Renovating on a Budget

If you have grand plans for your home makeover, renovating on a budget can sound challenging.

Everyone wants a functional, comfortable and inviting home they feel proud to call their own.

And most of us want space for entertaining guests, and hosting gatherings for friends and family.

But how can you achieve your dream home without blowing the budget?

It’s likely you’re renovating to not only improve the home you live in now, but also to add value to your property when it comes time to sell.

So it’s important to think about which changes will give you the best returns in the long run.

We’ve gathered some tips from the experts on the most successful ways to tackle renovating on a budget.

Setting a Budget

Although it might sound simple, deciding on a budget isn’t as easy as just picking a number. To accurately determine how much money you will need to spend to achieve your plans, it can be helpful to create a wish list for each area of the home you plan to renovate. Then, for each room or outdoor area, list all of the supplies and services you will need. Also look for and note down any opportunities to reuse and recycle materials you already have to reduce your costs.

By setting a budget for each of the items you need, you can cost out each area, and add those together to arrive at your budget. Setting a budget with this level of detail, you may find the total amount is higher than you first expected. While this might seem off-putting, it’s better to have a realistic budget set before you start renovating to avoid running out of funds mid-way through construction.

A good rule of thumb is to keep 20% of your available budget as a safety net for any unexpected or extra costs.

Choosing Your Suppliers

You might have been told that obtaining at least three quotes for every job is always the best way to go, and for many people this is true. However, creating vision boards and Pinterest boards is becoming a popular way to plan home renovations and restyling. Some home renovators know exactly what they want the moment they see it – so if that’s you it can be best to act swiftly and purchase those goods to avoid disappointment, particularly if supply is limited or time is running out. It can also be helpful to source suppliers local to your area to further reduce the costs of your home renovation.

Indoor Renovations

Changing the look and feel of your home is an exciting undertaking. And home renovations have become a favourite pastime for Australians inspired by the abundance of home makeover programs on TV and our national obsession with styled interiors. Or as words it, “Australia is in the midst of a home renovation epidemic”.

Some of the most common indoor renovations we see today are upgrades of bathrooms and kitchens, as well as new flooring throughout the home.

While it can be tempting to use an array of different materials and colours in every room, using a restrained palette can help to create cohesiveness and flow. Looking for opportunities to use the same materials in multiple areas of the home can also help to reduce costs.

Polished concrete is a versatile flooring option suitable for these key areas of the home, for both its aesthetic appeal and functionality. Not only beautiful to look at and easy to maintain, concrete floors offer the benefit of thermal mass which can naturally help to decrease heating costs. And they’re suitable for wet areas too.

Outdoor Renovations

The outdoor ‘reno’ is all part and parcel of the great Australian dream. Our home is our ‘castle’, so we all strive to create a space that is uniquely ours. Some of us tinker away at the landscaping and exterior remodelling of our homes for years.

The most popular outdoor renovations are re-cladding or painting, alfresco dining areas, driveways, and swimming pools.

Exposed Aggregate, Coloured Concrete and Honed Concrete are all popular options for laying down the foundations of these outdoor landscaping projects.

Concrete can also be extended from inside the home to create indoor-outdoor living areas. This provides another opportunity to minimise the number of products needed for your renovation, helping to reduce costs and services overall.

Make a list of your ‘must haves’ and measure out your project areas before contacting suppliers to ask for quotes. You don’t have to know every detail of the renovation process, but understanding your project space and having a clear vision of your renovation outcomes will give you the confidence you need to get the best deals and make the right decisions the first time, every time.

Cheap is Not Always Best

Although your budget is limited, it’s important to think about the long term investment and vision for your home. Often you will find cheaper is not always the best option, nor the longest lasting.

Choosing durable materials that will last the distance can save you time and money in the long run, whereas cheaper materials and supplies may need to be repaired or replaced sooner and more often.

It’s always important to ask suppliers about product warranties and query your service providers about guarantees. Also be sure to ask about the best maintenance methods to ensure you keep your new renovations in the best possible condition and have them looking new for longer.

While renovating on a budget may have its challenges, it’s also an enjoyable and rewarding experience and an exciting opportunity to put your unique style on your very own home.

For more inspiration on home renovations, interiors, landscaping and concrete flooring, head to the Geostone website.