How to budget for a home renovation

Johannes van Graan Johannes van Graan
Free images, Rita Paião - Homify Rita Paião - Homify
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Whether you want to rip out your kitchen cabinets or give your entire home from floor to ceiling a new look, planning a renovation project properly from the start is crucial. And that includes setting up a proper budget to ensure you can hire the best contractors, obtain high-quality materials and fixtures, and not have to worry about things going south regarding unexpected expenses. 

So, let us here at homify help you with budgeting for your dream home renovation…

1. Budgeting for a home renovation: Define your project

First off, you need to know exactly what you want to achieve before you can know how much you can spend. A bigger living room? A new wraparound porch? How about a swimming pool and braai area in the back garden? Kicking off a renovation project with a vague idea will only lead to undesired results and spending more than you wanted to. 

Start off by choosing which rooms or areas of the home you’re going to focus on, then decide how big that change will be. 

2. Budgeting for a home renovation: Research the general costs

With a proper plan in place, it’s time to start looking at what building materials cost. Getting quotes for tiles, paint, fittings and fixtures cost will help you to start drawing up a budget, which is why it’s vital to first know which rooms of the home you want to focus on (as there is a big difference between bathroom tiles and patio tiles, for instance). This also allows you to work out the precise quantities you will need for the various building materials. 

Another advantage of already having various quotes is that no so-called building professional will be able to take you for a ride. 

3. Budgeting for a home renovation: Search for contractors

Price and trustworthiness are two important factors to consider when looking for the right building / construction partner. That’s why we recommend having sit-down meetings with the candidates you’re considering. 

Let them look at your property and tell them about your renovation wants and needs. With their knowledge and resources they might be able to offer suggestions, which could help you decide if you can have a good working relationship with them. 

Once you start obtaining quotes from your candidates, don’t be shy to ask why one is cheaper / costlier than the other. And remember to factor about 15 – 20% legroom for your renovation budget, as you never know when unexpected costs will creep in. 

4. Budgeting for a home renovation: Work with the pros who can save you money

Here we need to state that the cheapest quote is not necessarily the best one. But should one professional quote at a lower price while still using high-quality materials without going over deadline, then why not go with them? 

Your contractor of choice should be able to rely on their years of experience in the industry to lower a few costs here and there (perhaps through their relationship with vendors and suppliers). 

5. Budgeting for a home renovation: Think about your house’s resale value

Are you planning on staying in your home for quite a while longer – perhaps forever? Then it makes sense to splurge a little to create your dream space. But if you want to sell sooner rather than later, focus on your potential return on investment. 

Your return on investment will mostly be based on what your house is worth – remember that you don’t want to spend R500,000 on a new kitchen in a R1 million home. And be sure about which home renovation projects add more value to a home than others (a little birdie told us that potential buyers always scope out the kitchens and bathrooms first). 

6. The perfect professionals for your home renovation

Want to opt for a proper home renovation project with all the bells and whistles? Or maybe just add some touch-ups to your house here and there? Regardless of the size and scope of your renovation, consider Kgodisho Solutions and Projects, a general contracting team in Pretoria. 

Having been present in the industry for quite some time, Kgodisho Solutions and Projects has built up an impressive portfolio over the years, not to mention a devoted client base. This firm is accredited with the NHBRC. And even though its main areas of specialisation are building and renovations, Kgodisho Solutions and Projects offers a wealth of services that can enhance the tiniest (and the biggest) of home renovation projects including painting, kitchen and bathroom designs, built-in cupboards, paving and decking, wood / laminate flooring, tiling, plumbing, roof designs and repairs, etc. 

Whether you want tips on where to cut costs or general suggestions on how to upgrade a home, we have these 33 ideas to renovate your house on a budget

Which upgrade in your home would you put at the top of your renovation list?

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