5 Tips for a Successful Renovation (without breaking the bank!)

A kitchen is being remodeled.

5 Tips for a Successful Renovation (without breaking the bank!)

Taking on a renovation at home can be a big job! Sometimes, the smallest projects end up blowing out and the large projects…well, they’re a feat to say the least! Add the seemingly never-ending costs on top of logistics, styling and lifestyle interruption, and it’s easy to understand why many people feel overwhelmed with the idea of successfully renovating their home.

We’ve put together our top 5 tips for a successful renovation, without breaking the bank!

By popping just one or two of these tips in your toolbox, we’re confident your renovation experience will be less stressful and much more empowering!

Tip #1 – Create yourself a budget and identify the non-negotiable components of your renovation

The first step towards a successful renovation is to create a budget. We’re talking an excel spreadsheet, with separate tabs for each room, an itemised list of what materials and appliances need to be upgraded and a rough estimate of how much each room is going to set you back. Now you have a starting point! If the numbers are scary, this is a great time to scale them back. If you’ve come under what you originally thought you’d spend, fantastic!

It’s at this stage of your planning that we suggest making a list of your non-negotiables. For example, if you absolutely want to have a marble benchtop in your kitchen rather than a laminate top, pop that on the list! Or perhaps there are a couple of walls that really need to be removed to open your living space. Take some time to consider what your non-negotiables are before starting your renovation. This will make on-the-fly decisions a little easier when the time comes (and let’s face it, the time will come!)

BONUS TIP: Revisit your budget every couple of weeks to make sure you’re still on track and contingencies are accounted for.

Tip #2 – Do your research and get multiple quotes

Sourcing multiple quotes throughout the renovation process could save you thousands of dollars! Our recommendation would be to make 2-3 comparisons before locking in any trade. The same process applies even if you’ve engaged a Builder/Project Manager to contract trades through their business. Shopping around for the best possible price takes time, but it’s well worth the investment. If you have engaged a Builder/Project Manager to manage your renovation and trades, be sure to have this conversation with them prior to signing the dotted line to make sure everyone is on the same page.

Tip #3 – Consider the purpose of your renovation

This tip is arguably one of the most important when it comes to getting the best bang for your buck throughout your renovation. Why are you renovating your property? To sell? Are you making updates with the intention of renting? Or are you simply giving your home a refresh to turn this place into your forever home?

Depending on your answer here, there are a number of avenues to explore before taking to the walls with a sledgehammer and ripping up carpet (even though it’s incredibly satisfying).

Let’s explore this a little further. If you’re planning on living in your home for years to come, there’s nothing stopping you from spending some extra cash on premium features, spacious extensions, and the highest quality materials.

However, if you’re planning to sell or rent your property, it’s important to take a more strategic approach with your renovations. The aim is to increase the value of your property/potential rental return without spending a fortune. For example, if you’re planning to rent your home, you may opt for waterproof floating floorboards instead of hardwood timber. Perhaps you might just choose to freshen up the kitchen cupboards with a coat of quality paint, or replacing doors and benchtops if you like the existing layout.

A common mistake people make when renovating their home is not considering why they’re doing it in the first place. Instead, they spend tens of thousands of dollars on upgrades and unfortunately don’t see this reflected in their rental return or the final sale price of the home.

Tip #4 – Know where to be frugal and where to spend the extra buck

Now you have your budget set, your non-negotiables identified, and your trades confirmed, the fun can really begin! We’re big believers in bagging a bargain when it comes to materials and appliances, but it’s important to know when to spend the extra buck to save you some frustration (and money) down the track.

Example: You might choose to redo your kitchen with a flat pack rather than a custom-made kitchen through a local specialist. This is a tried and tested, fantastic option that’s worked for many DIYers and those on a budget.

On the other hand, we wouldn’t recommend settling for a cheap, non-durable brand of paint to splash the walls of your home. Instead, engage professionals who use the highest quality, durable, scratch resistant paint to ensure you’re not stripping back the walls shortly after you’ve repainted.

Tip #5 – Never underestimate the power of a fresh coat of paint.

While we’re on the subject, we’d like to finish off with one final tip: never underestimate the power of a fresh coat of paint! We’re not just talking walls. If you’re looking to freshen up your space but don’t have the budget for a full rip out and redo, why not consider popping some fresh splashes of paint throughout your home? Think feature walls, cupboards, bedroom doors, tiles (with the right paint type), and even your furniture! You’ll be amazed what a cheeky change in colour palette can do for the spaces in your home.

If you’re looking for an expert opinion to help bring your home to life, you know where we are! From small paint projects through to entire internal and external makeovers, Valley Painting & Maintenance are ready to help see your vision through. Contact us today and let’s get to work!

Topic: Top 5 Tips For A Successful Renovation
Valley Painting & Maintenance