London is well-known for its incredible entertainment scene and extensive array of venues to explore. From museums to art galleries, sports stadiums to live music venues, there’s something for everyone in the UK’s capital, which is why it can be an amazing place to raise a family.
Whether you live in the city centre, or more likely, in a family-friendly suburb just outside the city, the other thing you’ll definitely know about London is how expensive it can be.
While London might have dropped out of the list of the world’s most expensive cities to build in, it’s still incredibly expensive, and inflation has pushed material and labour costs up over recent months. So, if you’re planning any sort of home renovation project, you need to find ways to keep your costs down.
That doesn’t mean that your project won’t be fun, especially if you’re transforming an older property into your dream family home. To help you create your dream property that will hopefully be your forever home, at the right price, here are our tips on how to cut renovation costs without compromising on the quality of your London renovation project.
Know Your Limitations
The first step is to understand what you can and can’t do to your property. London house prices are sky high, so many families rent in the city, which means you’re severely limited to what you can and can’t do. You’ll need to speak to your landlord about any major renovations you’d like them to undertake, as it’s their responsibility and right. You can make small repairs and changes to the house’s appearance yourself, and rearrange your furniture, but you need to talk to your landlord before you make any changes to their property.
If you’re lucky enough to own a home in London, you need to know what planning permission you need for any aspects of your project. Some minor changes are considered a permitted development, such as adding a small structure like a conservatory or converting your loft.
Larger projects, such as altering the structure of the property or adding to it significantly, might require planning permission. If your property is a listed building, you may also need to get permission from your local authority to make even small changes. So, check what you can and can’t do, and what permissions you need, before you start.
Work Out A Budget
Every individual household has a different level of disposable income, so you need to figure out how much you can afford to spend on the renovation. Be realistic and leave room for unexpected expenses, as new costs often pop up during any renovation project. If you’re unsure about costs, get rough quotes for everything you’ll definitely need before you start.
For example, if you’re rewiring the property or adding major electrical fixtures, then you’ll need an electrical installation condition report (EICR). Learn about the costs of an EICR certificate in London from leading specialists Hexo Electrical Testing. You can then make an accurate budget and understand the rough costs involved in your project.
Be Prepared To Negotiate Prices
Rough quotes based on industry averages are ideal for your budget, but once you’ve started the project, you can get customised prices based on how much work needs to be done. When you have a quote, be open to negotiating prices and terms with potential service providers. You may be able to reduce costs by discussing alternative materials, project phasing, or bundling multiple services.
Also, in some cases, you might be able to reduce the price of the work done on your house by advertising the services of the company that did it. We’ve all driven past a house with an advert for some landscaper or electrician on it at some point, and these ads can knock money off your bill, particularly if your home is located on a prominent thoroughfare. Ask any potential contractors if they offer these schemes and what discount you could get.
Break The Project Into Stages
Like almost any project, when renovating your home, you should try to split things up into more manageable chunks, rather than planning and paying for everything in one go. This approach allows you to control costs, adapt to changing circumstances, and ultimately create your dream family home while staying within your budget. Careful planning and disciplined execution are key to the success of this approach.
Begin by identifying the different phases or components of your renovation project. These could include structural work, electrical and plumbing updates, interior finishes, landscaping, or any other major aspects of the renovation. Then, prioritise the most important aspects of the project, and work out how you can stagger each element of the renovation. You can then split the cost across several months, while ensuring that your home is still fit to live in, so you don’t have to pay extra for alternative accommodation for you and your family.
Shop Around For Furniture And Fittings
Buying new furniture, furnishings and fittings for your refurbished home can be expensive, especially if you want to embrace the latest interior design trends. Thankfully, there are some simple ways to save money on new items. The easiest approach is to shop around and have a look at various suppliers.
Visit some secondhand stores and cheap stores, like stalls on the Portobello Market or the flea market on Vinegar Yard, to see if you can find deals on barely-used or refurbished items that could save you a lot of money.
If you spot anything that you like from a new store, try to see if you can find the same item for cheaper from discount stores or on sale from a different provider. These might seem like small victories, but these savings can soon add up, especially if you’re renovating a large house and buying expensive pieces of furniture like sofas and bookcases.
Research Where To Save And Where To Spend
Some elements of your home renovation project are worth saving money on, like furniture and paint, but there are parts of the renovation that you should never scrimp on. Some fixtures, like bathroom fittings and kitchen appliances, are built to last for many years, so you should make sure you invest in the items that you’ll use the most.
It’s not just products you need to consider when budgeting: you also need to consider the parts of the project you can do yourself, and the ones that need professional help. Some projects aren’t suitable for inexperienced individuals, as they require a lot of skill and specialist equipment.
To Sum Up
Anyone who’s ever renovated a house knows how stressful the process can be. When you have children, and are on a strict budget, it can be even harder to manage the project and ensure it comes in at the right budget, looks great and gives you everything you’ve always wanted.
By following these steps and staying diligent throughout the renovation process, you can reduce costs and turn your London property into the dream family home that you can be proud of for the rest of your life.
Luciana joined our team as a mum blogger in 2020. A dedicated mum to a lively daughter and a dog, Luna, Luciana brings authenticity and passion to every post. Her expertise in parenting and lifestyle topics offers practical, relatable advice for real-life situations.