How To Cut Costs On Your Home Renovation

The hefty price tag of a home renovation can be a major put-off, and many avoid any remodels until they can afford them. UK statistics indicate that 4 in 10 people postpone theirs for this reason. Fortunately, carrying out your desired improvements without breaking the bank is possible. You can use a budget to transform your dwelling place or make minor changes. The trick is to employ strategic cost-cutting measures without compromising quality and aesthetics. Below are some handy tips on cutting costs during your home renovation.

1. Set a Realistic Budget

A realistic budget is the name of the game. Commencing a home renovation project without knowing the financial implications is not advisable. Setting a realistic budget is the foundation of any cost-effective building project. First, take your time to thoroughly research estimates for every stage of the project. It’s equally important to compare estimates for building renovation materials, labour, and the timeline. The latter significantly affects the cost of the project.

Another important thing about setting a budget is providing a contingency fund. Typically, this should be 10 – 15% of the original budget, and the reason is to have a backup for unforeseen expenses, like a hike in building material prices. This step is a financial discipline you should never overlook, especially because it keeps overspending at bay. A well-planned budget helps you complete the project without many problems. A realistic budget makes effective use of prioritisation. For instance, it compels you to identify your renovation needs and wants. Which ones are urgent and important? By categorising these elements, you will be prevented from making impulsive decisions throughout the project.

2. Reuse and Repurpose

Aside from this step having positive environmental implications, they benefit your pocket, too. The eco-friendly benefits are why these two are widely accepted in building and construction. The best way to put them into practice is to look around your house to identify which materials can be reused and repurposed. Moreover, because it’s a renovation, you’ll likely find various materials suitable for the project, but you must take some precautions first. For example, you may encounter certain toxic materials when renovating an old house. These include asbestos, lead, radon, and other harmful materials. These are usually found in roofing materials, paint, old floor tiles, boilers, and so on. If unsure about the safety of these materials, remember to bring in professionals to test for the presence of these toxins. Reusing or repurposing these building materials is tempting, but they come at a huge cost to your health. Therefore, do not overlook your health, safety, and that of others because you want to cut costs. Sometimes, if not in most cases, cheap things come at an unimaginable cost. In the meantime, if everything is clear and safe, you can repurpose old cabinets, modern tiles and repaint furniture to save money.

3. Shop Smart for Materials and Furniture

There is a difference between ordinary shopping and doing it smarter. Smart shopping entails comparing prices across various suppliers in different places to get the best deals. Comparing deals from online and physical stores is even better in this digital age. The market competition creates an opportunity to land the best deals for your home renovation. You can also monitor discount sales, clearance events, and other marketing deals that will be favourable to your pocket. What you want is to benefit from significant savings on materials and fixtures. 

Another thing to keep an eye on is how much to buy. Bulk purchases save you money than buying in pieces due to the discounted rates that bulk purchases come with. Therefore, building materials like paint, tiles, flooring, and roofing are cheaper in bulk. Try shopping around online and visiting various websites such as Clear Amber Shop for bulk purchases before your home renovation starts. Regarding furniture, try charity shops, online marketplaces, and auctions to see what you can get without paying an arm and a leg for them.

4. DIY Where Possible

Are you a DIY enthusiast? Although DIY is usually frowned upon in construction-related matters, they can sometimes be lifesavers. Remember that the goal is to trim renovation costs, which will be impossible if you fail to be proactive. Painting, minor repairs, and driving a nail into a wall or bookshelf are easy DIY activities. Some installations also come with manuals; you only need to read and follow the printed instructions.

Aside from saving on labour costs, DIY gives a sense of control over the project. It is your home renovation project; naturally, you will feel responsible about how it takes off and pans out. The caution is to avoid going over your limits and know-how. Exerting control over your home renovation has nothing to do with cutting corners through DIY measures. If you do this, you are likely to cause damage or risk the integrity of the renovation. Complex renovation tasks should be reserved only for the right professionals. They will adhere to standards and codes relevant to the United Kingdom.

5. Consider Phased Renovations

Are you renovating your entire house? If that is the case, the best way to cut costs is to break the project into phases. That means tackling a few sections at a time, allowing you more time to build your financial resources while reducing the burden of a full renovation. This approach provides the flexibility to adjust your original budget to accommodate the different phases of the renovation. Usually, high-traffic areas like the kitchen and living room are best attended to first. They require more work and are often more capital-intensive. When that is out of the way, you can then take time to focus on other parts of the house listed in your phased renovation project. Overwhelming expenses are often the reason homeowners avoid overdue property renovations. Fortunately, phased renovation allows you to maintain financial control, which helps the project in the long run.

6. Get Your Permits in Order

Photo by Mikhail Nilov: https://www.pexels.com/photo/people-having-a-meeting-7731327/

The UK has clear rules on building permits before commencing a home renovation project. Ignoring this increases your risk of paying more for the project. For example, if you started the renovation without seeking the required permits, the law is triggered, and you will pay hefty fines for flouting it. The laws on property alterations and structural changes exist to ensure safety and compliance. Your best bet would be to familiarise yourself with local planning laws and building regulations before the project starts. The last thing you want is to be slapped with expensive fines when you want to save money in the first place.