Owning a home isn’t cheap. As well as putting down a deposit and paying your mortgage, utilities, and other bills, you also need to think about maintaining and decorating your home. While you can keep it looking okay by regularly doing small jobs, sometimes you might need to take on a large renovation project that will have a more significant impact on your home and your life.
This is where things can get really expensive. If you need new appliances or you’re changing the layout of your home, the cost can add up very quickly. So, here are a few tips to help you save money when making these renovations.
Save and Budget
As with any big project, saving up and creating a budget are both great ways to control your spending.
First, come up with a budget that matches the expected cost of your renovation project and how much you can afford to spend. If you need to take out a home improvement loan, think about the repayments and how they will affect your finances in the future. The sooner you can pay it off, the better, so don’t be tempted by a massive loan that will shackle you to debt.
Whether you want to take out a loan or you’d rather use cash, saving is a good idea. If you’re paying by cash, you should try to have the money for your budget on hand, as well as a bit extra in case something goes wrong. But even if you take out a loan, more money on hand means that you can make a larger deposit for a better deal, or you might be able to go for a smaller loan and cover some of the costs upfront.
Know When to DIY
You can save a lot of money by doing some of the work yourself. Of course, some jobs should only be tackled by a contractor, especially if they’re dangerous or require specific skills or equipment. If you mess it up, you might end up having to pay even more for repairs.
But simple jobs, like painting or even building furniture and fitting doors, can often be handled by anyone. All you need is a free weekend.
Sourcing Affordable Goods
One of the best ways to keep within your budget is to find cheaper ways to source and buy the products your home needs. This doesn’t mean you have to only buy the cheapest options possible and completely sacrifice quality for affordable prices.
One way to get more affordable things is to look for secondhand sources. Secondhand doesn’t always mean that it’s battered and broken before you even get to use it. For example, Rehome specializes in finding homes for high quality appliances, fittings, and even whole bathroom or kitchen suites.
Most of these items were used in display cases for sales, which means that they haven’t been heavily used (if at all) and are in great condition, just at massively discounted prices.
