will prevent you from running into any unexpected expenses.
Do Some of The Work Yourself
Some home renovations are quite intense or complex, so professionals will need to complete these parts of the work. However, there are some things that you can do to prepare your home before the tradespeople arrive to do the work. This may include things like cleaning up, preparing surfaces, or clearing space. This can help you save some time on the work and may help you lower the labour costs.
If you have some moderate DIY skills, there are some parts of the work that you may be able to complete yourself. For example, things like painting, fitting laminate flooring, and putting up shelves are quite simple, and you could save a lot of money when doing certain parts of the job yourself.
Avoid completing any work that requires a license or needs to be signed off. Qualified professionals must complete these types of jobs. All work must be completed under the building regulations rules.
Reuse Old Materials
You may be able to reuse some old appliances or cabinetry, and this is a great way to save some money on your kitchen renovations. For window installations, you can change the window panes if they are damaged or require an upgrade, but you may choose the maintain the existing frames as a way to save some money.
If you can’t recycle any old items, consider purchasing second-hand materials. This will allow you to get good quality items for a much lower price than if you were to purchase them in a brand new condition. Searching for second-hand items can be a lot of fun and will also allow you to add a lot of character to your home. Plus, reusing materials is much better for the planet and helps you save money.
Wait For Sale Items
When purchasing items for your home renovations, it’s smart to wait for sales on the items you need. There are regular sales throughout the year that most retailers take advantage of, such as black Friday or January sales.
If you can be patient and wait before completing the renovations, you will likely be able to grab some great deals on the materials you need.
It’s also a good idea to consider purchasing floor models as these tend to be cheaper, so you can get very high-quality materials for a lower price.
Be Smart When Hiring Tradespeople
When you are hiring people to complete the work for you, it’s important to be smart when doing so. Check for reviews and testimonials before hiring contractors. Alternatively, it’s a good idea to seek personal recommendations for tradespeople if someone you know has recently had any decent work done on their home.
In some cases, tradespeople will charge less during off-season times. Consider scheduling your work before the summer as this tends to be the most demanding time for contractors, and you may find that the work costs more.
Sell Anything You Are Not Using
If you are removing old fixtures or appliances that are still in good shape, you may be able to sell or trade these as a way of offsetting some of the renovation costs. Consider using sites such as Facebook Marketplace or eBay to sell your items.
Any money that you can make from selling your old items can be used towards purchasing new items. This may help you cover a significant amount of the total overall costs of your home renovations.