How to Minimise the Cost of Home Improvement
If you’re looking to add value to your property, and improve the quality of your home life, then a little bit of home improvement might be in order. Home improvement projects come in a range of sizes. The most ambitious of them can be incredibly expensive. Fortunately, a little bit of planning and foresight can help to bring your costs down considerably. Let’s look at the problem, and how it might be solved.
Type of Improvement
Before you get started, you’ll want to form a plan. This plan should be based on the amount of money you have available. Are you going to be investing a large chunk of your savings, or are you going to be working to a tight budget?
Your budget will determine whether or not you bring in a dedicated contractor or go down the DIY route. Some renovations, like the home extension, can add considerable value to your property, and stretch over months. Others, like interior decoration, can be done on a modest budget, and be completed in a single afternoon.
Planning and Forecast
For more complex projects, it’s worth creating a detailed plan of your property, and working out the costs of your materials and any labour you’re bringing in. It’s almost always a good idea to include a generous margin for error when it comes to unforeseen delays and costs, especially if you’re going down the DIY route. You don’t want to run out of money midway through a project – this is a more-or-less sure-fire way to create a never ending project.
The larger the scope of your project, the more you’ll need to worry about the costs of your materials. If you’re landscaping your garden, for example, then you might need to draw upon a range of different products. An advantage of working out your material needs in advance is that you’ll be able to buy building and landscaping materials in bulk from a trusted builder’s merchant. In some cases, you’ll be able to get away with using affordable materials; in others, it’s worth investing that little bit extra in quality.
In some cases, you’ll be bringing in contractors. Some jobs, after all, can’t be done by even a skilled DIYer. When you’re vetting your contractors, you’ll want to source multiple quotes for every job, and look into the reputation of everyone. If someone does a good job, then it’s worth bringing them back for later.
Many homeowners elect to work as project managers themselves, saving on the often-considerable cost of bringing in a dedicated project manager. You should be aware that project management is something that requires a very particular skillset, and that you’ll need to teach yourself to do it really well. But if you’re prepared for the learning curve, then this might be an affordable way to go.