Staying under budget when completing a house renovation is easier said than done.
As every renovation is different, setting a budget aside and sticking to it can be a real challenge, particularly when there are lots of options to consider, with many unexpected costs likely to arise.
Sound all too familiar?
At Checkatrade, we work closely with our Members and have compiled some top tips that will help you stick to your renovation budget, regardless of whether your project is big or small:
Be realistic with your aims
It is very easy to get caught up in your renovation plans and set your sights on aims that aren’t realistic or will prove costly. Be honest with yourself about far you can stretch your budget and how you plan on saving for your renovations.
Remember, the whole point of having a budget is to feel prepared for your home improvements and to gain an understanding of what you can realistically achieve.
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Make sure you’re specific about what you want
Being specific about the renovations you want, will ensure your tradesman can give a more accurate estimate for completion of the works. Budgets tend to go over when rash decisions are made, and not enough thorough planning has been done in the build-up to a job.
Having a clear picture of what you want your renovations to look like and clearly outlining these plans with a tradesperson will ensure the job is much more likely to come in on, or even under, budget.
Understand the quality of materials
If you really want to stay under budget, think about the quality of the finish you want. More often than not, those who are trying to stick to a really tight budget will often compromise too much on the quality of materials used, meaning the job has to be redone. This, in itself, can be extremely costly, as Edward Charlton from Charlton Heat and Power advises:
“Save time and money by not sending out your tradesperson to upgrade your choice, which you thought was cheap and good but turns out is poor quality. Be realistic and go for quality if you want a superior look – cheap is not necessarily the right price.”
Plan for the unexpected
Even the tightest and simplest budgets will need wiggle room for unforeseen problems. For example, your Tradesman may need to increase the spend by 15% due to unexpected labour costs, which should be taken into account from the word go.
When there is a job with multiple trades, the customer should add 25% on as a buffer to the total cost to account for any unexpected problems.
For example, renovation works often uncover serious maintenance issues that will need to be resolved before the job can be completed. It is these types of problems that catch home owners by surprise, blowing the budget in their wake.
Are you currently thinking about renovating your house or are you even in the process of completing home improvements? Checkatrade boasts over 30,000 carefully vetted Members, ready and waiting to help. Search our directory to find your local tradesman or contact our customer relations team for more details.
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