8 Clever Ideas to Cut Renovation Costs
Renovating a house is probably one of the most exciting and rewarding projects you will undertake. In the same breath, it is also likely to be one of the most stressful and expensive projects you will ever do. This means you will always be looking for ways to save money.
There are a few things you can do to keep renovation costs down. With careful planning and a little know-how, you should be able to avoid overspending but get the results you want.
These tips will come in handy whether you’re completely renovating a house, a small portion of a house, building an extension or planning on building your own home.
- Be REALLY realistic about what you can achieve for your budget
If you £10k in the pot to build and finish the project, it won’t stretch to a three-storey extension with gold-plated taps. Be realistic about what you can achieve, splitting your budget to meet key priorities.
- Plan your renovation in detail
The key to successful project managing a build or renovation project on a budget is to plan everything in detail. Being almost obsessive over every detail will mean you get the finish you want.
- Consider hiring an architect
For some projects, hiring an architect can be a wise investment of a portion of your budget, even if it just for drawing up the plans.
- Get AT LEAST 3 quotes for everything
It’s tempting when time is pressing to opt for the first quote you get, whether that’s from a builder or a trade. Get at least three quotes for everything, making sure that everyone has the same brief so you can compare like with like.
- Keep a tight check on your budget
As a minimum, you should be checking your budget daily making sure you update it regularly as soon as you have paid an invoice, ordered materials or agreed to a quote from a trade person. This way, you will have a real-time understanding of the state of your budget and when you need to slow down spending or start shaving money off the price of things.
- Prioritise wants and needs
Want is different to a need – you need light in a room but you want that particular style of lighting. Once you have the basics in place – like the electrician fitting the lights and switches etc. – you now need to decide if you have the budget for the light fittings you want.
- Keep your eye open for bargains
From buying ex-display items such as kitchens or bathrooms, it’s buyers’ market out there so keep your eye out for bargains.
- Learn to haggle
People on the continent do this all the time but here, we tend to pay the price on the ticket and not really ask what discounts are available. If you are buying a considerable amount of materials, items or time for someone, ask what their very best price is – and you’ll be surprised to find that they will either offer a discount or throw in something else for free!
Get the extension or renovation of your dream with us. Get in touch to find out more about what we do and how by working together, you can finish your project on budget!