Major upgrades and renovation projects can get quite expensive these days. There are so many great products and interesting ideas out there. But if you don’t plan well, the renovation cost can get out of control. The good news is, with some discipline, you should be able to make your renovation projects more cost-effective. To get you started, here are some ways on how to save on renovation projects.
1: Don’t Rush
One of the biggest mistakes that a lot of homeowners make when it comes to renovating their property is rushing to get started without any concrete plans. A lot of times, people are just too eager to get started with their home renovations. If you do not have plans, this can result in a major mistake that could cost you a lot of money to correct. Undergoing a renovation project can be exciting, but do not be too excited or the adrenalin could kill your budget. Remember that in every renovation project, planning is everything.
Create a spreadsheet and write down everything, along with the costs associated, then add up everything. Step back and think about how you can keep the project simple and cost-effective. Get quotation for labour, materials, and include the tax on your budget sheet. Highlight the areas that could eat up your budget the most. Try to make adjustments by choosing cheaper materials or removing unnecessary items. Make sure you include in your budget the “unplanned costs”. Experts often advise reserving 10% of your budget in case emergencies happen, although this will all depend on you.
2: Buy Display Products
One of the biggest expenses in home renovation is the cost of replacing old furniture items and appliances. Thankfully, there are many ways in which you can save money when it comes to this. First, check with the store if they have display units that they want to get rid of and see if you can buy them at a discounted price. Some of these items may have minor scratches and dents in them, but still, they look decent.
Another thing that you can do is to look for retailers that are going out of business. These stores must clear out inventory and equipment in their facility before finally closing for good. Try to wait until the final weeks of their operation. During this time, the savings can be very huge, although the options might be limited.
3: Plan When You Will Need a Skip
One of the most important things you need to be using during your home renovation is the skip. This is the container that will hold the waste and debris coming from the demolition works. Once the container is full, it will be loaded into the lorry for disposal. Depending on how big your renovation project is, you may or may not need to hire a small skip. But if you need one, you must plan well how to use it to save money on the rental cost. There is a cost difference in hiring a skip in London for a week or if you were to day hire a skip in Nottingham, so make sure you think about where the skip company is based. Wherever you are located, skip rentals charge daily, so make sure you make the most of them during those days that you have them.
There are other ways you can save money on skip rental. First, assess the project and see if you really need a skip. In most cases, hiring a skip is not the only solution. There may be other greener and potentially cheaper alternatives to disposing of your renovation waste.
Another way to save money is to share a skip with your neighbours who also plan on doing a renovation. Renting a large skip and splitting the rental cost will surely save both of you a lot of money. More importantly, make sure you look for reputable skip hire companies. Ask for quotations from several companies and do a comparison. But be wary of companies offering very cheap rental rates compared to others. The last thing you need is to have a skip full of waste to be left on your driveway for many days!
4: DIY Aesthetics
Depending on the type of renovation project that you’re having, some tasks may be complex, while others can be prepped before the team of renovation crew arrives. Since you will most likely be paying them per hour, you can save money if you will do some of the tasks yourself. With moderate DIY skills, you should be able to accomplish simple tasks like cleaning up, painting, prepping the surfaces, etc. This will lower the amount of time that the crew will have to spend working, which saves you money on labour costs.
You can refer to YouTube and learn some new skills that you can apply to the renovation project. Try to do as much painting and up-cycling as you can and use the money that you can save for the structural side of the project. Just make sure you avoid performing tasks that require a license to execute, even if you believe you can accomplish them. This could make you spend more money at a later time, not to mention the legal implications that come with it. More importantly, make sure you get the necessary permits for those tasks you can do.
5: Utilise Experts
You might be saving some money by not hiring the experts, but you could save yourself from a lot of headaches and unnecessary expenses if you use the services of these professionals. Hiring professionals like an experienced architect or the recruitment of a quantity surveyor can save you both money and time since they can spot potential issues right before the project starts. They can also point out how to make the project more cost-effective and sustainable.
Although this will vary per region but try to schedule your renovation projects during the off-season to get cheaper rates when hiring the experts. Usually, it is before summer and after holidays that these professionals don’t get too many big projects, so they might be willing to provide their services at a cheaper rate. Another way you can save money is to enlist the help of friends who are experts in this field. They could give you huge discounts, or even offer their services for free.