A home renovation is an expensive home improvement project, there’s no denying that. It requires a lot of planning, budget, and hard work, however, there are certain things you can do to keep costs down. Unfortunately, many homeowners get halfway through a project and realize that they have forgotten something or would like to change part of the renovation which leads to extra money being spent.
To avoid that, I have put together this article with 5 costly home renovation mistakes to avoid so you can have a seamless home renovation and keep the costs down.
Consider How Much Value It Will Add
The first thing to consider when completing a home or room renovation is how much value it is going to add to your home. If you are planning on selling your home in the next few years then this is a crucial aspect that will affect some of your decisions.
The main focus is to make sure that you don’t put in more money than you are going to get out of your renovation. A good way to ensure this doesn’t happen is to speak to some estate agents in the local area and ask for their advice. You could also ask them what people generally look for in a home within the local area. For example, if you were thinking of removing your bath and replacing it with a walk-in shower but there are a lot of families with young children that look to move into the area then this may not be the best decision if you were looking to sell your home further down the line.
You could also look online to see what the more expensive houses in your area have to offer to gauge what kind of price point your house is at now and what it could be after the renovation.
Buy Materials at Trade Prices
Although you may not be completing all the architectural aspects of your renovation such as replacing the doors and windows, there is no harm in buying the materials yourself to bring the costs down. In order for tradesmen to make a profit, they will often charge you more than what they paid for the materials they use on top of their labor costs.
Buying supply only UPVC windows online will allow you to get the materials you want at trade prices so you only have to pay for the labor costs, which will help you stick to your renovation budget.
Don’t go with the 1st contractor you find
For ease, many of us may be tempted to with the first contractor we see, but that could lead to you spending hundreds on a contractor, eating into your renovation budget. If you are looking into hiring a contractor then ensure you do your research first to get the best price possible. Call up a few in your local area and get quotes from each one.
It’s also worth trying to haggle with them as you may be able to get the price down.
Try to Pay in Cash
To avoid paying interest rates on your home renovation, try to pay in cash as much as you can. Although some people may opt for a credit card to make up for the money they don’t have upfront or to spread the payments over time, this may lead to you paying more for your renovation due to interest rates.
Therefore, it’s best practice to save up as much money as you can and use this to pay for your home renovation. If you need a credit card to pay off a few bits, make sure to only use it for smaller projects under £1000 so that it’s easier to pay off rather than trying to pay off a credit card with 6 figures.
Get Building Permits If You Need Them
Although most interior changes won’t require you to have planning permission, if you’re thinking of making structural changes then you’ll need to obtain a building permit. The best way to go about this is to start by researching whether or not you’ll actually need one. If you do, then you can apply for one online.
Doing this in the planning stage of the process is very important as it could take up to 5 weeks for the permit to come through so you don’t want to waste any time waiting for a permit as this will delay your renovation.
Are You Ready to Begin Your Home Renovation?
After reading this article, you should be ready to begin your home renovation and avoid any common mistakes along the way. The most crucial part of a home renovation is planning. Make sure that you have a clear plan laid out and you regularly look over it to ensure you are still happy with it and everything is up to date.