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How To Optimise Your Budget When Renovating Your Home

How Optimise Budget When Renovating Home

How Optimise Budget When Renovating Home

Home renovations can cost a lot of money. And when you do not have a big budget to work with, any money-saving tricks are most welcome. You do not have to spend on high-end materials to achieve a luxurious space. There are a number of ways to save money without sacrificing the quality of the build.

Aside from finding ways to save on the whole project, it is important to:

  • Set a budget and stick to it
  • Set a definite time for completion
  • Hire the right contractor
  • Consider the resale value or cost recuperation

Getting the project done right and on time can mean getting it done for less. But there are more ways to save money on the project too. Here’s how:

Plan Ahead

Plan the remodel by getting the designs and blueprint done early before you start. Look out for deals and promos for the materials, furniture, fixtures and accessories. Buy them during promo season before you start the project. Do not be in a hurry to start.

Make sure you have the materials sourced, ordered and in stock before you officially start the build. Once you start, you cannot delay or stop because you run out of materials. Have everything on hand. Be fully committed even before you start. 

How Optimise Budget When Renovating Home

Expect The Unexpected

Anticipate delays, mistakes, and accidents so you have enough wiggle room in your budget, time, and materials. Do not order the exact quantity of materials, always get extra in case some tiles break, etc.

Expect delays or mistakes in the materials you order so leave room in your schedule for some delays. Minor mistakes can set you back a day or two and can create a domino effect. Always be ready for the unexpected.

Do Not Change The Existing Floor Plan

If it’s not broken, don’t fix it. If your existing layout works just fine, do not move or change it. Moving the floor plan means moving the plumbing and electrical system, possibly the HVAC system too. This is very expensive. Try to work with the existing layout to save money, unless it is absolutely necessary to do so.

Use Stock Sizes

Choose standard sizes for your materials as this is cheaper than custom pieces. This works for storage and fixtures too. It is also easier to source out materials with standard sizes so you don’t only save money, you save time as well.

Buy Cheaper Materials

Buying cheaper materials does not mean you are sacrificing the quality of the materials. Sometimes, where you buy the products matters.

For example, tiles are much cheaper at resale or outlet stores than in big home improvement stores. You can also find high-quality materials at a better price in online stores like eBay or Craigslist. Canvass the cheapest price from different stores before you buy.

How Optimise Budget When Renovating Home

Building Supply Auctions

Check for state and local auctions for building supplies. There are plenty around. Ask your local business association or your local authorities for scheduled auctions. Building auctions is a great place to buy good quality materials in bulk at a much lower price.

Haul The Materials Yourself

Where possible, try to pick up the materials yourself so that you can avoid expensive delivery charges. Renting a truck yourself instead of using the store’s delivery can save you a lot of money or better still, ask your mates to see if someone has a ute that you can borrow for half a day.

Stay Away From Recent Trends

Stick with classic materials and design. Avoid going with the trend. Trendy materials are expensive and can easily go out of style fast. Going with classic colours and style means you do not have to update your space often and the materials can easily be sourced. They are cheaper too.

Do The Small Jobs Yourself

Save on labour costs by doing the small jobs yourself. Labour costs have skyrocketed in recent years. A few odd jobs that you can do yourself can significantly lower your labour costs.

Save On Appliances 

There are ways to save on appliances:

  • Buy during promos and big sales
  • Look for unnoticeable scratches and dents
  • Buy used but not abused furniture and accessories
  • Skip the extended warranty

Do you want to learn more ways to save on your remodelling project and achieve the space you have been dreaming of? Talk to our designers and experts now! 

Please call us today at Period Extensions & Designs on (03) 8658 1340 or contact us through our contact form.

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