Press "Enter" to skip to content

Renovation budget: know what it is and how to make yours

Having a renovation budget is the first step for anyone who wants to make smarter and more economical decisions before making any kind of change in small spaces, whether residential or commercial real estate.

If you are planning to renovate your house or apartment, or even your place of work, budgeting is important. Knowing how much will be spent at all stages prevents the work from stopping halfway due to lack of resources.  

But if making your own budget seems like a lot of work, don’t worry. In today’s content we brought exclusive tips that can help you with all your doubts, okay? Keep reading and don’t miss out!

How to make a home renovation budget?

Making a renovation budget is always a challenge, and if you’ve never done anything like it before it ends up being a little more difficult, doesn’t it? When we talk about the costs for home renovation, it is necessary to keep in mind the importance of a well-designed budget. And it takes a lot of research to know where to find the cheapest materials, fair-priced labor, and supplier discounts.

Anyone who has done home renovations will have a story to tell. But what is enough is that the vast majority of them have bad memories. And this almost always happens because they don’t worry about having a complete plan to cover all the costs of the work – including expenses with each room, decoration items, among others.

Check out the five essential steps below to set up a budget without breaking your spending limit!

  1. Home renovation categories

Normally, in a residential renovation, we contemplate five categories to select which type of restoration will be. And they are: 

  • Maintenance – Renovation indicated for those who need to improve the structural functioning of the house, such as electrical and hydraulic, so that the place is safe for all residents.
  • Updating – It involves adapting the house to the present day, mainly its visual or material part (such as decoration, technology or the purchase of more modern products).
  • Try new styles – Great for those who just want to modify the decor and appearance of the house, with new colors and decorative materials, to make it more modern.
  • Prepare for sale – Ideal for those who want to renovate the entire house or a few rooms and be able to sell it (or rent it) with a good return on the investment spent.
  • Improve efficiency – This type of renovation serves to make the house more sustainable, reducing electricity and water bills and avoiding waste. Today it has become common to reform to make the home smart, where devices such as Alexa or Google Home are adopted.
  1. Create the materials budget

Creating this budget is basically going in search of all the materials needed for the renovation in search of the best prices, whether in building materials warehouses or e-commerces.

At this point, the most important thing to do is make a specific list for each room in the house. For example, if your intention is to renovate the bathroom, your shopping list will look like this:  

  • PVC pipes;
  • Electrical wiring;
  • Toilet;
  • Faucet;
  • Box;
  • Shower;
  • Drain;
  • Sink and cabinet;
  • Faucet;
  • Floors;
  • Paint;
  • Light fixture;
  • coatings.

So that you don’t forget any items, create a spreadsheet. So you can add all the materials needed for the work, their quantity, the unit cost of each item and the total value. Also, include the name of the stores so you can later compare prices with other places. 

  1. search for professionals

It’s no use looking for good materials without having great professionals to perform your work. A civil engineer , in particular, will be the professional who will indicate what can or cannot be done in the renovation. In addition to its duration, which are the structural parts of the house that cannot be changed, which material is the most suitable, among others. 

The best thing is to talk to other people and ask for directions. But in case you don’t know anyone who has undergone any kind of renovation in the last few months, some online service platforms may be the solution. Sites like GetNinjas are ideal for finding these professionals, as it builds this relationship network quickly and easily. A tip is to always assess whether professionals have good recommendations about their work and the way they work. 

Social networks also help you to connect with experts in the construction field. Currently, these service providers are promoting their work through professional profiles and in groups.

In your spreadsheet, include a tab for each professional contacted, what services they offer and what their work is worth. Just pay attention to the form of payment for each of them, some charge daily instead of the amount closed by the project.

  1. search suppliers

When building your budget, gather as much information about products and values ​​as you can. At this point, you can talk to the professional and ask for directions to the best stores to buy cheap, quality building materials and products.

Then, what you can do is look for the most well-known stores that sell building materials. Some companies even provide the preparation of an online quote directly on the website. This ensures a comparative basis and greater bargaining power to negotiate discounts with other companies.

Even with the ability to create a retirement budget online, don’t limit yourself. Go to building materials stores located in neighborhoods that usually don’t have their own e-commerce or website. 

In stores it is possible to negotiate the value of materials at a greater discount. If you purchase all products in one place, agree with the seller or manager for more affordable discounts if he is your official supplier. 

  1. work planning

Planning a work is one of the most important stages of renovation. Start by writing down the name of your project in any spreadsheet or notebook, and choose whether your renovation will be by room, partial or total. A creative name can help you get on with the plan without getting discouraged.

Then think about what you want to do in the room. If what you need is to fix a water pipe that is leaking or change the tile on your bathroom walls, for example, look for construction and decoration stores in the field with price options that don’t break your budget.    

Also, be sure to set a start and end date for the work, especially if you’re not living on the property. In this case, it is recommended to have someone supervising the work so that the date does not take so long. 

Be First to Comment

Leave a Reply

Your email address will not be published.