5 Money Saving Myths BUSTED

Want to know what the 5 top money saving ideas are? The ones I hear homeowners use to explain how they’ll save big money in their reno or new build?

In this episode, I share why these money saving ideas can be myths. In fact, they can be huge mistakes and can actually cost you far more in the long run.

Too often, homeowners rely on these money saving ideas as the reason they’ll afford their project. And time and time again, I see examples of where this goes terribly. Where homeowners end up with unfinished projects, broken friendships, or budget blowouts they didn’t anticipate.

So what are these money saving ideas? They are …

Money Saving Idea #1:

“I can get cheap tiles … or paint … or timber … via a friend / family member etc, so I’m going to save loads of money”

Money Saving Idea #2:

“My friend / family member is a builder / electrician / plumber and will be doing the job for us at cost, or for free”.

Money Saving Idea #3:

“I’ll save money because I’m going to buy all my fixtures and finishes separate to the builder’s contract. I’ll be able to find bargains, and avoid the builder’s margin on these items.”

Money Saving Idea #4:

“I’m going to project manage my renovation or new build.”

Money Saving Idea #5:

“I’m going to do my project as an Owner-Builder.”

For each of these 5 Money Saving Ideas, I share what can and does go terribly wrong. I also share my main tips for each one, to help you avoid the pitfalls. And, I also share with you what one big key is to saving money on your project.

If you’ve been thinking of any of these 5 ideas as the reason you’ll save money on your renovation or new home … or it being the reason you can actually afford your project, then listen to this episode now. Learn why these 5 Money Saving Ideas can actually be myths and cost you far more in time, money and stress.

Links mentioned in the episode and for further reading:

Not sure what a Project Manager actually does? Read this interview full of info and tips with Project Manager, Ben Larsson.

This blog outlines why you need to get an agent – or get ready for a fight. If you’re planning on Project Managing yourself, it’s worth a read.

This season, Undercover Architect has a podcast partner: Kiiko LED.

Kiiko LED is customisable, DIY, LED strip lighting, that you can order online to your specifications, for your needs and project.

Kiiko LED is founded by Craig Thomas, who I’ve personally had the pleasure of working with for over 12 years now, in my own projects, and in client projects.

And so I’ve been able to organise with Kiiko a fantastic UA Community only offer. If you head to their website at www.kiiko.com.au/undercoverarchitect you’ll be able to access a $25 discount to use on your first order.

Check it out, and start building your Kiiko LED strip lighting now!


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