Sacrifices are inevitable, no matter the budget size. Here are some strategies to help you make informed decisions and invest wisely
When planning a renovation or extension, it is natural to create a wish list of dream features to make your home more comfortable and enjoyable. However, budget constraints often mean adjusting those expectations. A friend completed a home renovation within budget but had to make compromises and lamented that a larger budget would have allowed him to do more. But the truth is that sacrifices are inevitable, no matter the budget size. The key is knowing where to spend and where to save.
I Am Not an Alcoholic: ‘I would like a non-alcoholic Guinness,’ says the man. ‘Do you want a colouring book and crayons as well?’Failing to consider these factors can result in unexpected expenses down the line. To avoid this, meticulously plan and evaluate all aspects of your project, creating a comprehensive budget that accurately reflects the scope of work and minimises the risk of unwelcome financial surprises.
Start by prioritising the most critical aspects of your renovation and tackle the rest in phases. Creating a long-term plan allows you to spread out costs and ease the financial burden. Living in the space as you complete each phase also lets you make more informed decisions about future projects.
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