Renovation Budgets - Bad Word!
But they are necessary evils, if you want to be able to afford your house after you are done. It is the first thing on the list for your renovations, and no one likes it, because it limits your spending ability on your great designs!
But you need to work this out ahead of time. In our particular case, we are renovating a house built in 1972, and I think that was the one and only time it was ever decorated. Every room needed something. So, we sat down and decided what was most important for the money and worked backwards from there.
The kitchen was the first to get attention, then the bathrooms, then the bedrooms. It all sounded good. We are planning on renting this property afterwards, and I wanted the kitchen to be nice, clean and something I would like. So, we set aside a budget for the kitchen, and discovered that since everyone is going for the stainless steel appliances now, that those very simple clean and yet modern white appliances are going for very cheap!. That was one area we saved on our renovation budget. Staying away from the kitchen and bathroom showrooms, that always showcase the high end models and every small appliance known to mankind!
Amazon Price: $24.99 $23.60 Buy Now
(price as of Sep 19, 2016)
Watch Out for the Small Incidentals
But even with our renovation budget written out, we failed to realize, just how much money is spent on smaller incidentals during renovations. This is especially true if you have lots of "help". People are running out getting this tool or that tool, more paint brushes, more rollers, more paint trays, more paint!
Small tools that were not thought of during the planning phase of this renovation, and the countless trips to the hardware store, and equipment rental shop. The unforeseen problems that arise, and the doubles of certain supplies that are bought because of lack of communication. Also the meals out, (who wants to eat sandwiches among drywall dust) coffees, snacks, and lots of gas. This part can add hundreds even thousands.
One thing I did learn, was to have a box where you could put things that were bought but were not used. These can be returned, and most good hardware stores will take them back without a receipt, you will get a store credit, which is just as good, as you will need more stuff again!
You may think things like lighting are small potatoes on the budget, but multiply that by the rooms you are renovating, and it adds up, even new floor heat registers and new hardware for any doors.. It seems like a small dollar item, until you are buying 20 of them!
I did find for the DIY renovator, that sticking to one major hardware store for everything, will save you money. They have a good supply of lighting designs, at a cheaper price than designer lighting stores.
If you are doing a whole house renovation, then you have to decide just where you want to put the bulk of your renovation dollar, but don't forget just how easily lighting, trim, door hardware, possibly new doors, paint, and paint supplies can all add up. Each on their own seems small potatoes, but man do they add up quick.
Amazon Price: Buy Now
(price as of Sep 19, 2016)
Sometimes you can work with the materials you have. Like the staircase in our house was old fashioned, and chipped, but to expensive to replace, so we cleaned it and painted it, and it looked good.
Always allow for a bit more in your renovation budget for circumstances beyond your control, but also be careful not to get caught up in the "while your at it's" this can cost you a bundle. Stick to your ideas, and even as the project is dragging on, and you are frankly sick of the whole thing, and just want it done, try to keep your bottom line in mind. I have friends who started out with a great renovation, but got impatient and hired someone to finish it, and that blew their budget out of the water.
So, try and vision yourself and your living conditions for a few months, and try to come up with some alternative ideas for living, so that you don't feel pushed and end up hiring out to just get it done.. That will cost you big time.