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How to Prevent a Renovation Budget Blowout – don’t make these costly mistakes!

A budget blowout is one sure way to turn your renovation dreams into a nightmare and not to mention one of the most stressful situations to find yourself in. The good news is we are here to make sure a budget blowout won’t happen to you.

With the right planning, choosing to work with the right team and making all the right decisions you can keep that budget in check and not let any surprises derail your renovation. To find out the 5 biggest renovation budget blow-outs and how to avoid them keep reading below.

Not planning before demolition  

Demolition is expensive therefore it is extremely important to properly plan before you go crazy with the sledgehammer.

The first part of planning involves identifying what areas of your home needs to be demolished. Depending on what your reason is for renovating an interior designer can advise you on what parts of your property should stay to add real value to the space or what may need to be demolished to allow for a new layout that will work for your individual family’s needs.

The second part of planning is properly researching the property your renovating. Make sure you know what is behind the wall and underneath the floor you intend to renovate as that can lead to additional costs. For example, before a wall is removed, you must ensure that it is not load bearing, otherwise you will need to make an allowance for restructuring the wall. And don’t make the mistake of thinking you can do it yourself. If you decide against engaging the professionals and your demolition is not done correctly it will not only cause extra damage to your property but will blow your budget and project timeline too.

Overlooking a crucial step in the process

Don’t overlook the importance of getting a thorough building inspection done. An inspection could uncover everything from asbestos to different ceiling heights. Any issues uncovered in the inspection will be far less expensive to deal with early in the process opposed to half-way through building works.

When you engage with a full turn-key renovation company they will carry out a building inspection of your home early in the renovation process before any work is done so you know sooner rather than later what you’re dealing with and will allow you to factor in any additional costs from the building inspection into your budget.

Forgetting about the little costs

The first mistake you can make here is going with the cheapest quote. You could end up with a builder that may add in extra charges which they say weren’t included which you probably wouldn’t have factored in and this can really add up. These include things such as site clean-up costs, tip fees, and home owners insurance. If you engage with a full turn-key renovation company, they will factor all these costs into your initial quote so although they may come up more expensive you wont have any unexpected surprises along the way.

The second mistake is choosing more expensive, higher-end fittings, finishes or appliances which will add up very quickly. If you work with an interior designer, they can advise on where to spend and where to save in order to meet your budget.

Changing your mind in the middle of the project

One of the worst things for your budget is changing your mind – whether that be changing your mind about a wall you just knocked down or on another spectrum wanting to change your renovator. To avoid changing your mind make sure your plan is solid before you remove any walls or change the floor plan and most importantly make sure you are working with a company you trust and one you have done thorough research on beforehand.

Failing to add a safety net in your budget

Don’t forget to plan for the unexpected. Even after a thorough building inspection and a solid plan in place you can still be faced with surprises. Therefore, having a safety net in your budget is extremely important regardless if this is your first renovation or your one hundredth. Including a 10 percent buffer to your budget will have you prepared for any surprises.

At smarterBATHROOMS+ we can not only help you avoid a renovation budget blow-out but the renovation of your dreams. Call us today on 1300 662 838 to speak to one of our award-winning our experts.

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