In the second part of this blog series, you learned about the role of design and construction professionals and how they can help you build a home without spending more than what you planned and without compromising on quality.
Here, let’s focus on what you can do to cut costs and save money on your renovation.
Try bargain hunting
Bargain hunting can help you save big bucks, but it requires diligent research and timing.
Some bargain hunting tips:
- Shop around for the best prices on materials. Take advantage of seasonal discounts, rebates, and clearance sales especially after Christmas and New Year. There’s also end-of-financial-year sales, Black Friday, Cyber Monday, you have many options all year round.Look for stores that sell second-hand building materials and stores that sell products purchased from construction sites or at manufacturers' discounts. Subscribe to their mailing list. You might score tiles, carpets, hardwood floorings, windows, and more from them.
- Make sure that an item matches the specifications that you need before buying it. Avoid falling in love with products that you don’t need.
- Inspect items carefully for defects. Most are non-refundable and might not have a manufacturer's warranty.
- Tiles and tapware that are no longer current models are often cheaper.
- Buy 10% more tiles to allow for breakage.
- Some home improvement stores sell ‘floor models’ or the products that they have used in showrooms at a cheaper price.
- Buy from nearby businesses for cheaper delivery or shipping costs.
- Check out your neighbourhood’s garage sales for furniture pieces that you can reuse.
- Consider buying from businesses that closed due to the Covid-19 pandemic. Hotels and accommodations that went out of businesses often put up furniture, cabinets, bathroom fixtures, and doors for sale to liquidate their assets.
The internet is a very powerful tool that makes bargain hunting more efficient for you. Research is the key to a really good deal.
Use your skills to speed up the project
All renovators are budget-conscious. In most cases, the homeowner will DIY a part of the project to save money.
For one, experienced renovators often embark on a self-managed project. They hire tradespeople separately.
Others offer to do tasks such as demolition or clean up to avoid extra costs.
Feel free to do something to speed up the process, but make sure that you will not sabotage your own project.
This is not only about skills and construction experience. It is also about time and accountability.
Always remember that you signed a contract with your builders. You don’t want to make a mistake that will inevitably affect how they work. Your project might get extended for weeks. Worse, you might spend more money than planned.
Work with professionals
You might not know it, but your designer or builder can help you buy building materials at a lower price. These professionals build relationships with manufacturers and distributors to get discounts on bulk purchases.
Take advantage of their strong ‘buying power’.
There are cases when the homeowner was able to cut costs of the construction because the builders got a better price per unit for the flooring, fixtures, finishes, etc.
BONUS: 15 ways to save money on cosmetic updates to your home
A renovation is one of the most exciting, yet, trying times in a homeowner’s journey. Everybody wants to save on their construction costs however, achieving this involves a lot of hard work and research. It is also crucial to trust in the process and in the professionals you hired to design and build your project. They are more than willing to help you find clever ways to meet your budget without sacrificing the quality or appearance of your home.
To find out how Superdraft can help you save thousands on your project call us today on 1300 936 740.