There are over 18 million households in the UK, and in 2021, a survey from Houzz found that half
renovated their home. If you’re part of this weighty cohort and have a long list of bits and pieces
you’d love to change around your abode, one of the most important things to work out is your
budget. In this guide, we’ll take you through the all-important budget creation process: how to prioritise, use quotes to drive down the price of works, be realistic, and time renovations.

Disclaimer: This post is a collaboration

Prioritise

There are often home renovations that we NEED to do, and those we’d like to do. Deciding which of
these are more important and what can wait until a later date can help reduce how much you need
to spend all in one go.

To work out what matters most, first consider whether there are any renovations which are crucial
to your home staying upright and in good condition – structural work, electrics, plumbing etc. Then
think about the rooms you spend most time in, prioritising those which see most time (the master
bedroom, living room, or kitchen are likely up there).

Get multiple quotes

With cowboy builders ever roaming the prairie, the risk of being scammed is real. You don’t want to
pay out the nose or get poor-quality work done, so it’s important to properly research and vet the
contractors you’re hiring.

Use tools like Checkatrade, read online reviews, and ask for quotes from at least five different
tradespeople before you commit. For big jobs, ask for pictures and for extra significant projects like
extensions, consider asking for references from past customers so you’re not caught out.

Be realistic

Round up your estimates rather than down to make sure you’re prepared should something cost
more than expected. And if you’re using forms of credit like loans, credit cards, or equity release,
check and consider boosting your credit rating before you apply. Doing so might unlock better deals
– a big bonus as interest rates creep ever higher and banks restrict their lending criteria. If your
rating is low, temper your plans so you’re not caught out by expensive credit.

Spread renovations out

You don’t need to do everything at once. Not only will spreading work out help you have to save less
all in one go, it can also help the house remain somewhere you can safely and comfortably live while
work is happening. What’s more, even if you can afford to do lots of work at once, coordinating
multiple trades and tasks can be exhausting, opening the door to expensive mistakes.

What do you think is the most important thing to bear in mind when renovating your home? Let us
know in the comments.