8-step guide to avoiding the budget blues

One of the hardest parts of renovating or building a new home is the fear of the unknown – we’ve all heard stories of renovations gone wrong or skyrocketing costs.

Before you embark upon a large project, research is key. Understanding all the potential risks – as well as the rewards – will help you create a home reno budget, stick to it, and help your family get through the renovation stress-free. Here’s how.

TIP: No matter your budget, you’ll need to include a 20–30% contingency fund. Even the best-laid plans can’t insure against hidden plumbing issues or termite damage.

TIP: Choosing a builder is not always just about cost. Select a builder you feel you’ll work well with, and you may well get a better result.

TIP: Order products early to avoid costly delays, and keep an eye out for specials or end-of-line products.

TIP: Keep your builder well informed about your budget. Keeping the lines of communication open is very important.

TIP: Three Birds Renovations recommends Humm, a buy now, pay later service – but always have a plan for how to pay it back on time.

For more budget basics, check out How to create and blitz your build or renovation budget and download our Budget Checklist.