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How to renovate your home on a budget

Posted 24.10.2022
How to renovate your home on a budget

When planning out a home renovation, the major bottleneck is often the steep financial obligation.

From small jobs like painting the walls or re-caulking the tub, to bigger projects like a full kitchen remodel or a new room addition, homeowners can’t immediately tell the finances they’ll spend for the project. This can mean highly-variable swings in home renovation costs that can reach up to the thousands in the final bill.

On top of that, there’s also the added risk of being unable to put the project into motion. Creative restraints are far more common than people realize, and it can be a tall order harmoniously upgrading your home the way you want it.

With all of these factors at play, it’s no wonder that many renovation projects fall by the wayside and get delayed into oblivion. If you’re stuck, we’re here to help. 

Let’s explore some tips on how you can renovate your home while keeping your finances in check.

1) Visualise the outcome

The first thing you should do before starting any home renovation is to clearly map out the end result. This means having an accurate mental image of your desired space or using design software to structure a 3D model of your ideal home.

This is crucial because it prevents you from getting sidetracked by pricey embellishments and keeps you focused on what’s truly necessary. If you’re unsure where to start, take some time to research the internet for home decor inspiration ideas. You may also want to look into home improvement magazines for helpful tips and tricks.

With a slew of beautiful home pictures on the internet, it gets tempting to buy flashy new decor. By visualising the outcome, you can avoid making impulsive decisions and remain practical in getting only the right items for your project.

2) Get multiple quotes

One of the best ways to save money on your home renovation is to get multiple quotes from different lenders and contractors. It can be a time-consuming process, but it’s a surefire way to get your money’s worth for the project.

When requesting quotes, make sure to be as detailed as possible about your project. This will help the contractor more accurately estimate the work that needs to be done, preventing any unexpected costs from cropping up.

That said, contractors aren’t the only people you should request quotes from. If you’re buying plenty of construction materials, take the time to go around town and ask for the best price in hardware stores. You may encounter surprise deals and discounts this way, saving you a few hundred dollars in cash in the process.

3) Reduce, not buy

Many people consider home improvement projects simply because they feel that they’ve outgrown and have gotten tired of the look of their home.

While undertaking such a project is a great way to give your home a much-needed facelift, it’s not the only way to achieve this goal. In fact, you can actually upgrade your home while cashing in a neat net profit.

One way to do this is to set up a garage sale with old pieces of furniture or decor that you don’t see yourself using anymore. By removing clutter in your home, you can give your space a new look and perhaps experience the same satisfaction of undergoing a renovation project.

And if you don’t sell everything, you can always donate excess items to charity or give them away to a friend. Binning them may also be a viable last resort.

4) Build your furniture

If you’re planning on renovating your home on a tight budget, one of the best ways to save money is by building your own furniture.

This is especially true if you’re considering buying expensive new pieces to replace old ones. With a bit of time and elbow grease, you can easily build high-quality and durable furniture pieces that look just as pristine and classy as store-bought ones.

Examples of furniture items that can be made through DIY include coffee tables, bed frames, bookshelves, and chairs. You can find all the materials you’d need to build your own furniture, including cladding, insulation, and roofing supplies, in Archipro and other local furniture suppliers.

5) Consult an architect

While hiring an architect might seem like an unnecessary expense at first, their professional services can be an invaluable gold mine.

The reason is simple: architects have undergone specialised training to find creative, inexpensive, and practical solutions to common home renovation problems. They also have intimate knowledge of the various building materials you may use for your project, giving them the ability to recommend cost-effective substitutes that still maintain good quality.

Perhaps most importantly, architects can also advise you to avoid making costly design mistakes that you might later regret. All in all, their years of experience and expertise make them more than worth the price tag.

6) Reuse furnishing (or buy secondhand)

You don’t have to dismantle an entire room design during a renovation project. There are probably some furniture pieces that already work and may be fitted into the new scheme.

By reusing these furniture pieces, you won’t have to spend any money to cover essential home furnishing items like sofas, beds, and so on.

If you truly lack the necessary furniture for your project, or if your old one is unsalvageable, consider buying them secondhand instead of opting for new pieces. Not only will this save you money, but it’ll also save you the headache of having to move bulky furniture pieces around.