Jennifer Sheahan: How to budget for your home renovation
If you’re struggling to come in under budget, focus your spending first on the items that are hard to change later, plumbing and electrics, insulation, flooring, and windows. File pictures
If you're planning a renovation in Ireland right now, there’s no way to sugar-coat it — costs have gone up. What might have cost €2,300 per square metre back in 2020 could now easily be double, if not triple, depending on your location, materials, and the complexity of your project. This is due to a mix of rising demand and an increase in materials costs since Brexit and global supply chain challenges in the past few years — prices spiked, and they’re not likely to go back down.
That’s not to say you shouldn’t do it — prices of turnkey homes have rocketed up too, so the reality is you’re goosed either way. But enough doom and gloom. Even with higher prices, a well-planned renovation can be one of the most rewarding things you will ever do. The key is creating and following a realistic budget.
