Renovation Saving Tips

Renovation Saving Tips

Renovating can be an excellent option to add value to your property or create a more inviting living space. Whether you're hoping to extend or just give your place a face-lift, embarking on a renovation is an exciting time. The following tips and tricks have been designed to maximise your time and effort, and help you stick to your budget.

Decide Your Purpose
Knowing what you hope to get out of your renovations is fundamental. If you're hoping to add a new floor or expand your existing layout there are different considerations than if you were to just change your floors and cabinetry. Mark Ribarsky, senior buyer's advocate, suggests 'sit down and work out what you're trying to accomplish: are you hoping to make the place more comfortable with your existing layout, is the primary purpose to add more equity into your property, is your family growing and you need more space, or are you preparing the house for sale?" Depending on the reason you will have a better idea of where to start and how large a budget you will need to commit.

Multiply Your Options
The easiest way to capitalise on your improvements is to save money along the way. For each job obtain three quotes from relevant tradesmen to make sure you don't pay more than you have to. Remember though, that cheapest isn't always best so make sure you do some research into the credibility and workmanship of the company. Word of mouth and online reviews are a valuable tool in ensuring the company you choose will be the best for your project.

Put Some Workboots On
There's a reason that many reality shows on television focus on DIY. Many jobs within a renovation can be easily accomplished without a trade qualification or without breaking a sweat. Painting, fitting internal doors and laying floorboards are simple things that can usually be achieved without the need for many tools. There is a great range of options online to help you through the process or check with your local hardware store as many provide free, or cheap, DIP classes to help you learn a range of skills to apply to your renovations. It is important to check with your local building authority about building restrictions in your area. Many states require certain works to be conducted by registered tradespeople and you may even need to get a permit for the jobs you undertake.

Bargain Hunters
It may feel overwhelming choosing the right flooring, fittings or fixtures for you're your renovation, but that doesn't mean you have to spend a fortune. Once you have a good idea about what type of style you're going for, shop around. There are great deals to be found online or by taking a trip out to a wholesaler to get the products you want at a reduced cost compared with major retailers. The money you save by shopping around will help keep your budget down or even add to a much-deserved post-renovation holiday.