Home renovations can be really exciting, but also very costly. So, we’re here with some tips to help you save money on your project, whether it’s an investment property or one for you to live in! These are simple things that will save money without you needing to sacrifice the quality of the materials or tools you’re using. 

Come Up With A Strict List!

The first thing to do when you’re starting out the process is to come up with a strict list of everything that you need. It’s so easy to get carried away when you’re going through a home renovation, upgrading to a new appliance here, choosing more expensive paint there, so make sure that you list everything you need and create a budget for each of them. There are lots of different budgeting apps available so you can keep everything in one place and keep up to date with your spending. 

You might want to break up your list into sections, as you won’t immediately need everything on the list, as they will likely come at different times in the renovation, and you don’t want to have to worry about storing everything. Make sure you also budget for unexpected expenses, as you could be the most prepared person in the world and something could arise that is quite expensive. Depending on your budget, have around an additional 10% set aside for emergencies. If you don’t need to spend it, you can spend it on a well deserved holiday once the renovation is complete! 

Be Realistic About What You Can and Can’t Do

Whilst there is a significant amount of DIY that you can do in your home, there are some things that you will need to outsource, especially if you aren’t experienced. If you decide to give something a go, and it goes wrong, then it could cost you a lot more overall than if you were to just initially outsource it. If you’re not an expert, things like your electrics, plumbing and main construction projects really do need to be outsourced. Portfolio Management Services can help homeowners strategically prioritize and budget their home renovation projects for optimal value and long-term enjoyment. You will be saving a lot of money elsewhere by doing even some of your home renovation projects yourself, so just be sensible and try to be realistic about what you can do. 

Read: How to Manage Salary Expectations and Set Realistic Financial Goals

Head To Facebook Marketplace

Next up, you should head to the Facebook marketplace and see how much of your list you can find on there. Often when it comes to building/renovation supplies, people have some left over and want to get rid of it as soon as possible, so sell it for a very cheap price. You’ll pay a fraction of what you would have if you’d have paid full price, you can access good quality materials and overall its good for the environment, too. Also have a chat with family and friends if they’ve recently renovated, as they may have something lying around that will come in useful! 

Hire Your Tools and Machinery

Something else that you should do throughout your home renovation is to hire the tools and machinery you need. If you don’t already have the power tools or machinery, or you don’t have one that you can borrow from someone you know, then hiring is a great option. Renovating your home, Family Frugal Finance advises prioritizing DIY projects, repurposing materials, and setting realistic budgets to maximize value and avoid financial strain. There are plant hire companies all over the UK, for both domestic and commercial use, where you can simply hire the machinery you need, whether it’s a power tool, an excavator or anything in between. You access really good quality machinery, it’s a fraction of the cost of buying and then you also don’t need to worry about trying to store or sell the machinery afterwards. 

Use Price Comparison Websites

Another great tip for the materials you can’t find on Facebook Marketplace is to use construction price comparison websites. On these websites, you can type in whatever you’re looking for, and they’ll tell you the cheapest provider. Weigh the long-term benefits of different types of investment in your home renovation, balancing immediate enjoyment with potential resale value and future maintenance costs. If you do this quite far in advance, then you can sign up to be notified when different materials are on sale, saving even more money. Whilst this might mean you go to a few different stores, it will definitely save you money. 

Consider Getting A Credit Card

Whilst we don’t condone getting a credit card usually, many people choose to get one that has a good points system. They put all the material costs onto the credit card and accrue points as a result, such as flight points that you can use towards your holidays. Whilst this won’t save you money directly, you will be benefiting from the purchases! Just make sure that you absolutely can pay off your credit card bill the same month, so you’re not getting into debt as a result and instead this is good debt.

Author’s Bio:-

Daisy Moss is a freelance writer who specialises in business and construction. Having gained experience with Chippindale Plant whilst at University, she has since expanded her writing portfolio. When she’s not writing, you’ll find Daisy attempting to bake!