Five ways to renovate your home on a budget
Renovating can be expensive at the best of times, but it’s particularly costly right now, as a result of material and staffing shortages.
But buying a bigger home is hugely expensive too. With the average UK house price now £275,000 – £27,000 more than in 2020 – many will be debating whether it’s best to improve their existing home, rather than move.
Combined with the cost-of-living crisis and soaring energy costs its understandable that many are making the decision to go it alone, with a DIY renovation project.
It can save you money, but the costs still add up, so Scott Clay, distribution development manager at specialist lender Together, has shared his top tips to help renovate on a budget.
Here’s what he advises to cut down on costs:
1. Transform your living spaces
A coat of paint and some clever adhesives can transform your renovation plans overnight at a fraction of the cost of professional interior redecoration. Whether that involves you painting the front door with a funky colour, livening up floorboards with a coat of fresh white paint, or using adhesive panels or tiling to uplift your walls, floors, and kitchen splash backs – the possibilities are endless. Using temporary designs means you’ll be able to switch up styles or chose different patterns/colours easily.
2. Repair your entertaining spaces
Whether it’s soft furnishings or appliances, a good clean may be all that’s needed to return something to its former glory. Other items can be given a new lease of life cheaply. For example, replacing a kitchen can cost thousands, and cupboard carcasses can make up a large chunk of the cost. If you’re happy with your kitchen’s current layout, retain the carcasses and simply replace the doors and work surfaces to give your kitchen an entirely new look.
3. Enhance your work spaces
With most households planning to hybrid work for the foreseeable, creating a dedicated at-home office has become a top priority. Together’s research found 20% of homeowners would sacrifice part of their garden to install outdoor offices. For those needing the extra space but wanting to avoid the costs of a full extension, why not revamp the garden shed or save towards a summer house instead? For those with garden spaces, installing stand-up desks, proper office chairs and optimum lighting are all simple ways to revitalise your space, ensuring you can keep motivated while working from home.
4. Shop around or go eco-friendly
Prices can vary wildly so make sure you get three different quotes, plus a recommendation from a trusted source and most importantly agree exactly what you’ll be getting for your money ahead of time. Also be sure to do the same when it comes to materials, with supply chain shortages, materials can cost you pretty penny these days so make sure you’re doing your home as to what’s available for the best price. Additionally, you might be interested in eco-materials. Together’s research found 30% are willing to decrease their electric and energy usage and a great way to do so is with eco-material. For example, new technology using aerogel and mineral material can now be utilised in effectively insulating your home while driving energy costs down and doing your bit to cut your carbon footprint.
5. Industrial look
If all else fails, you could consider unfinished interiors for that rustic yet elegant charm. For example, exposed interior brick or birch-faced ply won’t require any plaster work. Not only will this save you costs on additional materials but also the extra fees of hiring a professional plasterer.