You have finally decided that you are going to give your home a facelift. You might just simply be fed up with the outdated decor, craving a more functional set up, or be planning to sell your home for profit.

Whatever your reasons for choosing to renovate, there are a few things that you can do to make the process simpler as well as stay on budget.

Choose DIY wisely

It’s become more and more common to take on DIY projects yourself. Especially with so many great video tutorials online, reviews, tips, and free or low-cost workshops you can attend at local hardware stores.

Take a realistic look at your skill set, knowledge, and the effort and time required to do something yourself. If it is going to save you a huge amount, is simple enough to get a professional finish, and won’t take up massive amounts of time then go for it.

Sometimes when you look at the cost of having a contractor come in and take care of a job for you, and you compare this to costs of materials + time you are spending on it, the costs outweigh the benefits, and it’s better off getting professional help.

Get multiple quotes

Choosing from 3-4 quotes for a project means that you can make a judgement not only on price but on how confident you feel with that tradesperson. You may opt to pay slightly more but be confident in the quality and finish, rather than going for the lowest quote.

Go for big impact

Some changes can make a big impact without having to completely replace or change things. For example, putting in a new kitchen that fits into the existing floor plan will be less costly than tearing down walls, and repainting existing cabinetry instead of replacing can make a big difference to the appearance of a kitchen with even less cost.

A cost/benefit analysis that makes your home more visually appealing but stays within budget and is functional is a great strategy.

Choose quality

If you are planning to stay in your home, the last thing you want to have to do is replace items that can’t handle the wear and tear of daily life. Choosing cheap materials could end up costing you more in the long run if they need to be replaced after a few years. It might be more sensible to pay slightly more now for high quality materials that last a decade or more.

Overestimate your initial budget

Set up a bit of a buffer for costs in your renovation budget, but then do your absolute best to go under budget in every way that you can. Make it a competition with yourself to see just how much you can get for that budget. Don’t be tempted to upgrade just slightly on each item because this adds up in no time. Have a set amount you are willing to spend, and stick with it.

The most important thing is that at the end of your renovation you are in love with the result, and it works for you and your family. Your home is such an important place for you to unwind, recharge, and enjoy, so get planning and you’ll adore the result for years to come.

Need extra help with your budget? Check out the ASIS Moneysmart Budget guide here.

 

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