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Before you start a DIY Project - Think Budget

When embarking on a DIY project, the first thing you want to do is jump in with a hammer and start making mess!

But this usually means you will end up shopping for the elusive "money tree".

In other words, leaping before you have planned can be very costly!

There are many questions to be asked, and these can be grouped into four areas:

Practical, Budgetary, Aesthetic and Maintenance

Budgetary Advice

Have you established how much you want to spend?

Don't just guess a figure, the easiest way to get a budget is to prepare a sketch plan and get a quantity surveyor to provide a rough estimate so you can make a realistic budget. At this stage you have somewhere to start. If it is too high, you can prioritise the things you really want to do and leave out those that were luxuries, if it was lower than you thought you can add a few luxuries or simply not spend as much.

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For example, if you were to renovate your kitchen, the new appliances could be paid off over time leaving more money to spend on the space.

Thinking of alternative ways to use your money wisely, if you were to renovate your kitchen for example, the new appliances could be paid off over time leaving more money to spend on the space.

Once you have a budget figure. For safety's sake add a contigency sum.

This covers any event that may occur, usually an unforeseeable, undesirable one! Allow 10% of the budget figure and add that on top. Keep this to one side as you may not require it, but it is best to have the finance ready, as when renovating you never know what may be hiding behind the wall linings or under the floor! You want to make sure you can finish your project.
Is there a possibility of Hire Purchase to extend your budget?

For example, if you were to renovate your kitchen, the new appliances could be paid off over time leaving more money to spend on the space.

More on Budgetary Tips >>

Aesthetic Tips

Maintenance Tips

Budgetary Tips

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