Money Matters

4 Ways to Manage Your Renovation Budget

Spend your hard-earned money wisely with these handy hints

Photography: Vincent Coscolluela (Main Photo)

Before you embark on a makeover or renovation journey, setting a realistic budget beforehad is one of the important and crucial steps. "A budget will put a zipper on your wallet and help you manage your expectations as you create your dream home," shares interior designer Ayet San Jose-Aniag.

Here are 4 important reminders to help you keep the costs low as you work on your home project:

Be resourceful in choosing materials

Once you’ve identified what type of renovation is needed, it’s time for you to search for the right materials. Since you’re on a budget, try to double check your home and see if you have excess materials from your past home projects. See if there are pieces that you can recycle and repurpose, too.

Allocate your budget wisely

Set a budget ceiling so you can keep track of expenses. You must also allocate and divide it to the materials that you need. Consider this division: 40% for construction and labor, 30% for furniture, 20% for equipment and appliances and 10% for accessories.

Click here to learn more about how you can divide your budget.

Start with one area

You don’t have to renovate the entire house all at once. Examine the different areas and determine which one needs to be prioritized. If you’re renovating your kitchen, start with the basics like fixing electrical or plumbing fixtures before replacing your backsplashes or cabinets.

If possible, consult a professional

If you have to repaint your walls or furniture, you may want to try your hand at a couple of DIY projects. However, if it involves large areas, it's best to leave it to the pros as they know the technical nitty-gritty of the whole process. They can also help you make the most of your budget as they know where to get affordable yet quality materials.

RL Tip: It's important that you maintain an open communication with the professional that you are working with to ensure the success of your project.

More on

3 Lessons I Learned from Renovating My Condo Home

Renovation 101: Getting Started


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