6 Ways to Save Money During a Renovation
Home renovations are supposed to be exciting, even after throwing a dash of stress into the mix. However, without proper planning and careful thought, the cost of a renovation can get out of hand quickly. Throughout this article, you will find six ways to save money that don’t involve sacrificing quality or safety.
Stick to Your Budget
Setting a budget for your project has to be the first step you take, otherwise, you will lose control and may not finish the project on time – or you’ll plunge yourself into unnecessary debt. After you’ve set a reasonable pound figure, you can start costing the materials, fixtures, and labour. The best way to do this is to create a spreadsheet and list everything; you can get accurate quotes to facilitate this. Once you’ve worked out your final budget, ensure you don’t exceed it.
Stick to Cash
We suggest using hard cash to pay for goods and services to avoid high-interest fees on loans and avoidable credit/debit card fees. However, if you’re renovating with a view to selling your home, you may want to consider a loan because you’ll make up the repayment money once your sale has been finalised.
Buy In Bulk and During Sales
There’s no point rushing to buy everything material for your renovation, as you may not get the best price. Additionally, you should avoid buying from the first shop you see, as you will likely find it in a sale somewhere else. When it comes to purchasing materials in large amounts, like when fitting electrics, we recommend visiting online electrical wholesalers to receive a cheaper price per individual product.
When you’re planning your renovation, make sure you allocate sufficient time frames to each job. By spreading out your project, you’ll likely be able to squeeze in a larger budget. The best way to tackle a renovation is to start with the toughest parts of the project, as you’ll have more time to rectify any mishaps.
Get Your Hands Dirty
If you’re able to complete a job without hiring a professional, then choose the DIY option. After all, the most expensive part of many jobs is paying for the labour. You can even turn to YouTube and teach yourself how to complete tasks. However, when it comes to more serious jobs including plumbing and electrical work, leave it to the professionals.
Sell Old Fixtures
Instead of throwing all of your old materials and fixtures in the sink, try and sell them to boost your budget. You can put almost anything on Facebook Marketplace or eBay, and you’ll be surprised at what people will buy. Alternatively, you can take it to a local charity shop and give back to the community.
Saving money during a home renovation starts with setting a proper budget, and then sticking to it. To achieve this, you’ll need to pay in cash, shop around, dabble with DIY, take your time, and sell old fixtures to increase the budget.