Money-saving renovation tips
Renovating an older property can be a costly endeavour, but there are ways to keep costs down. And renovations can be financially beneficial in the long run too. Buying a fixer-upper that you can then work on yourself can provide you with a healthy profit, while choosing to renovate your own property, when done wisely, can add value to your home. Here we take a look at some tips for carrying out renovation work on a budget.
The timing of your renovation work can be important. By planning your renovation project to coincide with annual clearance sales, you can save on a variety of home renovation items. Roofing and exterior siding tends to go on sale during the warm summer months for example, so if you are planning to do some roofing work, consider delaying it until summertime rolls around.
By doing as much of the renovation work as you can yourself, you’ll save a bundle on labour costs. See if you can persuade friends and family to help out too! Renting the required tools for short periods rather than having to buy tools outright can also help you to save.
When it comes to important work involving plumbing, electricity and gas supply, qualified professionals need to be called in, as working in these areas of home renovations can be dangerous. To keep costs down in this area, try to get as many quotes from as many reputable firms as possible so that you can choose the best and most cost-effective firm for the job.
Fitting out your bathroom and kitchen can be costly, but by shopping at clearance sales it’s more than possible to come in under budget. Consider splashing out on one expensive focal piece for your kitchen or bathroom which will add a touch of luxury. Then pick cheaper fittings that tie in with the design of your chosen focal piece.
You can save on expensive wood costs by saving as much of the original timber from your property as possible. Using original woodwork will help you to retain the period feel of your home, while using spare original timber from your home renovation for use in furniture, window and picture frames will help to tie your home together with a consistent look and feel.
If you’re on a strict budget, then you could consider carrying out renovations one section at a time as and when you can afford it. Just make sure that you ventilate any working fumes away from your living area, covering all vents leading to and from the work sections.
Whenever you carry out any kind of renovation work, remember to let your insurer know. Renovations can add value to your property, and should the worst happen, you don’t want to find out that you’re underinsured after all of your hard work.
If you’re worried that your renovation work may lead to an increase in your insurance costs, then consider making some home insurance savings to balance this out. One simple way to do this is to combine your buildings and contents policies, as many insurers now offer discounts on these combined policies – a quick search online found insurers like Kwik Fit Insurance who are currently offering a 15% discount to those who combine policies with them. Visit their website for a quote on house insurance.