Six Clever Ways To Save Money When Doing Big Home Renovation Projects

By Staff Reporter - 5 March 2019

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Renovating your home is something to look forward to - until you realise that prices have gone up tremendously since the last time you've checked. Your dream home comes at a price. Luckily, there are several things you can do to reduce the costs.

If you are ready to put your renovation plans in motion, sit tight since we have compiled the best tips that will help you save money without compromising on the final result.

Evaluate Your Plan and Your Budget

Depending on what you are trying to achieve with the renovations, you need to split your set budget and decide what part of the process you need to put the most money in. 

Are you extending your house or are you just restructuring on the inside? Building an extension will be much more expensive than doing internal work on the space that is already available. In fact, the internal renovation will cost you half the price of building an extension. Before you dive in, determine whether the extension is needed or if there is a way around it, leaving you with a decent lump of money that you can spend on the internal structure of the building,  electrical installation or water pipes.

Also, make sure not to blindly go after short-term gains. If something cost an additional £0.1 to £0.2 per square foot but its quality is higher by far, it is better to pay the additional money and consider it as a long-term investment. 

Compare Quotes

Don't go for the first builder you stumble upon - do your research and ask for quotes. In the process of obtaining quotes, you will probably see big discrepancies.

Such differences in the quotes are not always due to the quality of the work. You need to read the quotes carefully and see what they include. The quote that is cheaper might have some hidden charges that will come on top of the quote. Cross-reference the prices and the type of work included. If in doubt, feel free to ask questions.

High-priced quotes may sometimes be the result of a builder who doesn't really need the work since they are too busy. They are, instead, putting the prices up with the notion to find the most lucrative job to fit in their tight schedule - be very aware of such things.

Be Your Own Project Manager

We get it - you might not have any experience on a building site. Project managers can really make your life easier since they are professionals at what they are doing, but if you are looking to cut costs down by 10-20%, then roll your sleeves up and take the responsibility of overseeing the project.

This means that you will need to make sure that all contractors are hired at the right time, as well as provide them with all of the needed information and materials they need to carry the work out. Bear in mind that this is an around the clock responsibility - workers will have questions and they might not arise only when you are at the site.

Do Your Research Online

It is not uncommon for prices on the same item to be completely different depending on where you are looking. The case is more often than not for an item that is discounted in one store to still be more expensive than the regular price at another store.

So if you are looking to save money on kitchen appliances, tiles, flooring or pretty much everything else, doing a lot of digging online in your best bet.

Checking if you can additionally knock the prices down by using discount sites such as the Plusvouchercode site can be your saving grace. Why pay the extra money when you can use the discounts and invest the money in something else?

Work With What You Have

Let's say you are looking to completely renovate your kitchen and replace all elements. Now think about it - is it really necessary?

Fitting a new kitchen, first of all, is a laborious process and obviously, it will put the labour hours you need to lay for up. How about instead of replacing the entire kitchen, you replace the carcases? Your kitchen will be completely transformed yet you will be cutting the costs for even more than 50%!

Look around for doors only if the base of your kitchen is in a good condition. The prices per replacement door usually go between £20-£50 and they are widely available (bear the previous tip in mind!).

Involve in DIY

Of course, doing the entire renovation process on your own is close to impossible, unless you are a skilled professional in the area (or a wizard!). However, there are things you can do yourself if you can invest the time to do it instead of investing the money.

Doing the paint job yourself is the evident thing you can do to cut the costs down. Instead of paying a contractor to do it, you can simply buy the paint, brushes and rollers, saving money by not paying a contractor to do it for you. 

Let's establish a new golden rule here - while it is impossible to do everything yourself, do as much as you can. You can trade your free time for money by not paying the high price. You can save by being proactive and doing your research. 

 

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