First and foremost is budget – it is important to be realistic with your budget, so you can plan accordingly.
Planning a budget for a renovation entails more than the budget set aside for the contractors. Next to the design fee, a large portion of the budget is set aside for the fittings, furniture, and equipment. Next to big ticket items like bathroom fittings, lights, appliances and AC, there are a multitude of smaller items that need to be purchased during the process of renovation.
One thing to keep in mind is that when setting a budget, we are often thinking rationally, but when it comes to actual purchases, often, the choices are emotionally based. Therefore, it’s good to plan what the requirements are and how they fit within the overall budget. It would be much better to allocate budget to items which are fixed with the home, like bathroom fittings and appliances. These are not items that you want to change too soon. We recommend start looking to mid-tier items, so there is some flexibility to shift upwards or downwards when needed. Do consider factors like durability, quality and ease of maintenance when making your final choices.
Another big spending item is soft finishing, from furniture to curtains, these costs are often higher than anticipated. And while the budgets are more flexible for FF&E, the overall costs can be up to half of the overall renovation budget. It’s best to consider the requirements of each space, such as how much seating or what appliances need to be integrated. Factor in any special features, personal taste and functionality and plan to future proof your purchases.