Renovations can be exciting yet challenging, especially when balancing your vision with your budget. Whether you’re planning a full remodel or just updating a few key areas, costs can spiral out of control quickly. Here are ten practical tips to help you save on your next renovation.
1. Create a realistic budget
Be honest about what you can afford and prioritize your needs over your wants. Source the cost of products and services in your area and factor in a 20% cushion for unexpected expenses. Consider both short-term costs and long-term savings when making your budget.
2. Stay within your footprint
Look to see how you can maximize your existing footprint without expanding outwards. This can improve your home’s function and save you thousands.
3. Make decisions early
Make all your important decisions at the planning stage. Select your fixtures, appliances and materials before work begins. Last-minute rebuilds to accommodate change orders can cause costly delays.
4. Smart storage
A full kitchen renovation is very expensive. Look to see if you can improve the function of your existing cabinets by retrofitting today’s smart cabinet storage solutions.
5. Don’t move plumbing
Keep plumbing fixtures in their original locations when planning your renovation. Moving a toilet, sink, or bathtub requires extensive plumbing work including moving venting, water lines and drain pipes.
6. Renovate or build new
Renovating should be considerably cheaper than starting from scratch. If you are doing extensive changes, do a cost analysis to see if it makes more financial sense to demo and build new. Take into consideration today’s improved energy efficiency and building codes.
7. Use stock sizes
Plan for standard sized materials to avoid the high cost of custom sizes. Keep this in mind for doors, windows and cabinets.
8. Buy look-alike finishes
High-end materials can inflate a renovation budget. There are often less expensive look-alike alternatives available. At the planning stage, decide what finishes you are willing to save on and which will be a splurge.
9. Schedule trades off-season
If you have parts of your renovation you’d like to leave to the pros, many trades are busiest between summer and Christmas and may offer discounts during their off-season.
10. Shop at recycling centres
Recycling centres, salvage yards and Habitat For Humanity can be goldmines for budget-conscious renovators. You can find everything from gently used cabinets and fixtures to contractor’s leftover building materials.
Renovating doesn’t have to be expensive—it’s all about making smart choices and getting the most out of your space. By planning carefully and focusing on what matters, you can create a space you’ll love, without breaking the bank.
