The 30 Rule for Home Renovation: Innovate Your Home Smartly

home renovation

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Giving your home a fresh look doesn’t necessarily mean you have to overspend. How can it be possible? Well, the 30 rule for home renovation is your key to a wisely planned home renovation journey without any financial risk. Let me tell you how you can do it:

How the 30 Rule for House Renovation Works?

This rule is crucial for achieving a valuable home renovation within a logical, fixed budget. Simply, follow the steps below to apply this rule:

Determine your home’s current value and know what it is worth. For example: 100,000$

Calculate your maximum house renovation budget as 30% of your home’s total value. For example: (100,000 x 0.3 = 30,000$)

Consider planning your home renovations within the 30% budget as your max budget, which in this example is 30,000$.

Don’t forget to set aside 10-15% of the 30% budget for unexpected expenses, such as changes in market prices or problems that need to be solved before the renovation.

Is the 30 Rule Your Home Renovation Game-Changer?

The 30 rule isn’t a strict law, but it’s a starting point where you can adjust your budget considering your renovation needs and your personal finances while avoiding overspending and unnecessary expenses.

This rule can help you prioritise your renovation goals wisely based on your current financial situation, your home’s value, and your personal preferences, along with the market trends.

Maximise Gains with the 30 Rule

You can maximise the value of this rule by focusing on investing in certain areas of your home that will provide you the most return compared to the cost, such as the kitchen with HPL cabinets and cabinet doors, bathrooms, and living room.

During your renovation journey, you need to consider investing in the long-term benefits of your projects. For example, renovating your kitchen countertops and cabinets will increase your property value and give your kitchen a fresh look too.

Another way to enhance your property value while renovating is by investing in improving the exterior features of your house, such as the windows, entryways, and other elements. Additionally, you can invest in high-quality lighting types to enhance the appeal of your home.

Top Cost-Cutting Tips to Renovate Smarter

You can apply the 30 rule of home renovation aligned with these strategies to get the best results at the best prices:

Define your priorities and focus on essential renovations and investments that matter or need immediate attention. Determine which areas can increase your home’s value or enhance safety or functionality. For example, updating your kitchen and bathrooms.

Try DIY’s if you can, as this can save you money, but however, make sure your work maintains quality and safety standards. For tasks requiring specialised skills or involving structural changes, you will need the assistance of a professional labour.

Choose mid-range materials that can be cost-effective and durable at the same time compared to the premium materials.

Negotiate and discuss costs with contractors. Try to have good discounts or explore other budget-friendly alternatives.

Track your spending of all your expenses, no matter how small. You need to record every purchase to compare prices, save your money, and adjust your spending if you exceed your budget.

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