Best Tips On How To Renovate Your Home On A Budget

On June 20, 2017 by Bilal Sajjad

Watched a couple of seasons of The Block and now you’re ready to take on your own renovation? Before you get too excited and start knocking down walls, renovating on a budget may not be as easy as it looks.

We share our top tips on how to renovate smart so that you can avoid the headache of running out of money thanks to a budget blowout!

  1. Do Some Thorough Research

Do Some Thorough Research
If your planning on renovating for profit, before you choose a paint colour do some thorough research about the improvements you’re thinking of making. Study what improvements are likely to add value to the style of home, not just for your lifestyle. Have a look at what’s selling in the current market and what’s being currently built. If you live in Victoria for example, looking at the homes contemporary builders in Melbourne are building may give you a good feel of what the market is looking for.

  1. Lock In Your Design

Lock In Your Design
Regardless of how big or small your renovation is, locking in your design before you get started will save you in time and money. You don’t want to have done a whole lot of work only to decide you want to make an amendment. Make your decisions on layout and materials before you employee anyone to help or before you get your own tools out.

  1. Go By The Standard

Go By The Standard
If your budget is tight, choosing standardised building elements will help keep a lid on the costs. Choosing the standard size of doors, windows, kitchen cabinetry and bathroom vanities will allow you to select mass produced, off the shelf items. If your measurements fall outside of the standard parameters, you’ll be up for more expensive, custom-made options. Unsure of what the standard parameters are? Seek some advice from experienced new home builders in Melbourne, Sydney, Perth or where ever it is you happen to be located.

  1. Break Down Your Costs

Break Down Your Costs
If you want to stay within your budget, you have to watch it like a hawk. Break down the costs of everything that’s a part of your renovation. Speak to a professional value or a builder to help you estimates if you’re unclear of the costs. Make sure you leave room for unforeseen hiccups and expenses along the way. Once you’ve down your initial budget breakdown, keep on top of it daily. You don’t want to get to the point of returning half your shop like The Block contestants. If the renovation costs too much, you could try using that money to get a house and land package in Geelong instead! 

  1. Hire Professionals For The Important Stuff

Hire Professionals For The Important Stuff
Keen to get in there and do a bit of DIY? While that’s a great way to save on costs, it can backfire if you’ve botched a really important job. Hire professionals for plumping, electrical and any structural work. Once you’ve got the hard stuff out of the way, you can test out your skills on other renovating jobs such as painting, assembling flat-pack cabinetry, polishing floorboards or landscaping.

  1. Shop Smart

Shop Smart
Renovating on a budget greatly depends on your ability to shop smart. If you’re prepared to do your research and run around, you’ll always be able to find a better deal. There are some simple tricks of the trade you can keep in mind:

  • When you buy several products from the same place, you’re more likely to get a better deal;
  • Negotiate on a price if you’ve found the same products at a cheaper price elsewhere;
  • Ask to see showroom or discounted ‘scratch and dent’ products;
  • Check online for used building supplies and materials;
  • Hit the auctions such as Greys Online, Gumtree or eBay.

Also, don’t be afraid to negotiate or ask for a trade discount, especially if you’re spending a bit of money with the one supplier.

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