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How not to blow your renovation budget

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Stay under Budget when renovating

Renovation costs always blow out no matter how much you try to keep them under control. It's usually because we want more than they we can afford. Our experts have heaps of experience in renovations and would like to share some golden rules with you. We feel these will help you keep your projects on or under budget.

  • DIY as much as you can. Do the painting and get a flat pack kitchen. However Tiling is also not that difficult and there are heaps of DIY books out there - just hire a professional to do the waterproofing if you are unsure of that part. Read our article DIY Renovation Tips for more information.
  • Go through the tendering process with 3 plumbers or builders - if they are too high for your liking wait 6 months and try the process again or keep getting quotes until someone comes in at the price you are happy with. I am always amazed at tender differences if you are prepared to be patient.
  • Never buy any PC items like bathtubs, taps or basins at regular price. Wait for a sale, or go to builders and other applicable auctions. Your local newspaper will have a building supplies section selling anything from pre-loved windows to new baths and granite pavers.
  • Confirm your plans and budget and stick to it. This may sound simple but it is where most people ruin their budget.
  • Ask yourself 'Is it a need or a want?'. Yes you need a tap but you don't need a tap that is $400 dollars. A lot of small savings add up to thousands of dollars very quickly.
  • Stage your construction into financially manageable amounts and be strong, renovations can be frustrating to live in but would you rather be frustrated or have the pressure of a bigger mortgage?
  • Keep a log book of invoices and receipts so you have a mental record of costs. Once you see how much things cost you are less likely to splurge on that new heated towel rail.

By following these simple rules you will save a great deal of money and will also be mentally satisfied with your renovation.