Renovating the home improves defects, aesthetic appeal, and property value while giving the owner a reason to smile. Any room in the home is eligible for a renovation to bring it up to your style standards.
Many homeowners renovate their bathroom and their kitchens before other rooms. Each of these rooms has so much potential, if only it is unravelled. However, you may wonder if home renovations are really within your budget.
Keeping costs of a renovation project low is easy if you aren’t afraid to put forth the effort to minimize costs. Many simple ways to save money on your home renovation projects exist.
How to Spend Less on Your Home Renovation Project
Create a Budget
Create a budget, or an amount of money you’re comfortable spending, for your home renovation project. Include costs for materials, fixtures, repairs, etc. in this amount.
Once the budget is set, allot a small amount for unexpected expenses that most renovation projects endure. Adding 10% to the budget amount is ideal.
Don’t Finance the Renovation
Although it is tempting to finance your project rather than spend cash, doing so will cost a significant amount more in interest fees than if you’d paid for the purchase in cash.
It is especially beneficial to pay cash if you’re renovating the home in order to sell it in the near future. If you cannot afford the renovations now, save money by trimming household expenses rather than finance.
Renovating the home is always exciting. The finished product reveals a new look that improves your home. It can be tempting to gut the house and renovate the entire thing at one time, but this is a decision that could leave you overwhelmed and under impressed.
Don’t rush to renovate every room in the house. You can avoid the need to finance the project and the need to find housing during the renovations when you pace the projects.
Do it yourself provides homeowners with the opportunity to maximize their savings when renovating their home. Even for people that aren’t ‘handy,’ many projects are easy-to complete yourself.
Whether it is simple preparation work like caulking or removing windows, you’ll find it rewarding to complete this project as it saves you money. Any work that you can perform yourself saves a considerable amount of money.
Recycling old materials by reusing them is an excellent way to help the environment and your wallet. Cabinets, appliances, and hardware are examples of items that may be reusable during your home renovation project.
Shop stores like the Habitat for Humanity Re-Store to find home goods at deeply discounted prices. Shopping for salvage components to use for your renovation is fun and saves such a massive amount of money.
Promotions & Sales
Even home improvement stores hold sales. Wait to buy your new fixtures and materials when they go on sale and you’ll save money. You may eve find it possible to buy high end materials at the same price as low-end materials if you catch the right sale.
Learn when major and local home improvement stores hold their major sales, sign up for newsletter lists, browse the store’s website for coupons and deals, and of course, scour the web for offers that are too good to pass up.
Hire the Right Renovation Company
When hiring professionals to help renovate your home, make sure you compare options to learn more about the company and how they can benefit your renovation project.
When you’ve researched the contractors, it is much easier to find the professionals who treat your project personal, devoting the time and attention to completing it to your exact specifications.
Ask friends, neighbors, and coworkers to refer you to renovation specialists, but do not depend on their word alone. Check with the BBB to learn what letter grade the renovation company holds and look for reviews from experts and past customers online.
Choose contractors who are licensed, insured, experienced, and professional – like the experts at Honest Renovations – and minimize risks and worry of an amazing renovation project.
Schedule Your Project During Off-Season
Right before summer begins and as soon as winter ends, schedule your renovation project to secure the lowest prices of the season.
Summer time often creates large projects for contractors, so they may be unable to start your job or even willing to accept it due to their busy schedule. When you choose a pre-season home renovation project, you’ll be ready for the summer with an inspiring, head-turning home.
Don’t Change the Footprint
In other words, keep major fixtures exactly where they’re at now. Don’t plan any renovations that require removal/replacement of fixtures like water heaters, windows, or sinks and tubs.
These renovations may require wall removal, among other hardships, that tackle costs onto the project. Plus, such renovations take longer to complete and certainly interfere with your daily life.
Sell Your Unused Items
If you’re replacing a perfectly functional ceiling fan simply because you want something new, why not sell the old fixtur to others on a budget who want to remodel their home?
There are many sites that allow you to place ads for these products, like OfferUp, Facebook, and Craigslist. The list of items that you can sell to others is endless. Since you’re free to price your own items, you control the amount of money that you earn.
Phenomenal Savings Worth Taking
It is exciting to renovate your home, but can be an expensive venture if you do not use the 10 tips above during the project to keep your expenses low. Why spend more than your budget allows when it is so easy to keep costs down with these tips?
Saving money on home renovations is perhaps one of the best rewards that a homeowner receives when the day is done. Keep your money where it belongs without sacrificing an amazing renovation project!