It’s really easy to go off budget with renovations, and with a husband that can build anything I sometimes have to remind myself that just because he can build anything doesn’t mean that he has either time to, or that we have the budget to. It’s extremely important for us to stay on budget. I figured I should do a post about our budget, and about how we’re staying in line with it so far.
There are four big things we’re doing to keep ourselves on budget.
1. We are paying for this entire renovation ourselves with no financing. We are not rich by any means of the word, it’s taken a lot of work on our part to put our money where our mouth is. Not eat it, save it. I’m not being literal because that would just be straight up wasteful. Our budget is well under $20g for the entire house including the new deck, addition, porch, complete gut and re-layout of the original house, finishes (millwork, trim, casings, etc.) and appliances.
2. We are taking it one project at a time. We do not have all of the money we’ll need for everything at this point but we continue to save. We saved enough to do the addition and porch. Our hope is to get the area to a complete-enough place so we can move into it. It won’t be painted/decorated, etc most likely right away. We may not even have a solid wood floor in our bedroom for a while. Taking it slow.
3. We’re doing the work ourselves. I understand that not everyone can, or should, do this level of a renovation themselves. We’re fortunate enough that Andy was raised in a very hands-on environment where he was taught these things from a very young age. Doing the work ourselves will save an exorbitant amount of money.
4. Salvage salvage salvage. We’re no strangers to salvaging considering Andy built most of our current barn with the plywood and pieces from our old barn. At work, if a client has a nice piece of furniture they want to get rid of you can bet they often call Andy first. Salvaging everything we can simply saves a lot of money. If the insulation is good, salvage it. Plywood still good? You bet I’m pulling all the nails out sheet by sheet so we can either re-use it on the addition, or another project down the line. Those $15-20 dollars here and there add up. We most definitely aren’t afraid of a little extra work when it will save us a lot of money. When we pick up nails with the magnet, if I find one that is perfectly straight I set it aside. Now, I’m not sitting there inspecting every nail but if I happen to catch it, I’ll grab it.
Andy is very good with budgets and as a builder he really understands the process from negotiations on product cost, to the technical execution of the actual building process. I won’t lie and say his knowledge and know-how doesn’t help, it most definitely does. We do get some of our materials at a discount but truth be told, not by much. Salvaging materials and doing the work ourselves is the biggest help of all for our budget.
For me, the hard part for budget will be further down the line when it’s time to do the interior design. This isn’t part of our overall budget, it’s something we’ll save for separately (new couch, rugs, new mattress, etc.). It’s going to take a lot of ingenuity and creativity on my part to pull off the looks I love. If you follow me on Pinterest (link in the upper right corner of the side bar under “P”) you can tell that I have a fairly specific taste. I’m looking forward to the challenge of how to execute an updated farmhouse/cottage interior. You can bet there will be plenty of flea markets in my future and lots of crafts.
If we continue to follow a simple rule we learned in elementary school we should be just fine: “reduce, reuse, recycle”. Whether it’s saving money for the project, with actual building materials, or finding/making a specific decor item I’m pining for we can just reduce to save money for it, reuse what we have, or recycle another items to stand in for it (or to barter for the item you want!).
Salvaging our budget all comes down to one overarching principal: this project really is a true “DIY” adventure, but that’s what makes it so much fun. Why let someone else do it, when you can do it yourself?