The Most Bang! for your $Buck

At the risk of stating the bleeding obvious, renovations cost a lot of money. But some renos cost waaaaaaay more than others. What’s more, it is so common for them to go well over budget it’s almost a joke.

Except that spending money you don’t really have isn’t a joke.

I’m a bit of a tight arse (let’s be honest!), and when I renovated my own place, I had a limited budget to play with. Knowing where to spend up and where to be frugal was really important for me. I didn’t want to over-capitalise (ie: spend more money than I’d ever see a return on or get equal enjoyment from).

I’m here to share those insights with you, so YOU can also save money! But first, this all assumes you’re project managing your own renovation – whether DIY or you’re hiring individual trades – and have some level of control over material choices and purchases. If not, say good-bye to your hard earned cash. Just another reason why I prefer to take the reins.


My Experience: Throughout this blog I’ll provide info about my own experiences for each topic when renovating my own home.

Here are the Stats you’re dying to know:

• One bedroom unit incl. living room, kitchen, bathroom, foyer and balcony (6 ‘rooms’ cosmetic renovation – not structural)
  
• Mostly DIY and took approx. one year including prep work through to staging/interior design
  
• Estimated cost if I’d hired a renovation company: $30k (and probably a month max)
  
• Maximum Cash to Splash: $20,000
  
• Budget: It changed throughout the renovation as costs became clearer, but I aimed to spend about $15,000 plus my own labour
  
• Total expenditure: Including trades, materials, tools, consumables, and delivery fees: ~$13,000 - coming in UNDER budget by around 15%!!
  
• Approximate Value Added: ~$30,000
  

1. The Biggest Two Things You Need to Save Money

1. Time! They say that in life we have either time or money. If you want to snatch up bargains, you’ll need time to shop around (either online or in person) and patience to wait for what you want. I recommend starting the process early.
2. Storage space. All this stuff takes up loads of space, so you’ll need to find a place to store it. You could pay for storage (starts at around $120/month) but work out whether that’ll actually lead to long term savings. Remember it’s not just the items, but also all your tools and consumable materials.
   

Where possible, order and pay for things, but arrange delivery/collection just in time – when you’re actually ready to install. It’s not always possible, but better to use their storage space if you can!

My Experience: The renovation took me over a year, and I started buying materials about 3 months before I picked up a tool. Of my ~900 hours renovating, at least 1/3 or more was devoted to sourcing materials. I stored stuff on-site in the property, plus I had access to two storage rooms. There was a lot of moving stuff around, and while living in the property, it did get very tedious!     

2. Tools

Having the right tools for the job will exponentially increase your chances of success. But tools are really expensive. I recommend to buy only what you really need and will get great use out of. Here are some key tips:

• Buy the best quality you can afford. Ozito is rubbish. It’ll probably break the second time you use it! Ryobi is a decent DIYer brand, but if you can spend a little more, do. Remember that you can always resell them, but there’s no market for low-quality tools!
  
• Choose one brand and stick to it. This is especially true if you’re using cordless because the batteries are super expensive and you want to be able to interchange them between tools. This also allows you to buy ‘skin’ only (ie: the tool without battery), which saves money.
  
• Corded tools will be much cheaper, and generally have better overall performance, especially for heavy applications like sawing harder woods and masonry drilling.
  
• You can buy second-hand tools, but do be aware there is a significant black market in stolen goods.
  
• Borrow!! There are Tool Share Libraries around, neighbours, friends, and DIY communities where you can loan tools. People can be funny about loaning tools (especially power tools), but many people are quite happy to loan out something collecting dust (and sometimes even give them away!). Also, use commercial services to loan bigger items. Bunnings offers a decent range of loan items, but Kennards and Coates are two major hire shops.
    

My Experience: I went with Makita after a lot of research, which is a great mid-range brand that many professionals use (especially carpenters). I bought from a few places,including Total Tools, and managed to score great deals on combo kits and redemption offers – again, I spent the time shopping around and patiently waited for sale periods. Because I was starting a handywoman business, buying tools was an investment, and I spent over $1500 on tools alone, including hand and power tools, replacement blades etc in addition to the tools I already owned. I hired a 600mm tile cutter, and I loaned a circular saw and dropsaw at various times.    

3. Where to Shop

Around! Shop around! If you want to save money, you need to resist the urge to just go to big retailers like Bunnings and Ikea for everything. They’re convenient, and sometimes they have decent pricing, but don’t be fooled into thinking they’re the cheapest option, especially for the quality of item.

There are loads of distributors which sell direct to the public which are a fantastic option. They often have leftovers and seconds, which is perfect when you only need a fairly small quantity. You’ll save a TONNE!!

