We know renovation projects can be costly at the best of times – however, there are a number of ways to reduce some of those costs. Here are some tips that will help you achieve and manage a renovation that works both for your home, and your budget!
1. Create and stick to a budget
Before you get started on renovating your home, it’s important to know how much you can and are willing to spend. It’s best to have a starting figure before you begin making any design choices. You can then take note of the costs of fixtures and materials, and get a better grasp on what will work with your budget – and what won’t.
It’s also a good idea to set aside some of your budget for unexpected costs. Many renovators allocate 10% of their budget towards expenses that crop up along the way.
2. Do a bit of DIY
This one probably isn’t much of a surprise. Doing things yourself is one of the most effective ways to save money during a home renovation. Whether you’ve had experience with DIY projects or not – there are simple things you can do yourself to save on expenses. Whether its’ simply prepping a room by skim-coating walls or sanding surfaces – every little bit counts. Doing some of these things yourself can reduce the number of hours your tradies have to work for you – which reduces the number hours you have to pay for.
If you’re a little more skilled in DIY, don’t be afraid to try something new. YouTube can be a big help in learning some new DIY skills. However, be aware there are a few things you should not do yourself if you aren’t licensed – such as electrical work or moving utility points.
3. Reuse Materials
Another way to save on renovation costs? Reusing the materials you already have. Whether its’ reusing cabinetry, appliances, or refacing doors – making use of what you’ve got is a good way to keep some of your costs down. Even if you can’t reuse anything preexisting in your space, you can opt for buying material and fixtures from salvage yards and other second-hand places.
4. Wait For Sales Before Making Big Purchases
There are times of the year that are better for purchasing bigger items – like Boxing Day, or even Easter sales for appliances, electronics and power tools. Generally at the end of summer, we often see sales on outdoor furniture and lawn care items. Before making those big purchases, do some research on when you may be able to get a better deal during the time you plan to renovate.
5. Avoid major plumbing changes
If you can, try to keep the position and layout of your bathrooms and kitchens as making plumbing changes can be quite expensive due to the need to remove wall linings and making holes in the floors. If you feel like you have to reposition something, try keep the move to a minimum. And if you have to add in a new bathroom – try group it near your laundry room and other bathrooms to reduce any major adjustments.
6. Sell whatever you’re not using
Looking to replace some of your furniture during your renovation? That’s great. But don’t throw or give away your old pieces – sell them! Try selling those pieces you’d rather do without on TradeMe, Facebook Marketplace, or other buy/sell/trade sites. If nobody wants your junk, you can always sell metal items to scrapyards for cash. Or if you don’t need the money, you can donate your old furniture to salvation army.
7. Insulate during your renovation
Going through renovations is the perfect time to assess your current insulation. You can save money by sorting out your insulation needs during a renovation project, rather than later down the track. It’ll allow you to insulate your home before you finish your painting job, and without having to remove linings and undergo a mini renovation in itself.
At CosyWall, we can help you quickly determine if your home needs more or better insulation. Get in touch to learn more about how we can help you ensure your insulation needs are up to standard.
Need some more advice on your renovation plans? Head to our blog to learn more renovation tips that’ll help your next project go a little smoother.