10 tips to Save Money on your Renovation

Image Source: Moneycontrol.com

So here you are, ready to start a new renovation project. Surely, one big thing on your mind right now is the money that you’ll be spending. You’ll have plenty of people come to you and try to increase your budget, but we’re here to suggest a few ways you might be able to save money on your project.

  1. Compare quotes from a couple of companies
    • Don’t just go with the cheapest, look at the detailed specifications closely and judge professionalism
    • Often your local contractors will leave smaller details out which impact costing later on, or won’t tell you the brand of material they plan to use thereby reducing your quote in order to get the project.
    • A professional with proper documentation and scope definition up front leaves less ambiguity for some of these scenarios
    • Professionalism comes at a cost in the short term, but in the longer run
    • Note: BuildingBlox is happy to discuss any other competitive quote you might have received (that includes details)
  2. Commercial tiles where its not visible (behind kitchen cupboards)
  3. Repair doors & windows & get them polished instead of putting new ones
  4. Pick and choose where you want to spend more (e.g. hardware is a good idea)
  5. Designs – if you’re one for trendy designs, keep in mind that you might have want to redo it once the trend changes in a few years, at which point it will be expensive. Consider going with something that you will like for a longer time for items that are harder and more expensive to change (e.g. tiles, flooring)
  6. Make sure your specifications are as detailed as possible. The more you detail out and think of up front, the less likely you’ll want to make changes, which then cost money and time. In other words do invest some time and money in planning up front
  7. Bathroom design suggestion – use basic sanitaryware but pick nicer taps, faucets
  8. Plan 10-15% for contingencies because it does happen
  9. Reuse components if possible
    1. Wood chaukhats, doors for example. Other wood if sure its termite free
    2. Glass if you are replacing windows or partitions
    3. Latches
    4. Electrical fixtures, appliances – fans, lights, ACs, gysers
    5. Kitchen appliances – microwave, oven, toaster, mixer, fridge
      (take a look at our appliance calculator sheet to budget your appliance costs)
    6. Furniture
  10. Products
    1. Pick product brands that fit your price segment. E.g. Jaquar, Kajaria/Nitco, Crabtree fall in the midrange good quality product band. One can always go up the price range but you don’t need to if you’re trying to save money
    2. Use 1-2 shops to make your purchases as opposed to spreading them out. That allows you to negotiate better

 

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