How To Mitigate Rising Renovation Costs

How To Mitigate Rising Renovation Costs

How To Mitigate Rising Renovation Costs

House Beautiful/Mark Scott

Planning a home renovation? Whether you want to expand your space to meet the needs of a growing family, or adapt your home to make it more accessible for a change in circumstances, taking on a renovation project will always seem daunting, even more so recently with rising costs.

However, the benefits of renovating a home are tenfold, from transforming the way you live to providing a good return on investment. Looking to mitigate rising remodelling costs? Here are five tips to help.

Make a thorough plan

As with any renovation project, planning is key, and a clear plan and budget should always be a number one priority. Amanda Pollard, senior editor for Houzz.co.uk, stresses that drawing up a detailed budget will enable you to fully understand the scope of the project, highlight your priorities, and pinpoint areas for potential savings early on.

bathroom renovation

Jours & Nuits © Houzz

Seek out fixed prices where possible

      ‘With prices rising, it is worth enquiring with professionals about fixed-price contracts,’ Amanda advises. ‘Designers on Houzz tell us that, where possible, they will try to offer their clients stability by ensuring that contracts are as fixed as possible, especially when construction costs are confirmed.’

      Ask about alternatives

      When you are trying to cut back costs, find out whether there are any opportunities to use alternative materials or building methods that may incur savings. ‘Professionals on Houzz suggest reducing structural work and using alternative methods for building walls and floors, where the majority of the cost goes in a large-scale project, which could offer some savings,’ Amanda adds.

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      House Beautiful/Carolyn Barber

      Carefully consider your wish list

          A big part of planning thoroughly is ensuring you stick to your to-do list and initial plan, but it’s likely you may go off course and tweak the design, or you may have to find alternative options if challenges arise during the build. Saying that, it pays to do your homework before you get started and really consider what you do and don’t need. The clearer you can be with your designers and builders on what you want, the more efficient your project will be, helping to keep costs down overall.

          Source and order materials early on

          ‘With costs fluctuating on materials, it may be worth discussing with your pros whether it’s best to buy now and stave off potential price rises later on,’ Amanda suggests. ‘If you have the option to safely store deliveries at the project site, this could also help to ensure materials are ready when they’re needed. This will also avoid any potential hold-ups – and in turn unexpected costs – due to delays or longer than expected lead times. If storage is not possible, try to negotiate future delivery dates with vendors.’

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      https://www.housebeautiful.com/uk/renovate/finance/a40754089/mitigate-rising-renovation-costs/