If you own an older home, then chances are the bathroom has seen better days. If you're stuck with dowdy, brown and orange tiles, a stomach-turning avocado coloured bathtub or one of many other hideous fashion trends from the past decades, then bathroom renovations are definitely in order.

If you're concerned that your budget is too small to create the luxe bathroom of your dreams, never fear. Here are three budget saving cheats that will save you a small fortune but won't make you compromise on the style and finish of your new bathroom.

1. Limit the use of wall tiles

Floor to ceiling tiles are a big trend in bathroom design right now. However, they also come with a big price tag, even if you choose modestly priced tiles. Instead, opt for some truly stunning tiles in small amounts.

You can make a feature of your tapware by using a small tiled area above your vanity. For the shower recess, opt for predominantly cheap, white and simple tiles and then add a feature strip of a more decorative an expensive tile. The rest of the walls can be painted in a colour that matches the tiling so you'll still get the overall colour palette that you love.

2. Opt for budget versions of designer brands

Like clothing fashion, trends by big names in interior design are usually produced en masse by many budget home goods manufacturers. While you may sacrifice a little in regards to quality and durability, you'll be able to recreate the designer look you crave without overshooting your budget in a dramatic way.

Items such as tapware, door handles, lighting and mirrors can all be purchased from home goods outlets or online for very low prices. This makes sense from a style perspective too, because these small items can be changed inexpensively as trends change as they invariably do from year to year.

3. Choose faux over fortune

Modern interior design products have made recreating deluxe and highly expensive products in the home a much more viable option. Unlike the reproduced versions of timber and stone products of the past, modern versions look incredible and can be hard to distinguish between from the real thing.

Timber veneer can be used as flooring or as a surface for your vanity unit to achieve the natural and serene Nordic look that's so popular right now. Reconstituted stone products, such as benchtops and bathtubs, can add the luxurious look of limestone, granite, slate and marble to your bathroom for a fraction of the price of their natural stone counterparts.