Renovating your home to make it a dream can quickly turn into a financial nightmare. Creating your dream home will take both time and money to construct, whether you’re renovating a brand new BTO, refurbishing an older home, or giving a resale flat a facelift. While it may sound daunting and frightening, renovating shouldn’t be scary, in fact, it should be a fun an exciting thing to look forward to, just imagine watching as the home of your imagination comes to life, and the day finally comes when you and your loved ones can take that first step into your brand-new home. So lets talk about how you can really stretch your dollar when renovating with a few simple tricks.
Set a Budget, and Stick to It
This may sound obvious, but it’s one of the easiest pitfalls if you aren’t careful. Budgeting for renovations is the most important step to follow. If you only have $20,000 to renovate with, make sure you stick to the $20,000 limit. Before you begin buying anything, do some research on how much furniture and services would cost, and estimate the amount you’re willing to spend from there.
Make sure all your limits are hard limits, because once you start loosening your belt on some aspects of your budget, the costs will quickly add up and you’ll be far exceeding your budget in to time. Be firm and control how you’re spending (or how you plan to spend) your money while still being realistic to the market costs.
While it can be very tempting to exceed the budget by a little bit for an upgrade, or another option that seems so much better, its best to leave these decisions to the last, just to make sure you have enough left over to upgrade your choices. Make sure you actively track your budget, so you know exactly how much you’ve spent and how much you’ve got left in the bank. Plan well enough, and you might just be able to come out with a little bit of excess.
We aren’t all contractors, and most of us would be busy with day jobs to do the entire renovation ourselves. But, if you’re renovating an older home, there’ll be some parts of the house you’d want to remove, or replace, and here’s where you can save some money yourself.
Simple jobs like removing cupboards or a carpet are easy enough with a few tools. Furniture removal and disposal can cost you upwards of $100, depending on the size and complexity, but if you have the time on your hands these projects can go a long way.
Just be sure not to touch the electrical, plumbing or structural supports in your home unless you are professionally qualified to do so.
If you’re thinking of renovating, the easiest way about it is definitely to find an interior designer to help you handle all the design work, contacting and coordinating the contractors and sourcing the furniture for you. But don’t forget, in addition to all those services, you’re also going to be paying the interior designer a service fee as well. So instead of handing your home over to another person to handle, why not try to do it yourself for a smaller cost?
Well this may seem daunting to you, but with the right research and contacts, you’ll be able to find and contact contractors of your own. Direct communication with the contractors can also help you make better decisions on your renovation plans since cutting out the interior designer means you have more wriggle room in financing.
Or if you want to go even more spartan, you can buy the items wholesale on your own. Don’t just look at the usual furniture shops like Ikea or Courts, but you could even consider online shopping, like Taobao, Lazada, or Ezbuy. These sites have a huge range of products which you can get at a steal, plus if you sign up for membership, you can get a flat rate shipping fee for all your purchases, so you can bring in that brand-new sofa for under $20 too!
Buy Ready-to-Install Carpentry
Custom built wardrobes and cupboards may look great on your wall, but it may not always be worth that price tag. If you wall isn’t too complex, it could do just fine with a ready-to-install cupboard bought right off the shelf. This will make installation even easier too since it won’t take days for contractors to measure and install all of it too.
Keep it as Simple as Possible
While our dream homes are rarely any old run-of-the-mill houses, sometimes you need to think a little out of the box so you can save some money, but still get the intended outcome. For example, if you really want an island in the kitchen, do you really need to re-do the whole kitchen? It could be easier to just put in a small cabinet with a proper counter top and keep the rest of the kitchen if there isn’t too much that needs to be changed. You don’t always have to do a complete overhaul to make your dream house, so make use of what you already have and work from there, it could save you loads in the long run if you realise all it needs is a bit of work, rather than a complete overhaul.