Renovations are a significant investment, and more often than not, many people end up spending way over their budgets. So how do you ensure you get a beautiful result without breaking the bank? We’ve put together some simple tips for you.
Before rushing into your renovation, we recommend doing your research so you can come up with an airtight plan.
“Decide why you’re renovating in the first place,” says Alexa Beer, our smarterBATHROOMS+ expert designer. “Write a list of needs, wants and priorities. Then hit the internet – a renovator’s best friend. Look for reviews of companies, trades and materials.”
From here, you can piece together what actions need to happen, and which trades need to be contracted, and you can create a timeline for the project. The more research and planning you arm yourself with, the better prepared you’ll be — especially when it comes to finalising your budget.
Sticking to a budget is a top priority for most renovators. It’s important to understand how much money you’re willing to spend on the project. Renovations are variable by nature, so if you don’t stay on top of your costs and fees, then they can quickly add up.
Always try to have a contingency plan — a sum of money that’s put aside for unforeseen costs that may arise during the design or construction stage of the project.
Beer says you can also engage in a star designer and building company to guide you on how to get the best bang for your buck. “They hold all the secrets on where to spend and where to restrict your finances,” she says. “They will also work with you to stay within your budget.”
Many people think working on parts of a renovation themselves is the best way to save cash. We hate to be the bearer of bad news, while this will save you some money, it may cost you in the long run.
Unless you know exactly what you’re doing, or have someone on your team who knows what they’re doing, you could end up causing more damage — and sometimes not even realise it until many years later.
“Too much can go wrong — build times can be extended, the stresses add up and you might not be able to complete your renovation in the time you had scheduled,” says Beer.
Aside from their experience with construction, materials, and sources, general contractors have something else to offer, and that’s accountability. These contractors will inevitably suffer if a job isn’t completed correctly, especially if the job is not up to code, so it is in their interest to finish the job on time and on budget, to the highest standard.
Wanting to live a champagne lifestyle but living on a beer budget? You don’t have to run to the nearest designer store to find something high-end — living a life of luxury doesn’t have to cost a fortune.
Less really is more. A cluttered space is uninviting and doesn’t exude luxury. Instead, try taking a minimalistic approach. “As long as the tapware is quality, then you don’t need to break the bank to get a luxe look,” Beer says. “Mid-range materials still come with a wow factor. When working with a budget, I would always advise my clients to select one ‘hero’ statement piece and hold restraint elsewhere.”
Going monochrome or adding a touch of velvet brings a soft and decadent aesthetic, entwining both modern and luxury in smaller spaces. Remember, always think quality over quantity.
Need help redesigning your bathroom or kitchen? Book in a free in-home consultation with smarterBATHROOMS+ now.