Being a numbers-savvy consumer will pay off if you are thinking of embarking on a kitchen or bathroom renovation. It's not just how much you spend, but how wisely you spend it.

Here are a few pointers to help you consider and plan your project:

Read about it. Buy a comprehensive home repair manual so you can learn the basics of plumbing, wiring, and construction, as well as the language spoken by architects, designers and contractors. Make an album using the pages from magazines. Over time, vague notions will turn into specimens that will help you establish priorities.

Refine your Research. Zero in on appliances, fixtures and materials that appeal to you.

Set a Budget as soon as you can. Everyone from the contractor to the appliance salesperson is going to ask, 'What do you want to spend?'

Be aware of Budget Busters. When projects go over budget, the cause if one, or more, of; indecision, inflexibility, low-ball estimates, unexpected obstacles, pool scheduling or – the biggest threat – making changes once construction is under way.

Invest in the Invisibles. Plumbing, wiring, venting, heating and air-conditioning are the vital life-support systems of any kitchen or bath. Do it right the first time – while walls, floors and ceilings are open – you’ll save money in the post-remodeling retrofits.

Compromise Smart. If you have to choose between expensive materials and expensive labour, choose the labour. A good cabinetmaker, carpenter or decorative painter can make even mundane materials look great. Similarly, use inexpensive materials lavishly, expensive ones judiciously.

Buy Smart. As a rule of thumb, plan on buying good-quality replaceable appliances, such as refrigerators and ranges, and better-quality built-ins, such as dishwashers and cooktops.

Don’t Overbuy. Often the difference between ‘good’, ‘better’ and ‘best’ are the bells and whistles. Determine your minimum requirements and what ‘extras’ you’re willing to pay for.

Cut corners when you have to; Splurge when you can. Don’t economize too much. Balance practicality with a little luxury or whimsy. Used every day throughout the day, kitchens and bathrooms that are welcoming and hospitable are worth the investment.