This Old House: Renovating On A Budget

My house pictured on the right 102 years ago!

Renovating on a Budget

When you live in an older property, all the jobs that you need to get done to bring it up to scratch can be pretty overwhelming. It can seem like the renovation go on forever and end up costing the earth. But that doesn’t have to be the case. In fact, you get can your renovations done without going over budget. Read on to find out how.

Budgeting

So the first skill that you need to have down, to get your home renovation completed on the budget, is actual budgeting skills. It’s no good not knowing how to track your spending, or having a completely unrealistic budget to start with.

Black Calculator Near Ballpoint Pen on White Printed Paper

That means you need to spend some time looking into a way of planning and costing each of the jobs that need doing. As well as what you can afford to get done before you even consider starting the job.

Get Contractor Quotes

The next skill you need to have is being able to compare contractor quotes for the jobs that need to be done. Always gets a minimum of three quotes as they can sometimes be widely different. This is because they can depend on the experience of the worker, timescales you are looking for, and even just the start of the market at the time.

Also, make sure that when you get a quote, you get them to write on it how long it’s valid for. There is no good holding on to a quote you were given for two weeks in winter when it’s a quiet for them, and then expect them to honor it in the spring. Getting this wrong can push your whole budget off!

And, learn from our mistakes! Get recommendations for contractors, check their references and make sure you know who you are giving your money to! We lost $9,000 to a crooked CONtractor. You can read that story here. Renovating on a budget doesn’t always mean going with the cheapest quote, trust me!

DIY

Of course, another way of saving money on your home renovation is to pick some jobs to do yourself. Now, this has to be done sensibly and carefully. They are going to be some jobs that you just can’t do yourself. Either because you don’t have the advanced skills, tools, or time. Such as laying underlay and carpet.

However other jobs like replacing a window, or knocking down a wall may be done safely by you. Just make you sure you have researched the best method before you start.
 Brush painting the white wall

Furnishing the space

Now, it’s not just structural work that costs money when you are renovating. It’s also furnishing and decorating the space when that part is done.

In particular, furniture can end up being a lot of your budget, which can be problematic if you have used it up on the work that has come before.

Despite this, I would advise that you still favor quality over quantity. So check out the furniture deals online and in local stores, to get the most bang for your buck.

Decorating the space

Lastly, you will also want to ensure that the decoration of the space is up to standard. Luckily this is something that a lot of folks decide to do themselves to save some money. So you’ll only need to pay for the materials, and not the labor.

You can also have a go at crafting some of your own ornaments or pictures to save money at this stage as well.

 

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