Keen home renovators will be feeling the pinch as inflation has hit the construction industry hard, but builders say there are ways homeowners can keep a lid on rising costs.

Home extensions are a great way to increase living space while adding value to your property, whether through simple renovations or major upgrades.

The Domain website reports the price of materials and labour have skyrocketed since the pandemic began, but tactics can include setting a clear budget, a willingness to compromise on materials, while locking in other aspects of the projects early on, and engaging specialists on major renovations.

Builders say many homeowners are surprised to find out their budget buys them less than what they expected, forcing many to go back to the drawing board, and in some cases walking away, after spending unnecessary money at the outset.

Melbourne builder Alex McGough, of AMG Construction Group, said homeowners should get a job costed from the outset before spending money on expensive preliminary tests and processes.

“People will go to draughtsmen and architects and engage in a building survey without getting the job costed. Get a job costed before you start spending all your money,” McGough told the website.

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