Owning your own home is a goal for many Australians, and once you’ve made it there it’s understandable that you want to look after it the best you can! Maybe your ideal property was a bit of a fixer-upper because you’re a keen renovator, or you just love making it even more your own.
We’ve compiled our favourite tips on how to stick to your budget without compromising on your renovation dreams!
Set Your Budget
The first step to committing to a budget is creating it! It might seem like the most boring part of your renovation adventure, but designing a realistic budget will set you up for success. Depending on your style, you may like to go into every detail right down to the furnishings you’ve picked out. Or, your budget may be a little more free-spirited, with just your set amounts for each element of the job at hand. No matter the project or your budgeting style, we recommend leaving a section of your budget for ‘emergencies’. That way, if something doesn’t look as good as you thought or circumstances change, you can be flexible. If you don’t need to use it, you’ll be left with bonus cash you can use to save, or splurge on some extras.
Make Friends with D.I.Y
Where possible, D.I.Y will be your key to keeping costs down. It’s really important to leave jobs like electricity and plumbing to the professionals, both for your safety and the integrity of the work. However, consider where you might be able to have some fun with doing the work yourself – painting can be a really fun way to spend a few (or more!) days. You get the satisfaction of a job well done, and your home will bear the marks of those memories forever. Other D.I.Y projects could include making your own planter box, hanging some fresh new shelving, or replacing old flooring. Our most important tip in D.I.Y is to know your skill level, do some extra research on your specific project, and have fun!
Consider purchasing things second-hand instead of brand new. There is a plethora of unused furniture and materials out there just waiting to find a new home! If you love scouring your local op-shops, start there. This point is especially recommended if you love vintage style, or unique pieces. If you’re more of an online shopper, eBay or Gumtree can be a great place to start. Not only will you save some money, you’ll be helping to save the environment as well by keeping perfectly good items out of landfill!
Be a Savvy Consumer
It can be really tempting to try and shop the best deals on things like tiles, fixtures, plumbing supplies, etc. However, tradesmen are often able to get these items at a cheaper price than even the best individual deal. Consult with a professional first to make sure you’re not missing out!
If you’d like to boost your budget, Rapid Loans can help put your dream renovations in reach with personal loans ranging from $2,001 to $40,000. Especially if you’re mid-renovation, our commitment to a rapid response means that, if your application meets every step, you could have the funds in your bank account within 24 hours of approval!
If this sounds like the right option for you, visit our website or call our dedicated team on 1300 727 431 to discuss your personal loan options.
All loans are subject to an approval process and suitability assessment.
This is purely an opinion piece and should not be used as a sole source of guidance.