FixMeasure
Basics
How to budget a renovation
Most renovations cost more than planned, not because of one big surprise but because of many small things nobody wrote down. A structured budget makes the costs visible before you commit.
1. Write down the scope
List every job, room by room, including removal, repairs and finishing. Decide the quality level for each item. A clear scope also makes contractor quotes comparable; see How to get and compare contractor quotes.
2. Measure and estimate quantities
Measure areas and lengths and add waste allowances; the FixMeasure calculators work out paint, tiles, flooring and more. See How to measure a room for materials.
3. Materials, labour and other costs
Split the budget into materials, labour and other costs: waste removal, tool hire, permits, delivery, temporary accommodation and cleaning. Labour often makes up a large share of the total. The Project cost calculator adds these up with contingency and tax.
4. Add a contingency
Keep a contingency of about 10–20%, more for older houses, where opening walls and floors often reveals problems. Treat it as part of the budget, not as spare money.
5. Track as you go
Keep a simple spreadsheet of planned versus actual costs and record every change order. Decide in advance which items you would drop or postpone if costs rise.
Common mistakes
- Forgetting removal, delivery and permit costs.
- No contingency.
- Changing the scope during the work without updating the budget.
- Comparing quotes that cover different work.
- Not tracking actual spending.
Frequently asked questions
How much contingency should a renovation have?
Usually 10–20% of the budget.
What hidden costs are common?
Waste removal, repairs found during demolition, permits, delivery and temporary living costs.
How do I estimate material quantities?
Measure each area and use calculators with a waste allowance.
Should I pay for materials myself?
It can save money but means you carry the risk of wrong or late orders; agree it with the contractor.
How can I keep a renovation on budget?
Fix the scope early, get written quotes, keep a contingency and track every change.