Home renovation projects can be overwhelming. While the prospect of living in a clean and renovated home is very appealing, the process itself is not quite so easy. One major challenge with renovation projects is how to get the best value for your money.
Arguably, there is a lot of free reign for renovation projects as you can choose the most expensive fixtures for the house, but only if you have the money for it. Sadly, most of us operate on shoestring budgets and want the best renovation outcome on a limited budget.
So the big question is, how can you optimise your budget? Here are a few tips that you might find useful.
Identify The Renovation Priorities
You can potentially renovate your whole house, but is it really necessary? Unless you have an unlimited pile of cash, doing this will cause more harm than good. If you want to get the best out of your renovation budget, identify the most critical areas that need renovating.
The main reason people want to renovate is to either upgrade fixtures and fittings or to give the place a fresh look. Identify these priorities and note them down as this will influence the entire project. For instance, extending a kitchen island can be on top of your renovating list instead of updating appliances when the existing ones aren’t operating the best.
Get Into The Details
Once you have worked out the general renovation priorities, it’s time to get into the details. The broad goals might be like “transform the kitchen” or “improve the bathroom.” However, transforming the kitchen does not mean that you have to change everything there, and this is where the details need to be broken down.
The details will help you determine the exact amount of money you will spend to achieve all these renovation goals. Here, you will make critical decisions such as whether to go for hardwood floors or a carpet, or the specific sinks and bathtubs you are going for, among others.
Note that these detailed decisions have a cost implication so you need to attach the price to give you a sense of how much you will spend.
Once you have a detailed expense sheet, you will see whether the renovation project makes sense or not. From here, you might have to sacrifice some of the things you need depending on how low they are on your priority list to get the best out of your budget.
Work With A Renovation Expert
Do not make the mistake of being single-minded with your renovation project. Work with an experienced renovation expert to get another view of how to get the best out of your renovation project. These people have handled many renovation projects and have seen designs that can work in your home at a fair price. They will advise you on the options at hand for your budget and help you meet your goals in the process.
Note that the expert should not dominate the decision-making process during the renovation as ultimately, you will be the one staying in the house after the job is done. That’s why it is important for you to be happy with the ideas that are suggested before you commit to anything.
If you are planning to spend a long time in your house, then it makes sense to splurge on your dreams. However, if you will be looking to sell at some point, consider the renovation value. Do not spend money on things that reduce your chances of recouping the investment. The ROI is usually tied to the value of the home. For instance, it does not make sense to install a $50,000 kitchen on a $200,000 house as the potential buyers won’t be willing to adjust their offer just because you added a luxury kitchen.
It is paramount to be prudent about how you spend money on your renovation project. You need to get the best out of it and be willing to adjust and sacrifice a few things. It is not recommended to invest in one part of the house and leave another part of the house in less than ordinary condition. A good renovation covers the whole house to make the whole place a comfortable space for you.
If you are looking for an expert to help with your renovation project, then look no further than Bayside Extensions. Check out some of the projects and homes we have successfully remodelled and renovated.
Let us know your requirements. Share with us your vision and let us help you bring them to life. Schedule an appointment now for a free consultation. Let your home stand out and be the envy of Brighton.
If you are planning any extensions and renovations on your home in Brighton, please call us at Bayside Extensions today on 03 9596 0368 or leave an inquiry.