Specialist retailers like Reece Plumbing, Beacon Lighting etc are good for advice. They’re not actually plumbers or electricians, but usually the staff do have good knowledge, and they’re happy to assist, even if you don’t buy anything
much.

Other small businesses, such as timber yards and tile shops, are always experts in their field, and offer a high level of service and usually reasonable prices.

My Experience: While I did shop loads at Bunnings and Reece, I also got a lot of materials from Western Distributors, Urban Salvage, and Keables, as well as places like Renovator's Paradise.

My top tip when shopping, especially retail, is that many building-related places have very liberal returns policies. Just keep your receipts and buy everything you think you’ll need. It saves you a second/third trip, you can ‘try out’ something to see if it’ll work or look right, and you can simply take it back at the end if not.

My Experience: I legitimately made around 30 returns and even more items! 24 of them were to Bunnings, and the others were to Ikea and Spotlight.

The BEST Place to Shop

Online! I don’t mean Amazon and Ebay. I am talking about Facebook Marketplace, local groups and renovation forums, Gumtree, and the like. People accidentally over-buy, do clear outs of the garage, do demolitions, or upgrade every few years. Their trash is definitely your treasure! You can pick up so much stuff for free or very reasonably priced, from tiles to taps to full kitchens!

The upside, apart from saving money, is think of the sustainability brownie points (and bragging rights) you’ll earn!

The downside is coordinating it all and travelling to collect, plus not being able to return it. But you can save literally thousands of dollars if you have the time to trawl through regularly to see what’s available.

My Experience: After Bunnings, I spent the most buying from other people online, at a garage sale and op shops, not to mention all the free stuff! I got the perfect light fittings, a rainhead shower at a third of the price, a near new oven still under warranty, a fancy unused vanity basin for a bargain price from a builder, some beautiful feature tiles….and best of all, the timber slabs for my kitchen bench top PLUS extra pieces for 5 shelves from someone else’s house!

4. Trade Discounts

A lot of the larger retailers of building supplies and tools offer pretty liberal ‘trade’ programs. All you need is an ABN and you can apply to get discounts. For example, Bunnings has PowerPass which offers a 5% discount on many items. It’s not earth shattering, but you’ve also got literally nothing to lose. Plus the digital receipt function is very helpful for all those returns!

You can also ask your plumber and electrician to buy items on their trade account at specialist stores. Not everyone will agree to it, but many will.

My Experience: I spent over $4000 in Bunnings, so even with just a 5% discount, I saved around $250.
 

5. What to Renovate

Or what not to renovate. This question will probably be the biggest factor in saving heaps or spending big.

Really it comes down to why you’re renovating. Is it to improve the liveability for your family? To sell? To rent out short or long term? These reasons will require a different level of investment, and therefore will guide you with what work to do, and what to leave as is.

Make an assessment of needs versus wants, must-haves versus nice-to-haves, and good enough to keep versus get-it-out!  

Then STICK TO THE SCOPE!!

Once you start (and even during the research phase), it’s super easy to get distracted by all the things you could do. Making a plan and sticking to it as much as possible (allowing for ‘reno surprises’) is genuinely one of the most sound cost saving initiatives you can rely on.

The Different Types of Renovations

• Cosmetic renovations are obviously lower cost. They improve the appearance and functionality of the space, without impacting the actual layout. But even within ‘cosmetic’ updates, there is variability.
  
• Are you moving plumbing services, adding lighting (or upgrading to current standards and codes)? If you rip out the kitchen cabinets – carcasses and all – as opposed to replacing door fronts or just the bench top, you’ll be adding to the level of renovation, including the trades and materials needed, and obviously the cost.
  
• Structural renovations could mean removing a wall to open up a space, through to adding a powder room or an entire wing! Whether a wall is load-bearing or not may be the difference between a structural or non-structural renovation. Knowing the difference will usually require specialist advice.
  
• Major structural renovations usually means demolition work which means permits, and increasing your footprint usually means permits and engineers. Plus, if the cost of your project exceeds $16,000, you must legally hire a registered builder.
  

My Top 5 things to renovate to get the most bang for your buck:

1. Painting! Include doors and architraves
   
2. Tapware, including showerhead
   
3. Surfaces, including kitchen bench and vanity, plus Splashbacks
   
4. Window furnishings (curtains etc)
   
5. Flooring (it can get expensive, but old carpet, for example, is gross and carries all manner of bugs and filth)
   

My Experience: I did a full cosmetic renovation, but some of the big ticket items I didn’t do (but seriously contemplated) included 1.Removing base cabinets and vanity 2. Reconfiguring sink plumbing from wall to bench top or adding a dishwasher 3. Changing the flooring in the living area and foyer 4. Upgrading the bath tub or converting to a walk-in shower 5. Moving the toilet pan and changing to a more common style 6. I didn’t duct the range and instead got a high quality recirculating unit with carbon filters.   

