10 money saving tips you should read before you renovate
Renovating costs can quickly get out of control!
Whether your budget is big or small – you want to try your best to stick to it! The good news is there are plenty of thrifty tips to help you save money when renovating without scrimping on quality or the end result.
10 money saving renovation tips
- Set your budget. This sounds obvious but if you don’t have a clear budget in mind then your spends can very easily get out of hand! Not only set a budget, but also get quotes and pricings for different elements of your renovation such as tiles, appliances, tap ware etc. so you know what you want to spend on each element.
- Do It Yourself. A lot of renovation costs are due to labour. Eliminate as many costs as you can by doing as much as you can yourself! You might not be a top tiler, but you may be a dab hand with the paintbrush!
- Pay cash. Pay for as much as you can with money you have already saved. This will cut down on costs of interest on personal loans or credit cards in the long run.
- Reuse and recycle materials. Have some leftover tiles from your kitchen? Maybe they would look good in your shower recess?
- Get thrifty. One mans junk is another mans treasure! Many people renovating their homes are doing it because they want to change the style. A lot of kitchens, bathrooms, doors and windows that are removed are all in great condition and may be just the style that you are looking for! Look on sites such as Gumtree.
- Sale shop. If you’re buying new, shop around for sales or display stock! Many places also price match or offer discounts if you buy multiple items – don’t be afraid to ask for a better price than what’s advertised either! Many places have a mark up and some wiggle room on the advertised price.
- Mix it up. Combine high-end expensive options with more budget friendly fittings. Often cheaper tap-ware combined with a luxurious basin can have a lux look!
- It’s not what you know, it’s who you know! Know any tradies or DIY experts who may be able to offer advice or help out with your renovation? What are friends for!
- Shop around. For everything you are enlisting the help of a professional for, get at least 3 quotes. This isn’t to say that you should always go with the cheapest quote but by getting multiple quotes you will get a rough indication of the cost and then you can balance this with their portfolio and reviews to choose the right tradesman for you.
- Don’t move plumbing. By far one of the most expensive elements of a renovation is significantly moving plumbing. If you can avoid this, you’ll save a fortune!