When you come across glossy catalogues and brochures showcasing breathtakingly beautiful properties, does it ever cross your mind that you’d like your forever home to look ‘just like that’? The very thought of saving enough money to improve the look of your home might deter you from realising your dream, but it doesn’t have to always be that way!
If you’re considering a home renovation or makeover now, don’t despair. Just like every other form of spending, the best way to go about it would be through careful planning and reasonable amounts of savings each month. You’re in luck because we’re here to provide you with some insightful money-saving strategies, without sacrificing on quality!
1. Budgeting is Key
Good budgeting skills with your disposable income can really go a long way when it comes to making good decisions. Before you tear down that wall, you’d need to know how much you’re willing to spend for your home renovation activities. You should always set a realistic price range and decide how the money is going to be allotted.
The time it takes for you to save up that set amount is also a great time for you to talk to other people who’ve had renovation or makeover jobs done on their own property, so as to get a better gauge of what to expect. Set aside a contingency fund of 10% to 20% in case of unforeseen additional costs, and keep track of your budget.
2. Proper Planning
Source: Dream Stop
It’s important that once you kick-start your home beautifying project, you keep changes to a bare minimum to avoid surprise surcharges. Many people underestimate the costs and find themselves running out of money before the project is even halfway completed. If unfortunately, this happens, a renovation loan can be a quick fix to this chaos. Nobody likes a half-done home!
With that being said, for larger renovation projects, you should always seek the advice of a professional project manager, whose aim is to make your planning as seamless and painless as possible. There’s also the Internet! It’s the number one source of all the ideas and resources you’d need. Draw inspirations from an abundance of sites that can guide you on cost-saving home makeover tips (such as this one!).
3. Recycle, Reuse, Refurbish
Source: Canton, GA
Throughout the entire renovation or makeover process, you can opt to up-cycle whenever possible to minimise costs. This is not only earth-friendly but will also save you a lot of money. If you are moving, think about what can be brought over from your previous home. Not everything old has to end up in the trash, such as the tables, light fixtures, and miscellaneous décor pieces. Refurbish those that are still in good condition, and of course, functional.
Recycling and reusing is also a great way for you to differentiate your needs and wants. Many people, especially first-time homeowners, tend to buy things they don’t need simply because they get caught up in the sheer excitement of moving into a new home or having their current one revamped. It’s wiser to consider the functionality of the items you purchase, instead of getting that sleek coffee maker just because it looks fantastic in your kitchen (even though you hate caffeine). You get the point.
4. Shopping for Great Deals
Source: Canton, GA
When it comes to home décor pieces, we recommend you purchase them on your own to prevent any mark-ups from interior design firms. This allows you to have control over your budget, instead of being swayed by pretty words. However, don’t go to showrooms where the average cost of a dining table set is RM15,000 while your budget is only RM8,000. Be practical, and this saves you a lot of unnecessary heartache as well.
Don’t forget to be a frequent shopper at local home and living exhibitions. You can buy almost anything at much cheaper prices compared to the ones in retail stores. Popular home fairs in Malaysia include HOMES Home Living Exhibition and MyHome Home Furnishing Exhibition. If you don’t mind pre-owned items or those with defects, you can also get some amazing deals at second-hand stores, or online marketplaces and portals such as Mudah.my and Craigslist Malaysia. Use cash back our discount credit cards for extra savings too!
5. DIY for Minimal Tasks
Source: Brit + Co
Don’t be afraid to get creative and above all, don’t be afraid to get your hands dirty! A very big percentage of home renovation costs are in the labour. You can teach yourself a few renovation tricks through YouTube videos and how-to websites. For instance, buying raw materials for lighter tasks like paving your driveway. You can even build simple furniture on your own by using discarded pieces of wood and metal that you can obtain for free from construction sites.
While witnessing the gradual transformation of your dream home, you’ll also get a sense of satisfaction from doing things yourself. However, unless you are trained or have experience at certain tasks, never attempt to do things such as electrical works, plumbing, roofing or gas pipes installation. You wouldn’t want to pay a hefty price for a contractor to redo everything, now would you?
6. Comparison of Quotes
Source: Tv Internet Vergelijken
When hunting for a property, you compare prices before deciding on one right? The same applies to home renovation and makeover services; check out various service providers and always compare their prices to ensure you don’t come out on the losing end. Better yet, ask for their portfolios and past customer reviews, thus providing you with a better feel of their workmanship.
Talk to your contractors for things you need to look out for, and ensure all the specifications are laid out in black and white to avoid possible hidden costs. It’s not so hard to get things done on a tight budget – if you’re prepared to negotiate!
Don’t be afraid to bargain-hunt and discuss costs, you may be surprised to find that most of the service providers would be happy to give you certain discounts. Just ensure that the discounts don’t lead to some crucial work being omitted. On top of that, if certain purchases are not urgent, you might want to wait until the items go on sale.
7. Professional Assistance
Professional doesn’t always equal pricey. You can still shop around for budget-friendly professionals which include movers, interior designers, contractors and handymen. Ask around and make sure that the companies you deal with are reputable and with a good track record — Kaodim is one of them. You’ll never find yourself stuck with complications from home improvement works.
In addition, choosing to renovate or makeover everything at one-go will mean that in the long-run, you not only save on costs, but on time too. As such, it’ll be a wiser decision to call in the professionals to ensure everything is laid out and executed smoothly.
The very idea of renovating and giving your living space that much-needed makeover isn’t as far away as you once thought. While it can be tricky at times, it doesn’t have to burn a hole in your wallet or be any less fun! From choosing the right service provider down to the perfect furniture piece, with the help of dedicated professionals, that breathtakingly beautiful home is just a step away!
This article is brought to you by Loanstreet.com.my, Malaysia’s leading independent loan comparison website.