6. Where to Spend Up

The kitchen. Seriously. Usually followed by the bathroom. These two areas are the locations most people feel are the places they don’t want to compromise. Plus, they’re the spaces with the most services – water and electrics.

The layout of the kitchen must be practical, and depending on the era of the original build, it just may not work for a modern household. You’ll probably want more storage and new appliances. Extra lighting. A fairly modest kitchen reno in a smaller space can easily cost $20k alone.

Bathrooms are becoming more lux. If you have a combined toilet/bathroom, separating them out may be called for. Freestanding bath tubs are popular if you have the space, and floor to ceiling tiles are where it’s at right now. It’ll cost a bomb!

That’s not to say there aren’t savings to be made. Flatpack kitchens are a great option. Get end of run/last season tiles from a distributor. Go to bargain appliance outlets selling items with minor scratches and dents. Buy the marble bench top somebody is getting rid of in their own reno and get it cut to size.

My Experience: The Kitchen cost just under half the total spend of my renovation. ‘Throughout’ (ie: multiple rooms) approx a quarter of the total, the Bedroom about 10%, and the Bathroom surprisingly only about 8%. I saved money by basically employing all the tips in this article, and by avoiding having to employ contractors to do a lot of the work. It meant compromises, but that’s what smart renovating is all about!

7. When to DIY versus Using Trades

Other people’s labour is by far the biggest cost. If you hire contractors to do your renovation, this will easily double your costs. In fact, the way to estimate a budget is to research material costs, double it (for labour), and add a 10% buffer.

One of the main reasons my renovation was so cheap is because I did almost all of it myself. This equated to a little over 900 hours including project management, research, sourcing and labour over about a year. Not everyone has that much time to devote to a renovation.

On the other hand, can you do a good enough job that you’ll be satisfied with the result? Possibly, but maybe not. Apart from the time spent doing the thing (and possibly fixing the thing when you don't do it right the first time!), you also need to learn to do the thing. It’s a steep curve and you’ll get it wrong. BUT, it is an investment in yourself, and nobody can ever take away the skills and experience you gained along the way. Not to mention your confidence! That's money/time well spent in my opinion.     

Of course, you absolutely cannot do electrical or complex plumbing work yourself. Definitely leave that to the experts and get your compliance certificates.

My Experience: I did mostly D.I.Y, except hiring 1. Electrician 2. Plasterer for kitchen ceiling 3. Plumber (I did internal works, but needed a plumber due to an issue with external isolation valve), 4. Glazier 5. Carpet installer, plus the help of two carpenter friends for skirting and bench top installation. The cost to hire trades was approx 5% of my total spend, or $2500, not including favours from those tradie mates. I also did a certificate in Building & Construction, and started a pre-apprenticeship in carpentry, woodworking and other classes, so I really invested in my own education, and used it to launch a handywoman business.    
 

8. Don’t forget to budget for…..

• Contingencies – things are going to go wrong. You’ll definitely have a 'reno surprise' (unseen/hidden things someone did in the past that affect how to tackle it going forward). Maybe you discover asbestos. Keep 10% of the total budget (as a minimum) in the kitty for this stuff.
• Rubbish removal – if you’re putting stuff in you’ll almost definitely be taking stuff out. Council hard waste rarely allows you to dispose of it with them, and some stuff (like paint) requires specialist disposal. Allow for a skip ($400+), or find out where and how much it costs to take stuff to the tip. Just beware that they’ll charge extra or outright forbid many items.
• Splurge funds - Maybe you decide to splurge on the claw foot bath. Instead of breaking the bank, keep some money aside from your budget for great finds you decide later you absolutely must have. Planning for it in advance ensures you can afford it. It’s easy to think it’s a small amount in the grand scheme of things when you’re in spending mode, but you’ll be surprised how quickly $100 here and $300 there adds up. Suddenly you’re $10k over budget and still have to pay your trades!
  

My Experience: I spent only $210 on taking rubbish to the tip in the end (I made sure the plasterer and carpet layer took their waste with them). I had a 20% contingency budget, but in fact I didn’t really have anything major crop up. Coincidentally during my reno, my isolation valve for water to flow into the unit broke, so I had to pay about $500 for plumbers to sort it out, which was an unexpected expense.  
 

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