Watch out for costs #tip4
‘ohhhhhhhh that’s lovely’ too much time on pinterest or Instagram comparing your project with others is a bad idea.
You’ll notice when you start googling something the cookies get you, your then inundated with adverts. I can safely say my social feed is currently inundated with bathroom sinks, I’ve chosen one for the refurb but I’m being targeted everywhere throwing my ideas and budget into array !
A classic issue for going over budget is upgrading the specification on site: do this in a handful of areas, and suddenly you’re spending £1,000s more. Make your budget and buy things off site.
Try and avoid those last-minute impulse purchases, plus design changes, once a quote has been accepted and work is underway on site can play havoc with costings. Here are some tips to help you stay on track;
· Keep a generous contingency sum, say 10 to 20 per cent of the overall build budget
· Try not to lavish money on expensive frivolous fashionable fittings such as designer radiators and expensive kitchen worktops
· Always keep your target market of tenants of buyers in the front of your mind
· Don’t waste money on unnecessary works, such as too many wall units in the kitchen or that heated mirror in the bathroom
· Make do and mend — in older properties repair can often be a better option than replacement and is normally a lot cheaper and looks like you’ve renovated lovingly
· Keep the design simple, don’t put too much of your own taste in. Remember your new buyer will want to make it feel like home, or your new tenant will want it fresh
· Source pieces from local selling groups like Facebook. Something second had in great condition can often be bought at a fraction of the cost
I have a renovation calculator that helps you keep track of costs on the downloads section.