While the media might be talking all about the surging property prices at the moment, there’s a smaller story also doing the rounds. It surrounds the number of renovation projects which are currently ongoing; in short, builders are inundated with jobs.
Whether it’s a basic extension or a new kitchen, they all count.
One thing that many of these have in common are the huge costs that tend to be involved. After all, the rules of basic supply and demand dictate that this is always going to happen, even more so with the cost of materials which is also skyrocketing.
While renovations are always going to be costly affairs, there are ways to manage them shrewdly. Let’s now take a look at some of the most effective methods through today’s post.
Budget for damage limitation
This first point is one that many people often forget.
We haven’t seen one renovation project that doesn’t result in huge amounts of dust – and this naturally puts your existing belongings completely at risk.
Our advice is simple, if you have anything that is remotely valuable, get it out of your house as soon as possible. Even if it’s located at the opposite end, you’ll soon find that the chaos of renovations can still put its condition at risk. Instead, rent a storage unit and keep everything as far out of the way as you possibly can.
The early bird catches the worm
If you’re looking for the cheapest possible price on your renovation project, you need to be an early bird.
In other words, don’t expect to get the job done during the summer months.
The traditional ‘renovation season’ runs from late spring through to early autumn. This is when the vast majority of people will be looking to get their jobs completed.
Consequently, it’s also when the prices will be at their highest.
If you start your project in the middle of winter, you’ll often find that you can get a much better deal. Of course, you’ll then have to contend with possible weather-related delays, but it can be a risk worth taking in a bid to overcome that infamous supply and demand curve.
Don’t forget your “operational” costs
If you’re getting a new kitchen, how will you cook for the duration of the project? Will it be takeaways every evening?
It’s costs like these which are often forgotten about. While you might have the cost of new worktops and cabinets on your brain, don’t forget about the other, more operational costs which will soon start to rack up.
To avoid any nasty surprises, make sure that you create a comprehensive budget for your project which factors in all eventualities.
Understand the areas you’re happy to compromise on
We’re not suggesting that you should skimp on quality, but there will be areas of your renovation where you can make some savings.
For example, if you’re getting new windows fitted, is it really necessary to go for the top-of-the-range model? Could you instead get by with a slightly cheaper alternative which still looks the part?
These are the kinds of questions you need to be asking yourself. It’s all about understanding where you can make a compromise without it having a significant impact on the overall quality of the job.