'Scaling back is always okay': Inside Victoria Devine's bathroom renovation

When planning a bathroom renovation, there are lots of exciting decisions to be made. What tiles will you choose? Will you have a bathtub or an extra-large shower? And, most importantly, how will you afford it?

When financial expert and host of She's on the Money, Victoria Devine embarked on a bathroom renovation, staying in control of her budget was a top priority.

"Renovations rarely go exactly to plan," she says.

Unsurprisingly, her first step before undertaking the renovation was making sure she had a 'financial safety net'.

"The amount needed differs depending on the property you're renovating, but as a blanket rule I recommend a buffer of 10 to 20 percent of your total budget," she says.

"If you're doing up an older home or anything structural, lean closer to the 20 percent to be safe."

The buffer was also there in the instance that problems or unwanted surprises pop up.

"Being financially and mentally prepared means less stress when problems come up," she says. "Have early chats with your builder about common surprises based on your property type so you're not caught off guard when they come."

The features most important to Devine in the new bathrooms were "quality, style and functionality". She wanted practical items that were great value and ended up choosing Reece's Posh range for the big-ticket items.

"The vanities and back-to-wall baths were standout pieces: easy to customise, super functional, and designed to last," she says. "I know they'll still look great for years to come."

For the rooms, she settled on a neutral colour palette with large square 'griege' tiles, pared with smaller rectangular sage green tiles as a feature.

The finished bathroom includes a large shower with built-in recess for toiletries, a separate bathtub, matte black tap-ware, built-in timber vanity and round mirror with in-built storage.

<img src="https://cue.wanews.com.au/webservice/thumbnail/article/19376721" id="_5e80c957-b3ba-489f-9e6d-cf2a944adadb" alt="Not Supplied" caption="The features most important to her were "quality, style and functionality". Pic: Daniel Mallia." credit="View">

Now that she's been through the process herself, the finance guru has plenty of money tips to share for those embarking on a similar journey, including having clear rules on where to spend and where to save.

"Spending should be prioritised towards good trades and anything structural," she says. "Save on finishes and styling touches that can be easily changed later.

"You can always upgrade these along the way when your budget has more breathing room."

If you've begun to realise costs are creeping up and your budget is dwindling, Devine suggests to "pause and reassess".

"Have a clear list of your non-negotiables and the things you're happy to let go," she says. "Scaling back is always okay. Your financial wellbeing should come first, always."

With any renovation, one of the biggest decisions is how to fund it. Before you decide, Devine recommends weighing up the pros and cons that come with each option.

"Home equity is usually more affordable than other options, but it's important to make sure you're not overextending," she says. "A mix of equity and savings can offer flexibility and reduce repayment pressure.

"Be cautious with personal loans as they often come with higher interest rates and stricter terms."

Devine's top three considerations when working out your budget:

1. Council permits are often not initially considered and fly under the radar until it is too late. Make sure you look at the regulations for renovating in your area to factor those costs into your budget.

2. If the renovation requires you to move out temporarily, accommodation and storage costs can add up quickly.

3. Interest costs when taking out a renovation loan are easy to forget but should be factored into the budget too.