A home refurbishment is exciting.
New space. Better layout. A fresh start.
But without a clear budget, it can quickly become stressful.
If you want your refurbishment to feel organised instead of overwhelming, you need a proper financial plan before the first builder arrives on site.
Here’s how to do it the right way.
Start With a Realistic Overall Figure
Most homeowners begin with a number they hope the project will cost.
That is the wrong approach.
Instead, speak to a professional builder early. Ask for ballpark figures based on similar projects. This gives you a realistic range, not a guess.
Refurbishment costs depend on:
- Property age
- Structural changes
- Quality of finishes
- Electrical and plumbing upgrades
- Location
Older homes usually cost more. Hidden problems are common once walls are opened.
Start with facts, not assumptions.
Break the Budget Into Categories
A proper refurbishment budget should never be one single lump sum.
Break it down into clear sections:
- Structural work
- Plumbing and electrics
- Windows and doors
- Kitchen or bathroom installation
- Flooring
- Decorating
- External works
- Professional fees
For example, decorating is often underestimated. Your painter’s labour, preparation work and materials should all be itemised properly. Skipping this detail leads to overspending later.
When each section has its own allowance, you stay in control.
Add a Contingency Fund
This is non-negotiable.
Set aside at least 10 to 15 percent of the total project cost as contingency.
Refurbishments reveal surprises:
- Damp
- Rot
- Outdated wiring
- Structural weaknesses
- Drainage issues
If you do not budget for the unexpected, you will either compromise the finish or stretch finances uncomfortably.
A contingency fund protects you from panic decisions.
Get Detailed Written Quotes
Never rely on verbal estimates.
Ask your builder for a clear written quote that explains:
- What is included
- What is excluded
- Any provisional sums
- Payment schedule
Compare quotes carefully. The cheapest price is not always the best value.
If one builder is significantly lower, check whether items like decorating, waste removal or final finishes are missing.
Clarity now prevents disputes later.
Finalise Design Choices Early
Changing your mind mid-project is one of the fastest ways to increase costs.
Upgrading tiles.
Moving walls.
Switching kitchen specifications.
Each change affects labour and materials.
Choose your finishes before work begins wherever possible. That includes flooring, kitchen units, sanitaryware and paint colours for your painter.
Decisions made early are cheaper than decisions made during construction.
Understand Payment Stages
A professional builder will structure payments in stages.
For example:
- Deposit
- Completion of structural work
- First fix electrics and plumbing
- Plastering
- Final completion
Avoid paying too much upfront. Payments should reflect progress on site.
Clear stages protect both parties and keep cash flow predictable.
Factor in Living Costs
If you need to move out during refurbishment, add:
- Temporary accommodation
- Storage
- Extra travel
- Additional utility costs
These expenses are often forgotten, but they are part of the true budget.
Plan for Quality, Not Just Cost
A refurbishment is an investment in your home.
Cutting corners can cost more long term. Cheap materials wear out faster. Poor workmanship leads to repairs.
A skilled builder and experienced trades, including a reliable painter, add value through quality finish and longevity.
Spend wisely, not cheaply.
The Smart Way to Stay in Control
Budgeting properly is not about restricting your project.
It is about planning it carefully.
If you:
Your refurbishment becomes manageable instead of stressful.
Good planning is what separates a smooth project from a financial headache.
And it always starts before the first tool is lifted.
