How To Save Money On A Renovation
Although the final cost of any renovation can vary by thousands of dollars, what are some helpful ways to save on funds without taking too many shortcuts?
In the last twelve months alone, a staggering one in three Australians undertook a home renovation. With kitchens and bathrooms having long been considered as the ‘must-dos’ when it comes to any residential upgrades, it’s also no surprise that our nation’s average renovation spend amounted to $26,000 per project.
While that figure is of course significantly less than buying a new abode or building a new property from scratch, it’s also worth noting that most renovators tend to spend far more than what they had originally planned to when compared to their original budget.
Although facing a renovation budget blowout can be an incredibly stressful experience, aiming to spend less from the get go is one way to ensure you have an emergency kit in the event that the situation calls for it.
Eight Ways To Spend Less On Your Renovation
The golden rule with most home renovation projects is to avoid overcapitalisation. If you have spent $200,000 on renos, but only made a $100,000 profit in the event of a potential sale, then your home renovation will have effectively cost you money instead of making it. Instead, experts indicate that you should allow 10% of your property value for your renovation budgets.
For those who want to spend as little as possible, or to make cuts from an existing renovation budget, the good news is that there are plenty of industry approved hacks to ensure that the process remains cost effective, and ultimately less stressful.
Use Your Existing Layout – While it can be tempting to go big and get creative with the nearest sledgehammer, removing existing walls and playing with the structure of a property is an easy way to spend large amounts of money on a renovation. Instead, think outside of the box by adding light to make the dwelling feel larger than it actually is.
Avoid Pipework If Possible – In some cases, you might need a plumbing renovation, or it might be practical to replace plumbing and redo the pipes altogether. As a general rule though, avoid any remodelling that requires moving existing pipework in a house, particularly for key areas such as the kitchen and the bathroom as this can get very expensive.
Don’t Avoid Building Permits – Obtaining local council and building permits are a neccessary evil to ensure that your renovation meets structural and fire safety requirements, and code inspectors in most jurisdictions can make you rip out non-conforming work if it’s not up to scratch. Save yourself the headache and don’t skimp on this essential paperwork.
Practice Your DIY Skills – If you’re able to get confident with doing renovations yourself, this will have the potential to save you thousands of dollars in labour costs. While it’s still important to be realistic with renovation projects that you can and can’t complete yourself, learn some of the basics on YouTube, SkillShare and even community groups like mens sheds.
Start Bargain Hunting – Along with repurposing what you already have, keep costs down by mixing new or high-end goods with cheaper or second-hand finds. You can often save on furniture, appliances and whitegoods, particularly on platforms such as Gumtree, Facebook Marketplace and even online auction houses.
Don’t Tile Floor To Ceiling – With the exception of the shower, an easy way to save on materials and labour in bathrooms is by tiling only 1.2 metres over the bath, using a skirting tile on the other walls and applying white paint to the rest of the walls. This will cut your tiling bill in half and give the bathroom a softer feel with fewer hard surfaces while still making the room pop.
Source Fixed Rate Trades – Unless you’re fully qualified in such trades, always enlist the help of the professionals for all things electrical, structural and plumbing. While it’s wise to get at least three different quotes, try to partner with a tradesperson who is quoting for the job itself, and not how long it will take to get the project finished.
Consider Replicant Materials – Swapping to a more affordable material is an easy renovating win. While many renovators lust after top tier materials such as hardwood floors and marble benchtops, the reality is that there are many alternatives that resemble the real thing, with one such example being engineered timber flooring.
If you’re in the throes of giving your home a facelift or are perhaps debating doing so, there usually comes a point where you need to start shopping for flooring materials. Mistakes can be costly in this space, so it’s important to get things right from the start and do your research on what products are going to match up with your end goal.
Whether it’s advice on the perfect type of tile or what flooring solutions best fit your household’s lifestyle, the good news is that a visit to your local Tile Wizards outlet can provide all the answers and more.
Chat Flooring Materials With The Professionals
While your options for renovating on a budget are almost limitless, selecting the right type of flooring for your home renovation certainly isn’t an easy feat. With each space, comes a different preference or priority: are you chasing style, functionality, or simply want the most bang for your buck?
In operation for over 26 years, at Tile Wizards we pride ourselves on getting you more, for less. We pioneered the warehouse format, and our stores are purposefully designed to make your selection easier, and ultimately offer our customers quality, price and the right advice.
Even if you are just after some honest and friendly advice – please don’t hesitate to get in touch with us at Tile Wizards today for a free quote. We pride ourselves on being able to work with you in order to bring your dream flooring solution to life.
