How to carry out a cost-effective home renovation project

In the UK, 'Home renovation' currently gets searched on Google 2900 times per month. That shows just how popular the idea of renovating a property is. Whether you're purchasing a property to do up, or turning your current property into your dream home, home renovation can be a costly exercise, but it doesn't need to be. Here are our top tips for keeping costs from spiralling.

Decide on your priorities

Often ‘define your budget’ is first on lists like these, but in order to be able to create a realistic budget that’s as easy as possible to stick to, you need to know what your priorities are. It’s helpful to know what you want to spend more money on because it needs to fit the image you have in your mind and the areas in which you might be able to make compromises.

Is it your dream to have a state-of-the-art bathroom with underfloor heating? Then list it as a top priority and you’ll know to assign your budget accordingly. Are you less fussed about having a brand new kitchen? Then put that lower down the list, and you’ll know that if you need to find a bit of extra money from somewhere for one of your higher priorities, you could look at ex-display kitchens or even a good condition second hand one.

Have a contingency fund

Once you’ve set your budget, allocate 5%-10% (depending on the scale of your renovations) as a contingency. This will cover any unexpected extra costs. You might be lucky and not need to dip into this, but in what can already be quite a stressful process of renovating, you might be thankful for having a cushion to cover any unexpected extra costs. If you plan for the worst, it won’t be such a blow to your budget should any issues arise.

Become a DIY expert

Roll your sleeves up and get stuck in! We live in a world where you can search for most things on YouTube and come up with an excellent tutorial video. Things like plumbing and electrics need to be left to the experts, but laying laminate flooring, tiling, or plastering walls is something that you can learn and have a go at yourself. As well as saving money on labour, you’ll also feel incredibly accomplished at doing something yourself.

It’s also worth mentioning that if you’re looking for quick tips on getting a professional finish when decorating, it’s worth having a look on TikTok where videos are between one and three minutes long, and there are absolutely loads of helpful tips.

Have a think about materials

Are you able to source anything second-hand?

Do you have any bricks you can re-use after some demolition?

Are there any finishes you can replicate with cheaper or fewer materials?

A good example of this is affixing wooden batons to the wall and painting it in a way that makes it look like continuous wood panelling. Being conscious about the materials you’re using on your renovation, can not only save you money but help the environment, too.

Get quotes for works

Rather than engaging one company to do all of the works you require, by getting separate quotes for each job you’ll have much more control over costs, and will also be able to select those with cheaper quotes.