Top 5 reasons renovation budgets blowout
Whether it’s bathroom, kitchen or just general home renovations it’s easy to go over budget or go overboard.
Here are some of the most common mistakes
Having a great idea and having a great plan are two separate things. Make sure you sit and think out what you want to do and then do research as to how best go about it. Consider carefully which parts of the building you can keep, refurbish or work with. It’s always best to make a timeline the more you want to renovate the longer the timeline.
Failure to do research
Don’t be afraid to ask. Talk to the guys at your local hardware store they will be a great source of advice and knowledge as well as being able to direct you to if you need a contractor. Most of them would have seen it all to the people who think renovating the kitchen is a one man, one-weekend job. They will be able to steer you away from a possible disaster
Attempting DIY that should be left to the professionals
Plumbing and electrical work can be a disaster if done incorrectly. From leaks to electrical shocks to something even worse. In Qld there is even laws against doing the following:
- installing a new power point.
- replacing a light switch.
- replacing a batten holder with a new light fitting.
- repairing an appliance such as a heater.
- altering the location of an existing power point.
- replacing a light fitting with a ceiling fan.
- constructing an extension lead.
- replacing a plug on the end of a lead.
Unless it is changing a light bulb or maybe adding a new light shade as long as it fits onto the current light fixtures.
Plumbing has some of the same restrictions. Make sure to check out your state laws.
Being too trendy
Every year Pantone releases a colour of the year this is great for updating your wardrobe but repainting your house or all new furniture may be overkill. Any major changes you need to live with for a year or even longer otherwise your house will start to look dated and it may be renovation time again. You can still be trendy and modern without following all the latest trends on Pinterest. Smaller cheaper accessories from places like Kmart and Ikea can help make your rooms pop without spending a fortune.
Thinking no mistakes will be made
Forgetting to measure twice and cut once can mean money down the drain. But no one’s perfect so don’t expect everything to go 100% according to plan and to budget. Make sure that you have 10-20% buffer put aside for the little accidents that happen. If you’re one of the lucky ones and no have no mistakes or accidents happen then that extra budget means, you’ll have leftover funds to help you start saving for your next project.
Need a block of cash to help with your reno? A home improvement loan can help make your room reveal a winner!Apply today