Happy Friday Everyone..
This week I am posting two blog posts as I am off to Prague until Monday... So excited & I will keep you all updated on my insta stories. But I wanted to be sure I left you all with a little design post :)
So I am always getting requests to chat a bit more about home renovations. Where to start, the do's the don't's and of course the finance! It is a huge task to take on a new renovation whether your home is a complete new build or you are revamping a certain area of your home and of course budget and getting that budget together is always key. So, if you don’t have a huge amount of savings to finance your projects, there are a few tips to help you manage home improvement costs on a budget. Here are 5 tips to make your home remodelling project a reality on a tight budget. Enjoy xx
#1. Is there a grant available?
It's always useful to take some time to research grants that can help you to make repairs or essential adaptations to your home. Grants are available to homeowners at the discretion of your local authority, which means that rules can differ depending on where you live. If you are reading from the UK click the link here and from Ireland click the link here to see what options are available to you. Typically, these grants are focused on improving the health of the household. You can ask for a grant to reduce risks of dampness or cold at home or improve mobility and access in your household, for instance. Unfortunately, these grants don’t include interior renovation for decor or to increase the total home value. Not every home repair or renovation project can get a grant or be postponed. So when you do need to get onto it quickly you can always look at taking on a short-term loan such as Buddy Loans, which guarantee the same payout day.
#2. Rent a room to make money
If you live in a city or touristic area, you could rent out your home or your spare room to finance future home improvement works. Airbnb is a favourite when it comes to monetising your property. You can welcome guests over a short period and help them to visit the town, for instance. It’s perfect for city visitors, but also business travellers and exchange students.
#3. Does it have to be now?
You may be determined to make the renovation project happen as soon as possible, but it’s essential to ask yourself whether it needs to happen now. Indeed, postponing your plans can help you to finance it in the long term by using your savings. I totally understand if there are a few project clients just want to get finished asap but there are a few projects I strongly advise clients to delay on if there is tight budget. So what are the kinds of projects that are worth delaying? Kitchen improvements and extensions can be postponed safely if your appliances are still in working conditions. Extensions can also be delayed, and you can help by renting out a storage room for your belongings and furniture that can’t stay at home for now as these are two home improvement areas you don't want to skimp on.
#4. The improvements are tax-deductible
Did you know that some home improvement projects are tax-deductible? Woohoo!!! The Home Renovation Incentive (HRI) scheme in Ireland could save you thousands on your new renovations and improvements. You can even receive a tax refund for small renovations like installing a new stove in your home, as far back as 4 years!
#5. Who says it has to be new?
Last but not least, you don’t need to buy everything brand new to renovate your interior. With a little bit of DIY love, you can transform your home without breaking the bank. Upcycling old furniture can seem daunting at first, but it’s a great way of prolonging the life of everyday items. Your old baby cot could become a bedside table, and tada, you’ve saved yourself a tonne of money. Here are a few of my favourite DIYer's and vintage kings and queens in Ireland that never disappoints for inspo xxx
Joanne Mooney of aproudhome.ie
Darran Heaney of oldvictoriannew.com
So, guys, I hope that has given you some tip for your new home improvement :) and have a lovely weekend :) xx
Style So Simple - Aoife x