Fewer and fewer people are choosing to build their build dream from scratch, and why would they when there are so many pre-existing homes brimming with character just waiting to be brought up to modern living standards. Renovating your existing home is a fun process, but it can be tricky to budget for. There are many uncertainties and potentially costly renovations, from moving load bearing walls through to limitations that cannot be seen with the naked eye.
So, when planning future renovations, your first step should be to create a budget to ensure that you don’t fall short of money before your renovations are complete. If you’re concerned about sticking to yours, here are three ways we’ve found that help our clients save on their renovation costs without compromising on creating their dream home.
Don’t Splash Out Too Much On Fixtures And Finishes
When you’re setting up your budget for the renovations, make sure that you’re aware of how much to set aside for fixtures and finishes, and that you’ve done your research on the prices available. One of the most common areas where budgets blow out on home reno projects is choosing ‘must have’ fixtures and finishes. Remember, once you’ve picked a certain knob – you may have to buy dozens of them across your home.
If you’ve found a style that you like, you can often find a more budget conscious version. Though you might have to make a sacrifice on the actual material it is made from, you’ll be saving money without compromising on the attractiveness on your home.
When you add up the price of light fixtures and switches, taps, door handles or kitchen and bathroom fittings as well as finishes such as plastering, flooring and painting, it can get costly.
Again, there are more cost-effective alternatives available if you look for them. For example, why not opt for wood laminate flooring instead of genuine hardwood for the same look at half the price. Or, why not pick a consistent style of tapware so that you can purchase them in bulk for less?
There are many options to decrease your budget – you just need to do the research, or have the right team behind you to do it for you!
Stay Within Your Footprint
The footprint of your house is the layout of the building. Due to the fixtures and appliances in the bathrooms and kitchen, you know where those rooms are meant to be and are harder and more costly to relocate. You can easily rearrange your bedrooms, living room and entertainment areas however, as they are generally not built with fixtures.
Changing the footprint of your home is when the bills really start stacking up. If you want to convert a spare bedroom into a bathroom, you’ll need to account for plumbing, tiles, specialty paint or plaster and fittings as well.
Extending your home can be equally costly. When you extend your home, it’s the same as building from the ground up. You’ll need to pay for foundations, plumbing, electricals and the structure itself.
Don’t Move Structural Walls
Structural and load bearing walls are essential for the structural integrity of your home. When you and your designer are in the planning stages of the renovation, the designer should know which walls are load bearing, and which are not. Structural walls cannot be removed, as they carry the load of the roof and ceiling, and distribute the weight down into the foundations. During the renovation, if a structural wall is removed, the structural integrity of the roof and ceiling is compromised; and it could collapse. Building designers who have previous experience as a builder (such as our very own Director Bill) are your best bet to ensure that your design takes into account limitations such as the above.
You can certainly create the house you’ve always wanted and stay within your budget – you just need to know the little tips and tricks on how to reduce costs without sacrificing on the final product. If your designer is an honest and trustworthy professional – like our team here at Action Plans – you’ll start off on the right foot!
We can advise you on better renovation practices that won’t break the bank, and still leave you with a fully renovated home that you’ll love, so why not get in touch with us today!
Call 0426 957 518 or leave us your details here and we’ll get back to you