What’s a realistic budget for a car restoration? What are some hidden costs to consider?
Kate and Andrew: A realistic budget for a car should come down to three main factors: What condition is the car in? Does it suit your lifestyle? Where/who/how are doing your restoration?
These considerations are what helped us complete our restoration and set a realistic budget. There will always be hidden costs. Unfortunately, there is always something that doesn’t quite go to plan, whether it’s a big or small issue. You must prepare for things to go wrong.
Josh: It depends on the condition of the car. However, I would say at a minimum $10-$15,000. As you start to do work on the car, you may uncover other issues that you didn’t see in the initial purchase. Also, if you can’t purchase the components locally, you have to factor in the extra cost to purchase from overseas.
What are some tools, equipment and space considerations to factor into a car restoration?
Kate and Andrew: It comes down to what your project needs and where will you be keeping the car or working on it. Car restorations are a great way to learn new skills and try new techniques. However, keep in mind not to push your limits. Set goals and boundaries on what you can achieve with your car and ask for help when you need it.
Josh: For me, it was quite a challenge as I don’t have my own garage and I store my car in my neighbour’s garage. My car just fits in there, so most of my work was done on the street. You need to have some basic tools to restore a car, however the more specific ones are quite readily available now to purchase.