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3 Financial Home Renovation Myths

Are you planning to renovate? You probably know that budgeting is key for avoiding unpleasant surprises.

These 3 financial myths could help you effectively plan your renovation budget:


1- You Will Always Save By Doing the Work Yourself

It is true that hiring workers is expensive! But don’t forget that your time is also precious… and has a cost! During renovation projects, it is common to feel overwhelmed and short on time. Your quality of life is priceless. If you feel overloaded, do not hesitate to hire workers.

However, if you plan to do everything yourself, here is a tip: to avoid exhausting yourself and wasting time and money, be sure to stick to a pre-established schedule!


2- There Is No Need for Professional Tools

Have you decided to do as much as possible on your own? Don’t forget the old saying “a bad workman blames his tools”!

You don’t need to purchase expensive, state-of-the-art equipment, but it is important that you buy or rent tools that will allow you to carry out your tasks efficiently.

It’s incredible how many individuals insist on depriving themselves of inexpensive tools that have the potential to significantly speed up the work! It may seem futile to dwell on the difference, but when it comes to major work, it is extremely profitable to avoid improvising by investing a portion of your renovation budget in the necessary tools for the job.

Keep in mind that materials are so expensive nowadays; damaging them due to the lack of proper equipment would be unfortunate. Not to mention the time wasted returning to the hardware store with the fear of said material now being out of stock.


3- Prioritize Cheap Materials to Save Money

On the contrary, be sure to avoid low-quality materials! Sometimes these require much more installation, extra products, or specialized tools. Additionally, we recommend making an informed calculation before starting a renovation project that will involve large quantities of a certain material.

For example, to renovate a surface area, such as a ceiling or wall, paneling or tongue and groove boards can be installed quickly. Although these materials are more expensive than traditional gypsum, they save time. The gypsum would need to be sanded, then painted with an undercoat before applying the desired color.

When adding up all these steps, it is clear that simplicity saves time and money.

Happy planning!