Thinking of renovating your home? Tips for home improvement on a budget

Home renovations are one of the most overwhelming yet stimulating times in one’s life. 

On the one hand, you are stressed out because you’re thinking about your finances and how you’re going to be able to afford improvements. But then, on the other hand, you’re also inspired as you view different home remodelling designs on your social media feed. 

Trying to makeover your home can seem like a daunting task when you think about the amount of money (and time) you’re going to spend. However, there are tips on how to improve your home on a budget. Read below for some useful tips for your planning. 

Know where you plan on renovating

The first step to having the home of your dreams is knowing where to start with your renovations. Having a detailed plan will make things easier and attainable within your time frame. For example, if you want to start with the kitchen, choose a theme, do your research on pricing and find an idea that fits your budget. Completing one big project is better than doing bits and pieces. Not only will it stress you out, but it will also take the fun out of it.

Have an idea of the style you want 

The next step would be to decide on the style you’re interested in. For example, if you’re interested in having a modern design for your home, start looking on Instagram and Pinterest for ideas. Not only will this help you find the style you’re looking for, but it will help you curate your new home on a budget. If all your ideas are on your smartphone, you can travel around and look for stores that have a sale or offer affordable, quality pieces. 

Always keep in mind that this part will take time, and you need to be patient. This is mainly because you are on a budget, and; therefore, cannot take the first item you see on the shelve. Find at least three affordable shops, and then compare their prices. 

Create a budget

You may be wondering why creating a budget isn’t the first step. The reason behind this is because you need to have an idea of what you’re looking for first. Once you have an idea,  the prices of those items will guide you in making a realistic decision on your budget. 

If you decide to draw up a budget in the beginning, the chances are that you might have under-estimated the price of furniture or labour costs. You also need to keep in mind that there is inflation, and the price of the furniture will differ to the last time you bought. 

Once you have created a budget, you can consider getting a personal loan for your home improvements. This is an option that can assist you in creating the home you have always envisioned for yourself. Renovations are expensive, and it can be difficult to finance it alone. 

With a loan amount, you can purchase all the things you need at once, and pay it back at a later stage. This will put you at ease, knowing that you have the help for your renovations. It; however, does not mean that you don’t need to have a budget. Your savings and the amount you will receive after being pre-selected for finance will guide your spendings. 

Your budget will also ensure that you don’t waste money on items you don’t need. When looking for finance, you can always find a personal loan calculator that will give you a breakdown of how much you will need to repay during your term. This is helpful as it will allow you to have an idea of what your interest rate is, and how much your monthly instalments are. Keep in mind that this is only a guideline. There are other factors involved when it comes to getting a low-interest rate like your credit score

Clean out your home 

Before you plan on any renovations, you need to clean up your home. This will give you an idea of what items need to be repurchased and what items you still have. Once you have a list of the items that need to be bought, you can look at the ones you have and decide what you’re going to do with them. Will you be giving them away or will you re-use them? Re-using is an effective way to save money, allowing you to use the money on something else. So, if possible, always opt to re-use items instead of throwing them away.

Prioritise the important renovations first 

Once you have a plan of what you want to, the style and budget sorted, its time to prioritise your needs. This will help eliminate the important changes you need to make. If you have a tight budget, start with your needs. Your needs can change the entire look of your home.

For example, if you really needed to renovate your bathroom, that would be the best place to start. Although it may seem like one improvement, it still qualifies as one big task that has been accomplished. Planning your dream home doesn’t need to be a daunting task. If you plan carefully, you will be able to recreate the house of your dreams with as little financial stress as possible.