Top tips for budgeting for renovations

Although renovations are generally smaller undertakings than a full new home build, they still need careful planning to ensure everything is done properly and that you don’t blow your budget. Budgeting for renovations can be tricky so here are a few tips to help you plan.

When budgeting for renovations consider your final outcome

When you are planning renovations you need to be clear on why you are doing them and what the final outcome is. If you are renovating to add value to your property then you need to ensure the cost does not outweigh any added value when it comes to resale.

If you are planning for the property to be a forever home, you might choose to spend more to ensure you get the result you really want.

You should also consider how quickly the renovations need to be done. Can you afford timewise to do the work in stages to spread the cost?

Think about how far your renovations need to go

If you are working to a budget then consider how far your renovations need to go. If you are renovating your kitchen, for example, do you really need to rip everything out and start again? Or could you keep the structure and refresh the look with new cupboard doors and appliances?

Again with kitchen renovations and bathroom renovations you can save money by not changing the layout too much and therefore not having to move pipes or electrical fittings.

Make a list of must haves and nice to have

When you are planning your renovations making a list can help to make your ideas clearer. Make a list of essentials and “nice to have” items and then budget for the essentials first.

Then you can add in anything else you want with your spare budget.

You should also consider different materials as some may be cheaper but have the same look.

Talk to a professional builder about budgeting for renovations

By getting a professional builder to look over your renovation plans you may find that you can do more than you thought with your budget.

A professional builder will be able to make suggestions on what will get you the best return on your investment. This will include any vital structural work that needs doing. They’ll also suggest places where you may be able to save money without compromising on your finished result.

Your builder may also be able to access materials at better prices than you could by going it alone. This might give you more choice than you originally thought.

Build Right have been carrying out high-quality renovations in Auckland for many years. From stunning bathroom renovations to complete changes to floor plans and indoor/outdoor flow, our team can help you make the most of your renovation budget.

Contact us today to discuss your plans.

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