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5 Tips For Renovating Your Apartment Cheaply

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home renovation

If you´re thinking about renovating your apartment, here are five handy tips you should consider.

When it comes to renovating your apartment, you´ve probably been told it´s expensive, time-consuming and, that in order for it to look professional, you need to hire tradespeople. However, this is far from the truth. Find out Ferratum's top tips for maximising your home on a budget.   

1. First Ask Why

You should first think about the purpose of the renovation and the desired end-result. Is it to make it more attractive to resell or to rent, or is it for your own living and enjoyment? This will allow you to determine whether the renovation is a short-term or long-term investment.  

If the purpose is to rent or to resell, it would be wise to spend less on materials, labour and furnishings. After all, your goal is the maximum return on investment.  

However, if the apartment and renovations are for your own enjoyment, you can afford to spend more on furnishings but still keep expenses down by “shopping around” as well as do some of the renovations yourselves. 

2. Then Ask Around

Chances are some of your friends or someone in your family has renovated their house or apartment. Although prices may have changed a little since they renovated their place, they may still be in touch with their contractors and be able to recommend professionals who can do quality work within budget and on time. 

Don´t forget to ask your friends and extended network for help too. Most people are willing to lend a helping hand and do some heavy lifting in exchange for a few beers or dinner.  

A combination of hiring contractors and using the help from friends can save you a fortune and get the job done exactly as you hoped. 

3. DIY...IYC (Do It Yourself...If You Can

For anything other than electrical work, DYI can often be the best option. After all, you know exactly what you´re both looking for and can be in control of your time and budget.  

When it comes to sanding floors, painting walls or installing shelves, you may surprise yourself to find just how handy you can be with some basic tools.  

If there is something you think you can do, do it and save money in the process. 

4. Be Stylish While Staying Within Budget

One of the biggest expenses when it comes to renovation is furnishing your place. The truth is however, you don´t need designer brands to make your apartment look stylish.  

When browsing through magazines for style ideas, if you see designer made light fittings, lamps, tables, or accessories, know that with a little digging you can almost certainly find a non-designer made products in that very style at a fraction of the cost.  

A good general rule to follow is to keep things simple; don´t overbuy and don´t over clutter. Keeping your apartment clean, spacious and simple can go a long way in making your apartment look stylish. 

5. The 3xRE Principle

REcycle, REdesign, REuse – the 3Rs rule will come in handy when decorating the interior.  

Don´t feel you need to purchase new items. You can buy recycled and refurbished furniture much cheaper and often it can give your apartment a more individual look and feel.  

This same rule applies to household appliances – look at purchasing used items. As always, be careful, however, when purchasing used electronic items.  

Best of luck with your renovations! 

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Representative example: APR 1270% if borrowing £400 for 4 months. Interest rate: 292% p.a. (fixed). Total amount repayable: £665.48 by four instalments of £166.37. Maximum representative APR: 1604% if full loan repaid after 7 days.