BEGINNER’S GUIDE TO RENOVATION PART 17 : Where to spend and where to save
Without thorough planning and research, renovations can end up being incredibly money hungry things, gobbling up your savings before you have even properly got stuck in to the bulk of the project. For this reason it pays (quite literally) to consider which areas of your project you can make savings on.
Of course there is always a way of doing things on the cheap — but it is seldom the best way. This guide is designed to set out the areas of a renovation project that it is worth spending a little more on in order to ensure a high quality end result that doesn’t leave you wishing you had invested. We also suggest savings that can be made to ensure you don’t end up spending more than the project will eventually be worth.
Every home has a ceiling value — that is, the highest price it will be worth. This depends on its location, size and neighbouring properties. You really need to consider your home’s ceiling value when carrying out a renovation, particularly if you don’t plan on living in the house forever. You don’t want to find out, on trying to sell the property, that you can never make back the money you spent on the improvements you made.
