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10 Tips On How To Renovate The Smart Way : Renovation Reality

Kevin Gomer
08 Nov 2016

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1. Refinance your Home Loan

One of the most common ways to save money on a home renovation is by taking out a new loan or extending your current loan. Refinancing with a new lender could mean you get a new loan with a lower interest rate that can save you a lot of money when it comes to renovating your home.

2. Extending your Home Loan

If you’re happy with your current loan and lender, a good way to save money is to extend your current loan, this can avoid any of the costs associated with refinancing and can mean you will be putting more money away at the end of the month.

3. Get a Credit Card

If you’re able to pay off your renovation ideas quickly or you can secure a card with zero-interest for a period of time, a credit card can be an easy way to help fund some of your renovation.

4. Get Creative and inspired by yourself

By doing it yourself, it can make a big impact on your budget. Things like resurfacing or repainting bathroom tiles, baths and basins can dramatically improve the ‘look’ of your home—at surprisingly little expense. It helps to visit colour consultants at your local paint shop. These experts are full of knowledge and may be more helpful than going to interior designers and decorators. Another form of inspiration you can access easily is off the internet at websites like Pinterest. There is hundreds of thousands inspirational images you can choose from to create a mood board of your home renovations to work off.

5. DIY the small stuff wherever you can

By doing some of the demo work and labour you can absolutely save money on home renovations. Where ever you can get your family and friends involved the cheaper it will cost you.
6. Pay for the important stuff

You may think your saving more money by doing the hard things yourself. But in the long term this could only end up costing you more. When it comes to DIY its very important to know your limitations and remember when shopping around for a quote on a big job from the professionals remember to get between 5-10 quotes before settling and make sure they are highly credited for their line of work. Patience and persistence sure does pay off when it comes to home renovations.

7. Take to YouTube for DIY Solutions

YouTube is a website for information displayed in videos, and it has absolutely everything on there so if you need to know how to do something relating to home renovations that is the website to visit. People more than likely would have shared their experience with the same or a similar project.

8. Shop Online

These days everything is cheaper when brought online. You will be surprised how much you can save on things if you buy it online and wait for the shipment rather than buying it in the shops and having it there and then. You may also be able to find used materials on websites such as Gumtree. There is more than likely someone out there that is trying to sell something they have already used and no longer need that might come in handy for you. So before you go to a brand new store to purchase your materials check out the online community. You might be surprised.

9. Compromise

Sometimes you need to adjust your expectations to fit within your budget. By doing this it doesn’t mean you can’t get the same finished result as you wanted. It just means things may be slightly altered. Make lists that will help you to concentrate on the things you absolutely cannot do without when renovating. The other things can come later on and there is almost ALWAYS a way to work around it when it comes to saving money.

10. Re Consider what you can afford

It’s no lie that costs can add up extremely quickly when renovating. It may be impossible to set a realistic budget that you are sure to stick to. A great way to budget is by online renovation calculators and guides. So be sure to do your research before getting on board the renovation rumble.

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