Updating the appeal of your home is triggered by many reasons including selling your home, personal enjoyment or the addition of a new family member. When considering how best to renovate your home, or even a specific room, you should always start at the same point… How much can I spend?
Our Top 5 Tips for Saving Money
Irrelevant of what you have to spend, it is always best to follow the tried and tested principles every property profession on TV preaches. There is a reason why the same things come up time and time again. Here’s our top five:
1. Set a Budget
Start by setting a realistic budget that you can afford. Whether it’s a shoe strong or an extravagant present to your family, make sure it is realistic for what you want. If you are taking out finance to cover it, make sure you can pay it back without difficulty. If you are using savings, ask yourself whether you are getting the payback on your investment. If you are renovating your entire house on a budget, then start at 5% of your purchase price and see how that stacks up – it’s a reliable place to start.
2. Do your Research
Take the time to do your research and don’t impulse buy. Part of the enjoyment of renovating or refreshing the design of your home is the planning and researching. Coming up with new ideas and playing around with different options can inspire you and can be huge amounts of fun.
3. Consult a Professional
Check your ideas out with professional tradesman. Not only does this help you understand whether you can afford it, but it also gives you a good idea around timescales for the renovation, alternative materials to consider as well as specialist insight into other considerations you might have no idea about (for example plumbing and gas work).
4. Do it Yourself
Work out what you can do yourself and what you need to pay others to do for you. The more you can do yourself without impacting on external suppliers, the more you will save and can spend on things like quality electrical appliances and materials.
5. Consider the Small Things
Think about the smaller things that can make a big impact. Big statement pieces and unique features can be as attractive as they can be off-putting, especially if you are looking to sell your home. A freshly painted fence, tidy lawn and neat driveway can be just as impactful as a grand water-feature in the middle of your garden. It is often the smallest things that can make your room or property stand out from the rest. If you are looking to increase the rent or sales value, as well as gain the most benefit for your renovation budget, consider items that leave an impression (which you can also take with you, if you ever leave), like air conditioners, flat screen TVs, dishwashers or microwave ovens.
Our Top Tips for the Kitchen
Renovating your kitchen can be one of the most expensive tasks you could try and tackle. There are many options you can consider; From a whole new fitted kitchen installed by a professional, to simply updating the cupboard doors with a quality laminate paint and some new door handles. Many people consider their kitchen the heart of the home, so if you don’t have an excessive budget consider the following:
Old splash backs and tiles can be made to look brand new by painting with Tub and Tile paint. Keep the colour bold and simple to make it a feature or plain white to avoid detracting other key features (such as integrated stainless steel appliances, e.g. your fridge).
Follow the Rule of Three
The rule of three is one that many designers follow – if you follow the same rule your kitchen will look higher quality, and be more cost effective. Focus on bringing the materials and colours together alongside your utensils and appliances.
Use a Single Retailer
Buy your electrical appliances from a single retailer. You can often find offers on a specific suite of products, as well as being able to buy the same product line – which gives a more integrated, top quality feel.
Work with the space you have, to make the biggest impact. For example, light work surfaces make a small kitchen feel brighter and bigger. Another example is mirrored splash backs – they provide both a cleanable surface and a way to bounce additional light around a room.
And some food for thought…
Even though there is no magic wand to renovating your home on a budget, there are many principles that can help. Remember once you have set your budget, stick to it and track it from start to finish. Many people go wrong here because they don’t log their receipts, forget to keep track of spend or fail to forecast properly the outstanding purchases.
There is also serious truth in the phrase ‘you get what you pay for’ when it comes to renovation. Think carefully about where to cut corners and where to spend more and, if applicable, check your services and purchases come with a reliable warranty – Sometimes the cheapest purchase is not the cheapest investment.