Bhg
  • Shop
  • News
  • Food
  • DIY
  • Garden
  • Travel
  • Renovating
  • Decorating
  • Property
  • Health
  • TV
  • Podcasts
Bhg
  • Shop
  • News
  • Food
  • DIY
  • Garden
  • Travel
  • Renovating
  • Decorating
  • Property
  • Health
  • TV
  • Podcasts
Subscribe
YOU’LL NEED A WEDGE TO HANG THAT DOOR
Watch 6:32

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

The ultimate guide to renovation costs

The ultimate guide to renovation costs

Leaking pipes? Renovating? How to get the best out of your tradies

Leaking pipes? Renovating? How to get the best out of your tradies

5 things you need to know before hiring a tradie

5 things you need to know before hiring a tradie

7 common renovation regrets

7 common renovation regrets

{headline}

{headline}

Six ways to save money on your bathroom reno

Six ways to save money on your bathroom reno

Six things you do that drive tradies crazy

Six things you do that drive tradies crazy

How much does renovating a home cost?

How much does renovating a home cost?

{headline}

{headline}

Before & after: A dated bathroom gets a modern upgrade

Before & after: A dated bathroom gets a modern upgrade

Before and after: This mum demolished and transformed her bathroom for under $16K

Before and after: This mum demolished and transformed her bathroom for under $16K

5 of the best renovation apps

5 of the best renovation apps

Reader reno: A combined bathroom and laundry makeover for $3,000

Reader reno: A combined bathroom and laundry makeover for $3,000

11 ways to make your home look more expensive

11 ways to make your home look more expensive

5 new home design trends we’ll be seeing in 2021

5 new home design trends we’ll be seeing in 2021

Reader reno: A white, Scandi-style kitchen with a navy VJ wall

Reader reno: A white, Scandi-style kitchen with a navy VJ wall

  1. Home
  2. Renovating

5 ways to keep your renovation budget on track

A tradie shares his top tips. - by Nicola Conville
  • 16 Aug 2019
5 ways to keep your renovation budget on track
Getty

Renovations are a great way to add value to a home, increase space, and create a more modern aesthetic to an older house.

However, it can be difficult to stick to a budget and you may end up blowing it if you don’t keep tabs on your costings.

Tim Prohasky, owner of Solarflow, shares his top tips for sticking to your home renovation budget.

1. Do your research

In order to be able to stick to a renovation budget, it is important to ensure you have a realistic budget in place. You’ll need to do some research into the cost of materials and products, as well as the cost of labour. Doing this research will allow you to estimate the cost of your renovation, which will help you make an informed decision as to whether this is something you can feasibly afford at this point in time.

Woman with a tradie
Getty

2. Get quotes

Research is an important part of estimating your budget – but don’t leave it at a guess. Work with trade professionals who will provide you with a written quote – this will give you a solid cost for all aspects of your renovation. When sourcing quotes make sure you get at least three quotes from separate businesses – this will help to ensure you are getting fair market price.

3. Add a buffer

If there’s one thing that we have learned from our favourite home renovation shows, it’s that renovations don’t always go to plan! Once you have estimated your budget, it is a good idea to add on 25% of the total cost as a ‘buffer’ for any unexpected occurrences or additions that you make. This will help you to stay within your estimated cost bracket, even in the event that things go a little haywire.

Signing a contract
Getty

4. Track your costs

Keep an updated spreadsheet of your invoices and receipts. This will help you stay in control of your outgoing costs and you will be less likely to be tempted into splurging on something that you don’t need. When you can see all of your expenses right in front of you, you’re much less likely to blow your renovation budget.

5. Stick to the plan

Once you have started your renovation stick to what you originally agreed upon. Changing the plan often leads to delays, money being spent on extra materials and extra labour time. Deviating from your plan more often than not causes significant impacts to your budget, so it’s important to know where to draw the line during changes to your renovation.

This article originally appeared on Home Beautiful

You might also like:

7 common renovation regrets

The best ways to finance your next renovation

Selling your home? What to renovate, fix or just makeover for the best return on investment

  • Renovating
  • Finance
  • Bathroom Renovations
Nicola Conville
Nicola Conville
Nicola is a writer and editor with more than 20 years' experience in print and digital media. She specialises in health and wellbeing, parenting, travel, beauty, lifestyle and human interest stories.

Get your mag delivered!-Save 29% off the cover price!

Subscribe for $4.95 per issue

Subscribe Now
Get your mag delivered!

Get your mag delivered!-Save 29% off the cover price!

Subscribe for $4.95 per issue

Subscribe Now
Get your mag delivered!

Recommended to you

YOU’LL NEED A WEDGE TO HANG THAT DOOR
Watch 6:32

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

The ultimate guide to renovation costs

The ultimate guide to renovation costs

Leaking pipes? Renovating? How to get the best out of your tradies

Leaking pipes? Renovating? How to get the best out of your tradies

5 things you need to know before hiring a tradie

5 things you need to know before hiring a tradie

7 common renovation regrets

7 common renovation regrets

{headline}

{headline}

Six ways to save money on your bathroom reno

Six ways to save money on your bathroom reno

Six things you do that drive tradies crazy

Six things you do that drive tradies crazy

How much does renovating a home cost?

How much does renovating a home cost?

{headline}

{headline}

Before & after: A dated bathroom gets a modern upgrade

Before & after: A dated bathroom gets a modern upgrade

Before and after: This mum demolished and transformed her bathroom for under $16K

Before and after: This mum demolished and transformed her bathroom for under $16K

5 of the best renovation apps

5 of the best renovation apps

Reader reno: A combined bathroom and laundry makeover for $3,000

Reader reno: A combined bathroom and laundry makeover for $3,000

11 ways to make your home look more expensive

11 ways to make your home look more expensive

5 new home design trends we’ll be seeing in 2021

5 new home design trends we’ll be seeing in 2021

Reader reno: A white, Scandi-style kitchen with a navy VJ wall

Reader reno: A white, Scandi-style kitchen with a navy VJ wall

Bhg
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Bhg Magazine Subscribe
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

Brands

  • All Recipes
  • BHG Shop
  • Girlfriend
  • Home Beautiful
  • New Idea
  • New Idea Food
  • Practical Parenting

Our Network

  • marie claire
  • Instyle
  • Beauty Crew
  • Who
  • Women's Weekly Food
  • Bounty Parents
  • That’s Life
  • Perth Now
  • The West Australian
  • 7Plus
  • Airtasker
  • 7NEWS
  • SocietyOne
  • Health Engine
  • Starts at 60
© 2021 Are Media PTY LTD
Get more from Better Homes and Gardens

Magazine Subscription Offer

Get your mag delivered!-Save 29% off the cover price!

Shop This Offer
Get your mag delivered!