Guide To Renovating On A Shoestring Budget

Are you looking to renovate your home or investment property in 2020?

You might have thought about making changes, but have been turned off by the price.

The truth is, it isn’t a universal rule that home renovations must cost a lot. In fact, through using a combination of creative hacks and classic tweaks, you can transform your property without tearing a huge hole in your budget.

That’s right. If you are ready to shop around and do some DIY, you can revamp your house and make it look expensive without spending a fortune. This could mean living in a more enjoyable and comfortable space; or increasing the value of your home for auction day.

So stop dreaming about renovating and start doing.

If you want to renovate your home on a small budget, here are the top six tips you should follow. 

happy couple renovating house

Step #1 – Start with cheap fixes 

The good things in life are free.

But the best things in renovating are cheap.

You will find numerous cheap fixes that you can handle yourself instead of hiring a professional and paying stacks of cash. But here’s the catch – make sure that you get these small fixes right. There’s nothing worse than saving money by doing something yourself, then having to shell out hundreds (or even thousands) to fix up the mistakes you made. 

Some of the budget-friendly ideas you can follow are: 

✔︎ Give your room a fresh coat of pain: Choose a modern colour that suits your overall decor. This is one of the most inexpensive ways to make a huge difference to your room’s look. 

✔︎ Paint the floors: Adding new timber flooring might just break your bank. The vinyl floor experts from Homestyle Flooring suggest you “avoid the varnish and full sanding entirely. Get a durable floor paint to revamp the floors instead. You’ll save thousands of dollars.”

✔︎ Replace old light fixtures with new ones: Modern lighting options can upgrade your room’s look in a flash. IKEA and Bunnings have various affordable lighting options. So shop around.

Step #2 – Focus on the bathroom and kitchen 

Apart from your bedroom and living room, your bathroom and kitchen should also get equal attention. 

This will help to get a better value for the property if you wish to sell it. A few tweaks and changes to the bathroom and kitchen can work wonders, and they won’t even cost a lot. 

Looking to renovate your kitchen? Find out how here!

Some of the changes you can make may include: 

  • replacing the cabinet handles
  • changing the taps and replacing them with a splashback
  • repairing tiles
  • adding extra storage shelves
  • using drawer organizers

If you have ugly laminate cupboards in the bathroom or kitchen, it may look outdated. You can give them a new look with laminate paint. Apply an undercoat and paint it right on top of it.

The home loan experts from Credit Capital have an exclusive tip to help you save money without sacrificing style. They explain “you can also replace your old fixtures with stylish fittings that don’t cost a fortune. For example, buy an inexpensive bathtub costing approximately $300 instead of the one that has a price of $3,000. That’s a saving of $2,700 for the same functional outcome, and almost the same aesthetic too.”

You can also get locally-sourced subway tiles instead of the hand-painted designer tiles. The list of ways to get quality accessories at affordable prices goes on – so get creative when making renovation decisions. 

bathroom renovation before and after

Step #3 – Find the bargains 

If you are looking to renovate your house on a small budget, you should always go for online stores and auctions. 

While this may be a time-consuming process, you can save thousands on different fittings and fixtures. 

There are enough high-quality products available at discounted prices that using some of your weekend to check out auctions, op-shops and charity stores can mean saving thousands of dollars when it’s all said and done.. 

Step #4 – Include smart home appliances 

If you want to renovate – and especially if you plan to sell your house – you should include a few smart home features that will make your house more appealing to prospective buyers. 

You can get smart lighting system at less than $100. The features are simple, but they serve your purpose of modifying brightness, setting schedules, and so on. 

Small tweaks like this can help you renovate on a tight budget, but give yourself every chance of seeing positive ROI when you choose to sell.

Step #5 –  Know when to use the professionals

The more you’re ready to pitch in and roll your sleeves up, the more money you’ll save.

If you can use a paint brush or replace tiles, don’t hire a professional. However, take professional help when it comes to major aspects of your renovation like: 

  • Structural work
  • Plumbing work
  • Electrical work

Make sure you take three quotations before approving each service. That way you’ll be able to find the best price.  

You can also ask your friends and family to help with gardening work, planting trees, and painting fences. 

Throw in a hot pizza and a cold beer and they’ll be onboard! 

Step #6 – Build an outdoor entertainment area 

Who doesn’t love enjoying some time outdoors?

Many buyers prefer having an outdoor entertainment area. Adding this can easily increase the value of your house. If you have a backyard or patio, you can convert it into an outdoor area. 

Even if you don’t plan on selling your newly renovated home, you can get some affordable lighting, a BBQ space, and furniture – and you’ve got the ultimate place to kick back and relax!

Don’t have a patio? Don’t worry! Try adding a deck from the lounge connecting to your house. It’s an inexpensive option, and you won’t have to take too many permissions from the council. 

Remember, you don’t need the biggest budget or the most skills to renovate your home.

Start small and look for ways to save money without sacrificing style, and you’ll be on your way to the beautiful new home or investment property of your dreams!

guide to renovating graphic

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