{"id":7545,"date":"2017-12-19T23:00:15","date_gmt":"2017-12-19T23:00:15","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/what-to-do-if-your-renovation-goes-over-budget\/"},"modified":"2017-12-19T23:00:15","modified_gmt":"2017-12-19T23:00:15","slug":"what-to-do-if-your-renovation-goes-over-budget","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/what-to-do-if-your-renovation-goes-over-budget\/","title":{"rendered":"What to do if your renovation goes over budget"},"content":{"rendered":"

<\/p>\n

\n

It\u2019s almost expected, these days, that renovations will take longer than you\u2019d originally planned.<\/strong><\/p>\n

But what about the cost? Calculating your renovation budget might seem straightforward, but often labour charges, breakages and other costs pile up on top of the cost of your materials.<\/p>\n

So what should you do if your renovation goes over budget?<\/p>\n

Pax Project Management director Chris Paxino says that once you realise your project is over budget \u2013 or is likely to be \u2013 you\u2019ve got some decisions to make that fall into two categories: easy and hard.<\/p>\n

Easy \u2013 switch to cheaper materials & fittings<\/h2>\n

There is a plethora of building materials<\/a> out there, all with varying styles and costs.<\/p>\n

So a quick way to save money is to return some of your more expensive items and choose ones that look similar and are of similar quality, but cost less.<\/p>\n

\u201cThings like replacing a stone or tile with a material that looks similar and costs less but doesn\u2019t compromise on quality is an easy way to cut back,\u201d Paxino says.<\/p>\n

\"Installing<\/p>\n

Replacing a stone tile with a similar material can cut down on costs. Picture: Getty<\/p>\n<\/div>\n

Easy \u2013 get additional quotes for the same materials<\/h2>\n

Buying everything from the one supplier makes sense. It\u2019ll certainly save you having to traipse around to a number of different stores as you piece together your new bathroom or kitchen.<\/p>\n

But can you get a better deal on key items from another store? Paxino says you almost always can, provided you\u2019re prepared to put in the time.<\/p>\n

\u201cYou should try to get a second or third quote for the same items by negotiating with suppliers,\u201d he says.<\/p>\n

\u201cDon\u2019t be afraid to haggle. If you tell them you can\u2019t afford their price and will look elsewhere, they\u2019ll usually knock a bit more off the price.\u201d<\/p>\n

Easy \u2013 delete the non-essentials<\/h2>\n

If you\u2019re renovating and intend to live in the property, you might have added in a few fittings or features that make the space more attractive or give it that \u2018wow\u2019 factor, but aren\u2019t essential.<\/p>\n

Paxino says that if you need to straighten up your budget, these could be the first to go.<\/p>\n

\u201cRemove details or items that you wanted to have, but don\u2019t really need or care about it. They were nice to have, but it\u2019s more important that you\u2019re able to actually finish the project.\u201d<\/p>\n

Hard \u2013 reduce the quality<\/h2>\n

As much as it might hurt not to have that $8000 Bertazzoni oven and stovetop, or marble tiling in your bathroom, if you\u2019re prepared to compromise on quality then you can help bring your budget back into the black.<\/p>\n

It might be a hard decision emotionally, but if you\u2019re already over budget, there are plenty of options out there that will do the job at a fraction of the price.<\/p>\n

\u201cThings like laminate benches in lieu of stone benchtops are easy ways to cut costs. Yes, you won\u2019t have the exact materials that you want, but again, it\u2019s better to have a cheaper finish than to not be able to afford to finish the renovation,\u201d Paxino says.<\/p>\n

\"laminate<\/p>\n

Do you really need that stone bench? Picture: Getty<\/p>\n<\/div>\n

Hard \u2013 put it on hold<\/h2>\n

This is particularly apt if you\u2019re renovating more than one part of your home \u2013 if your costs have blown out, there\u2019s nothing stopping you putting the next stage of the project on hold until you can afford it.<\/p>\n

\u201cProviding they\u2019re still functional, it\u2019s perfectly OK to look at deleting a bedroom or a bathroom from your renovation to-do list,\u201d Paxino says.<\/p>\n

\u201cYou can always pick it up and do it later once you\u2019ve been able to save up more money.\u201d<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s almost expected, these days, that renovations will take longer than you\u2019d originally planned. But what … What to do if your renovation goes over budget<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7546,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[12908,543,41,818],"class_list":["post-7545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":127280,"url":"https:\/\/amazingproperty.com.ng\/blog\/a-guide-to-home-renovation\/","url_meta":{"origin":7545,"position":0},"title":"A Guide To Home Renovation","author":"Amazing Property","date":"June 22, 2024","format":false,"excerpt":"The Ultimate Guide to Home Renovation: Tips and Tricks for a Successful Project. 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