How to Effectively Plan a Home Renovation Without Going Broke

“A beautiful home does not have to cost an arm and a leg”, my dad always told me. Many of us have spent a large proportion of our time these days at home because of the global health situation. We all get tired of our space at home and understandably want a change of environment. A home renovation is one of the best ways to do so, but it comes at a cost! Before you think that you would have to empty your savings account to get a refresh of your house, or even to build your dream home, don’t let your mind stray too far because, it is not always true.

Stick to these guidelines and we are certain that you will not go over your budget and possibly even spend less then you envisioned a home renovation will cost you.

  1. Look around your home and see what you can reuse

The first step to saving money is to look around your home before you get ready to tear the entire house up, and see what features of your home you could restore. If you already have beautiful marbled floors, you should think about resurfacing them instead of replacing the whole marble slab. You might have floors that are concrete, that you can refinish to gloss or matt it so that it changes the look of your home without replacing the entire floor. Look around for furniture that is still in decent condition and think of refurbishing it instead of throwing it away.

  1. Get the help of a professional and communicate clearly
Photo by Tina Dawson

If you are going to fly a plane, you would definitely pay for a pilot if you do not know how to fly that plane, why should you not hire a professional if you are going to redesign a space that you will be spending a good 10 to 20 years of your life in for most people, and some even the rest of their lives. Many times, the reason why the cost of the professional is not in sync and expectations are missed or over budgeted is because the client and ID firm do not communicate clearly. Always, always make sure that communication and expectations are firm and agreeable before moving forward with a professional ID firm.

  1. Do your home work

Get on websites like vehs.com and read through the articles before you decide to proceed with renovating your home. You should always understand the pros and cons, cost and time involved in your project before you start as once you start it is many times impossible to back out of the project half way through. Go through resources, read and get inspiration as to what you would like your home to look like after the renovation is completed. Start with the end in mind!

  1. Always have a buffer of 20% on costs and time

If you have a budget of $30,000, make sure that you have a buffer of at least 20% on your costs, $6,000 for any unexpected thing that might happen. The contractor working on your house could discover a hidden pipe which would require them to work around and take more time to complete it. You will never know

  1. Prioritize what is most important to you

As you are researching, always prioritize which rooms would be your main rooms that you want to work on most and start there. You will likely have to spend a little more on those rooms to achieve your goals, and the rooms that you do not care about so much would have a lower priority on your budget. Also make sure that you spend on things that are easy to take care of and are durable so that you do not have to maintain and worry about it once the renovations are completed.

  1. Reduce cosmetic details

Again, prioritize where you want the details to be and be conscious as you can’t have everything within a tight budget, if not it would not be called a budget. If you would like a wood panelling across your ceiling, do it in certain rooms, not all rooms so that you can reduce and control your costs.

Renovating a house does not have to be expensive as long as you are conscious and do your homework beforehand. If possible, always consult a professional and communicate your goals clearly, especially your envisionment of the results of the renovation and budgets you are willing to allocate to it.

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