It’s finally time for the change. Your family is expanding, you’ve run out of space and the decision is to change your property to make it the home you dream of. Your original idea has grown arms and legs and to get everything done you need to win the lottery! Don’t worry we’ve all been there but we know it’s never going to happen so how do you allocate funds accordingly for your renovation. We have a few tips to help you out, without going overboard.
Know why you want it done
If you don’t know what you want done to your house you won’t have a clear idea of the amount of money you need to achieve it. It will be difficult to set goals for both the renovation and the budget. It’s a lot of money to put out and how much you are willing to spend will help you streamline the process while saving time, money and stress in the long run.
Seek the right advice
There are a number of places to seek advice. You can ask those who have previously had the same renovation done in terms of cost and where they spent their money. We also advise talking to an architect who can not only advise you on what will work best for your home but also how much it could set you back. Please keep in mind that the cost of material is continuing to increase so the price that you are given this month may be different in six months time.
Be honest
It is important that you are upfront about how much you have to spend. This will ensure that your time as well as ours isn’t wasted. We also have the potential to help you get the best out of your budget with ideas you may not have considered before. Sharing your budget with us will allow us to prioritise what is important to you and what can be changed.
Know your fees first
Although we offer a free quote and enquiry service up until the point of starting work you will have other fees you may not have realised. If you require drawings for the work you are having done you will need to pay an architect fee. Along with this you also need to pay for planning permission, structural engineers, surveys and that is all before you speak to contractors such as us! We understand that you are taking on a big expensive project which is why you need to consider the hidden costs before jumping in.
Shop around
You are putting out a lot of money to begin with so we understand the want to have all the expensive top end products but it isn’t always necessary. We believe it is best to shop around and although we have companies that we have a close working relationship with, if you can find the product cheaper elsewhere then go for it! If saving £500 on kitchen cabinets means you can have the new dining table you have dreamed of, you won’t regret making the change.
Set a contingency (so you don’t get any surprises)
Like anything in life there are always surprises and room for things to go wrong! That is why we advise you to have a contingency plan of at least 10%. Problems may arise that we weren’t aware of before starting the project but need fixed in order to continue. It is better to have the funds ready and be able to make the decision to get the problem fixed, rather than have no spare funds and have to take the money from another aspect of the project.
Home renovations and extensions can be fulfilling projects but it is important to be clear on your wants, needs and means without getting them confused. Adapting your home to what you dream of will bring you joy for many years to come while improving the quality of your life. The cherry on top will be staying within your budget.
If you have a project coming up that we could help with, please get in touch.