House renovation projects have remained popular amidst hard times. They have withstood the difficult economic upheavals of the past couple of years. Irrespective of whether you are looking to sell your property or increase its value, renovation is a smart choice.
Contrary to popular belief renovation need not be expensive. You can achieve improvements at a low cost and still boost your home’s value. Here are some money-saving tips:
Give A Facelift
A fresh coat of paint can make a big difference to your home. The cost is not high but the new paint instantly improves the appearance. Painting the exterior alone will cost less.
The cost of painting a three-bedroom house ranges from £850 to £1,500. You may have to pay more if there is scaffolding and other additional brickwork or paintwork.
Renovating bathrooms in London is an expensive affair, but with sites like Letta London you can cut down the cost. The luxury bathroom store offers affordable deals on all essential bathroom products.
The cost of renovation is high when you need to move a bathroom. Reorganising the electrical wiring, plumbing, and pipes is more in a relocation. You can reduce the cost by choosing the proper builders. Building a stud wall with a door can cost around £800.
Making improvements in the décor is the common renovation work. But some upgrades cost less and still add value to your home. A boiler upgrade is one such project. By spending around £2,500 on buying a new boiler your home value can go up by £9,000.
According to property experts, such upgrades will give you good returns if you want to sell. Prospective buyers will know that the property is well-maintained. Further, the upgrade can lower energy costs and save money in the long term.
Minimise Lighting Expenses
Proper lighting and ventilation add value to a property. They make the space look larger and more appealing. A prospective buyer will find the house worth investing in. Among the various improvements, adding lighting to the property creates the most impact.
Adding windows that extend to the full height of a room or installing skylights will increase the lighting. You can expect to spend £450/sqm for the basic model skylight.
The cost can increase to £2,500/sqm for larger electronic models. One popular skylight addition in homes is installing it over the shower in a loft conversion model. For full-height windows, the cost ranges from £700 to £2,500/sqm.
Pay In Cash
A renovation mortgage is more expensive than a regular mortgage. It is wise to pay in cash for a renovation project. You can save money on interest when you take a loan or pay for it with your credit card. If you intend to sell the property after renovation, taking a loan is a financially sound choice. But paying in cash is the right way to cut costs.
Smart Home Renovation
Adding smart home gadgets to your property is an excellent way to increase its value. Some additions that are popular among UK residents are wireless security cameras, Bluetooth speakers, sensor lights, and more. The additions make your home modern and highly functional.
Smart gadgets are not sought after just for the convenience they offer. They can save you money too. With smart heating and lighting devices, you can save power consumption.
One way to make the additions increase the value of the house is to add them when you plan your renovation. This will help in reducing the cost of installing them later. For instance, inbuilt sockets for ethernet or placement of wall studs for lighting need to be included in the planning to reduce costs.
The cost of adding sensors, cameras, and lighting can be done by spending a minimum of £100. But a smart home security setup will be expensive and starts from £400.
One effective way to minimise costs is to do it yourself. You can get help from the online guides for drywalling or laying tiles if you are skilled enough. But other odd jobs are present that can reduce the cost.
You can prepare the walls before the painting crew arrives. The preparation saves an hour or more work for the crew which helps you reduce the amount you pay to the workmen.
Using smart and easy improvements it is possible to renovate your home without overshooting your budget. As explained by our experts, there are many things you can do to reduce renovation costs without compromising on the quality of work.
Reusing materials, balancing low-end and high-end building materials, and hiring professional assistance are ways that can further limit the amount you spend. When you can avoid making the big renovations like removing or adding a wall, or installing bathtubs and sinks, you can keep the costs low.