We’ll figure out what financial mistakes you can make if you find yourself during renovations in the middle of a crisis, and how to avoid them.
1. Buy everything in stock
When prices for certain types of decoration, furniture, and appliances have risen sharply, and stocks in store warehouses have begun to dwindle, the first natural reaction is to rush to buy before everything is gone. However, during a crisis, it is important not to make impulsive decisions driven by emotions. Give yourself a couple of days of rest without frantically monitoring sites or shopping runs. It’s simply impossible to run out of everything, and shortages are often created by panicked buyers themselves.
All designers and renovation companies are now in the same situation as you, but they are methodically selecting replacement materials and equipment, and adjusting their projects. Therefore, take their example: buy only what you really need and look for non-trivial solutions.
2. Set a goal to buy everything that is cheapest
Another natural desire is to try to save as much money as possible in difficult times by saving on repairs. Remember that it is normal to reconsider some positions. For example, by replacing bright designer wallpaper in the living room with paint of a deep, rich color: you will be able to spend less and realize the idea of an accent wall. But there are things on which it is better not to save because this will result in problems and new costs in the long run. You should not give up an orthopedic mattress if you have back problems. Or choose the cheapest bathroom fixtures, which you will then have to constantly repair. Or – even worse – buy dubious uncertified building materials that can harm your health.
3. Trying to buy everything “back to back”
Another mistake that can lead to trouble is buying finishing materials without stock. For example, you calculated that you need 30 tiles of a certain color and size for the walls in the bathroom. We bought exactly 30 pieces, but during the installation process, chips appeared on several of them. They need to be replaced, and the store has run out of this collection. You will either have to urgently look for the required finish throughout the city, or simply install similar tiles, which will irritate with their “patch” effect. This applies to all consumables and small things like screws or glue. It’s better to resell the surplus later than to face a shortage of something during the repair process and pay workers extra for extra days.
4. Refuse any services from specialists
Finding themselves in a situation where the repairs they have started suddenly begin to increase in price, many people panic and refuse the help of a repair team. It seems like this will help you save a lot. But it’s not so simple:
- Do-it-yourself repairs take longer, especially if you are doing it for the first time. If you have to rent a home while your apartment is being renovated, this will become a serious source of additional expenses. If you live in a renovation, it is very uncomfortable to be in such conditions, and this can last for months and even years.
- Some mistakes are obvious to a specialist, but would not occur to a person who is far from repair work. Many of them – for example, an incorrectly installed toilet that floods your neighbors – will cost you dearly.
- There is a risk of unknowingly breaking the law: not approving a certain redevelopment, moving wet areas, etc. A designer or a good foreman would have saved you from this mistake or helped you prepare documents for approval.
5. Think in stereotypes
Many people are accustomed to thinking that any product from China is unreliable and that any product from Russia is ugly and unstylish. All of these are harmful stereotypes that make it difficult to find interesting and budget-friendly replacements for foreign manufacturers. Spend some time researching new players in the construction market. You will be surprised how many good furniture brands there are and what variety of finishes is still available to consumers. Scroll through the forums and communicate with those who find themselves in the same situation. Study the social networks of designers – many are now talking about the possibilities of replacing foreign companies.
