Going over the budget is a common fear when it comes to making major home renovations. Spending more than you planned to can overwhelm your savings. However, there are many ways to save money during a renovation. With good decision-making skills and a professional team can help you have a cost-efficient remodelling process.
Here are some ways to save money on renovations:
1. Budget. Pre-planning and setting a realistic budget are essential to any home renovation. A thorough plan will help you set a budget that balances what you want with what you need. Stick to a pre-planned budget, and plan for contingencies. Allow yourself an additional twenty per cent of the overall budget, in case of unexpected expenditures.
2. Research. Renovation can be a nightmare if you do it alone. Find a a reputable contractor to help. Communicate the changes you want and and research what you don’t understand. Ask questions of your contract team and make sure you fully understand the plan before signing a contract.
3. Plan. Maximize savings by knowing where to buy cost-efficient materials and furniture. If you’re looking for a unique, hard-to-find item, search online and consult with your designers to make sure it can be installed with your cabinets, plumbing, etc. Designers and contracters often get professional discounts so make sure to talk to your hired team about that possibility.
4. Cost-efficient design. The design of your home plays a big role in renovation expenditures. Ask neighbours with similar homes what challenges they faced with their changes. Make sure your contractor team has an architect who can look at the plans for your structure and avoid costly problems.
5. Needs over wants. Sometimes the excitement of potential change makes it hard to focus on what you really need. Wants cannot overpower needs. Don’t splurge on items you cannot afford, and listen to designers. Not everything will look great in your living room, just because it’s appealing in a catalogue.
6. Function. When renovating a home, function is essential. If you can reorganize and increase efficiency in your home beforehand, do it. If you need additional space, consider replacing space-hogging shelves with pull out drawers that contain racks for stacking canned goods and other items.
Renovation can get costly if you don’t have expert advice. Decision making is tough, which is why it’s beneficial to hire and consult with a remodelling contractor.
If you’re looking to renovate your house in Toronto, contact PT General Contractor Inc.